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103,000 Square feet for sale or lease in Tupper Lake, NY- Worth a shot right, reddit? | /r/CommercialRealEstate/comments/u4hcb/103000_square_feet_for_sale_or_lease_in_tupper/ | 2 | [{"id": "c4s8u53", "text": "Is there any industry in the area? That's a lot of building to keep occupied unless you're going in there yourself. There has to be a reason it's so cheap. \n\nEdit: Didn't realize it was on eBay, in fact I didn't realize eBay sold commercial real estate.", "replies": [{"id": "c4s8zye", "text": "I don't think it's something that is regularly done, but I am trying it out. You can sell pretty much anything you want on ebay.", "replies": [{"id": "c4s91wt", "text": "oh you're the one selling?", "replies": [{"id": "c4s944g", "text": "Yes", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "c5adt8l", "text": "Hey, this is where we store our boats! ", "replies": [], "depth": 1}] |
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Commercial Real Estate Review for May (Boise, Idaho)
| /r/CommercialRealEstate/comments/ual71/commercial_real_estate_review_for_may_boise_idaho/ | 0 | [] |
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Kennedys unveil three-tower plan for Wolf Point on Chicago River | /r/CommercialRealEstate/comments/ubf6v/kennedys_unveil_threetower_plan_for_wolf_point_on/ | 1 | [{"id": "c4u9ecf", "text": "The buildings are actually kind of boring I thought...", "replies": [], "depth": 1}] |
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The Best Industrial Space on the West Side of Cleveland, OH
| /r/CommercialRealEstate/comments/uo101/the_best_industrial_space_on_the_west_side_of/ | 0 | [] |
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Getting Right of first refusal and option to buy on a lease contract; questions. | These might be dumb questions so please hang in with me.
There's a newly devolved property I am interested in, but the owner doesn't want to sell cause his buildout and purchase cost put him way above market. He won't sell at a loss, I won't come up from my offer, you know the story.
We are exploring a lease agreement for the time being. He is going to offer a long lease with an option to buy. I havent yet brought it up, but I also want the first right of refusal. Now my questions:
Is it generally, an either or situation. Meaning, do either get an option or first right of refusal? Or can I have both?
What is the best way to determine how option prices will be calculated, of the time should come?
| /r/CommercialRealEstate/comments/uykc1/getting_right_of_first_refusal_and_option_to_buy/ | 0 | [] |
Mou or moa help!? Lease bonding? | First off, my company is a small family owned business that i have been running for the past 6 years. After our largest client got bought out and noved out if state we went through the downturn like everone else... Cheaply.
Now, I have filled our current 2 warehouses (175k sq ft) and am looking to expand. Our firm is now looking at buying a large commercial building at auction. By large I mean 300k sq ft +. Before we bid we are requiring the potential lessee to sign an mou / moa agreeing to lease the entire facility at a predetermined rate based on the auction price (% wise).
My question is does anyone have quality mou / moa templates for large scale commercial real estate, or experience with them? I know they are binding, but how much so?
The other problem is that it has happened so quickly. After 3 years of having people tour the building, these guys contact me 72 hours before saying they want to lease it. Auction starts tomorrow, ends Thursday, and I need to make sure I have everything in place to get this deal done.
I have cleared it with our bank, with our owner (my grandmother), the accountant and lawyer but havent had them make anything specific up yet. Am I missing anything?
In addition to the mou / moa, it is an absolute triple net lease. I was wondering if anyone has any experience with companies that provide rent / lease value bonding too.
Thanks in advance, from a long time lurker, recent sign up, and even less active poster!
| /r/CommercialRealEstate/comments/ux2vn/mou_or_moa_help_lease_bonding/ | 1 | [{"id": "c4zdudu", "text": "Commercial Broker here with a lot of industrial lease experience.\n\nOut of my own curiosity, what state are you in?\n\nI am guessing you are trying to save a few buck as well as time by leaning on Reddit to get this. I would seriously reconsider. While great for some uses, legal document and binding agreements of this magnitude should be tailored to your specifications.\n\nWhy doesnt your attorney have this document? with such are large lease on hand, you will want to consult your attorney to make sure you are protected on this...I know from a liability stand point, it would be difficult for anyone to hand over a template unless they were an attorney(license in that state), which I am neither.\n\nPM me if you have more questions as it seems like you may need to start getting creative.\n", "replies": [{"id": "c4ziz4j", "text": "Very much so using our attorney. Not really trying to save money at this point - considering the deal will be about 1M overall, the extra 5k for lawyers isn't a big deal.\n\nI was just looking for more ... real world experience if there was anything out there, instead of \"what my lawyer says.\" He does have this document, we have just been trying to do everything WITHOUT spending anything until we have an agreement in place basically. \n\nI've had these guys through the space 3 times over the past 3 years - and they call 72 hours before the auction saying they want to get in?! Come on, can it be any more of a time crunch?\n\nAuction starts today at noon - ends Thursday at noon. So we have some time to get an agreement in place but getting the principles from their place to sit down (one gentlemen is in his 80's and does it on his time) is impossible.\n\nI guess the point is we need to have the MOA / MOU in place before we bid - and I wonder what the quality of that contract / binding ability is.\n\nSorry if I am kind of vague!\n", "replies": [{"id": "c4zk178", "text": "totally understand where you are coming from and trying to put these deals together are stressful but potentially worth it. Obviously like previously stated, I am not an attorney and not giving any legal advice. From a real estate brokerage \"structuring\" stand point an MOA /MOU ***could*** be good, but why would you want to deviate from the original lease contract? I would think you and this potential company would want to keep things as \"simple as possible\".\n\nA lease with a contingency rider...i.e. if said building is bought, you will honor the contract (same thing, different route). My thought is that you want to have the lease contract as strong as possible (obvious) and as close to complete if not complete with an options to cancel, contingency rider, something to that effect in the event that the bidding goes over your price and/or YOU cannot fulfill your obligation. \n\n>getting the principles from their place to sit down (one gentlemen is in his 80's and does it on his time) is impossible....\n\nHilarious cause I can see this playing out like a scene out of Wall Street, but I digress. If the economics of the deal are hammered out already than it may make some sense to have your attorneys and them sit down to go over the lease document due to the time constraints.\n\nYou are taking a huge risk in this and in these economic time, what is to say you have everything inked and they go bankrupt 6 months down the line? this could happen in any situation. If the contract value is worth $1MM, I would make sure they are financially sound.\n\n* Do you have financials on them?\n* Are they willing to Personally Guarantee the Lease?\n* Is there any negotiated TI? and if so, how much?\n\nI dont think you're being vague, I think you may not have the full experience to maneuver through the deal and be creative...its not anything personal against you unless you were in the real estate business.\n\n\n\n", "replies": [{"id": "c4zmgre", "text": "Great info & great point on the lease. We have a lease - why not just add a contingency point of \"buying the new building.\" PERFECT. \n\nYes - we have seen the financials. Old company (3rd generation), very local, lots of assets, and yes personal guarantees from 2 of the 3 generations (the 3rd is still young, my age @30 and hasn't done much other than travel and sales).\n\nThe TI was new to me. We called it \"FIT OUT\" around these here parts in Pennsyltucky. There is ZERO TI. The rate we are offering is low enough that he can do what he needs to do and still get ahead - although we would (@ the end of the day) net almost 60% before taxes. So... over the 5 years of their lease I COULD (if I saved all our income) effectively pay off the entire loan.", "replies": [{"id": "c4zopb3", "text": "Good to hear there are some options for you as it sounds like you may be closer than you think. Tenants these days will for the most part go for the path of least resistance; especially since aggregate vacancy is up. \n\nThat is great that there is NO TI/Fit out, In Illinois we call it TI/tenant improvements, but always interesting to find out different terminology. Always a huge bonus to the ownership group factoring present value of the \"investment\" vs. potential risks.\n\nAlso, regarding the income and depending on your investment strategy, it may make some sense to talk to an accountant and your commercial lender to see how you could leverage that income or if it would be best to pay down the loan. Some times it doesnt make sense as you want to have a line of credit or an escrow for broker commissions, Fit out costs, etc. that you dont want or dont have the cash on hand...just my two cents.\n\nIf you need any other help, feel free to PM me.", "replies": [{"id": "c50fzk2", "text": "There is action on the auction, but not with us! They won't even take my phone call this week. People drive me nuts.", "replies": [{"id": "c50jxib", "text": "if you have never been to a property auction, they MOVE REALLY FAST! Pay attention, have your price point and make sure your auctioneer where your siting knows where you are and ask him/her as many questions as you need to feel comfortable. GOOD LUCK and let me know how it pans out!", "replies": [{"id": "c50rt0d", "text": "Was a 48 hour auction. We didn't bid as the client never came back to us.\n\nWas sitting at 500k for all of 70 hours, then the last hour it went up to 1.2M.\n\nThe reserve was not met, and the building was not sold. \n\nEdit: Thanks for the info :D", "replies": [{"id": "c5hl7um", "text": "Total newbie here: (I plan on buying some commercial real estate sometime in the next three years, depending on how my other ventures go, and I'm just lurking about and trying to figure out how this sort of thing works.) \n\nAre 'reserve prices' really all that common? I would think that if someone was on the up and up, they'd start the bidding at the lowest price they are willing to accept; as a potential buyer, I'm not sure I'd be interested in wasting my time if I knew there was a reserve price that might very well be more than I was willing to pay. I mean, I understand that on an ebay auction, the seller is going to set a reserve, because they think irrational buyers will work themselves into a frenzy upon seeing the lower price; but I would imagine that cooler heads would prevail when spending seven figures. \n\n\nOf course, there are a lot of those sorts of things that seem really shady that are completely normal, and you put up with it or you don't do business. ", "replies": [{"id": "c5hmygf", "text": "A lot of auctions have are not absolute where they have to accept your offer.\n\nMost have a reserve, but start the price lower to entice more action and more bidding from multiple parties. \n\nI would be nice to know their minimum. I sort of did know off hand because I have been working with him on the building for 4 years now, and am still working on a lease with that same client - hoping for a January 1 lease / purchase date.\n\n", "replies": [], "depth": 10}], "depth": 9}], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}] |
Online CRE Analysis Software | /r/CommercialRealEstate/comments/ux1fh/online_cre_analysis_software/ | 0 | [] |
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www.amrapaliinfracon.com | /r/CommercialRealEstate/comments/v7wls/wwwamrapaliinfraconcom/ | 1 | [{"id": "c523kyk", "text": "All New Property .", "replies": [], "depth": 1}] |
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How can building access and security be maintained? | Any landlords or building managers have experience with solving building access issues?
Currently a multi-story mixed office building with an unlocked lobby during standard business hours M-F. Tenants have 24/7 access when the lobby is locked via a key card.
Looking to add a full floor fitness tenant who would need extended building access evenings and weekends. It may be impractical for them to give all of their clients keycards, and that is less than ideal since they would then have access to the full building when most other businesses in the building are closed.
The elevator can be locked by floor with a physical key, but there is only one master key for the elevator, so if all the other floors were locked after hours, tenants would not have elevator access to the space. All floors are currently left unlocked.
Anybody have suggestions for using the current system or upgrading the system in a way that solves this problem?
Thanks! | /r/CommercialRealEstate/comments/v9f54/how_can_building_access_and_security_be_maintained/ | 1 | [{"id": "c52nqvl", "text": "I do not know if you already have these installed, but I recommend installing dome cameras in the main entrance ways and in front of the elevators. \n\nYou want mid size dome cameras rather than covert/pin hole cameras so potential thieves casing our your building know they will be recorded. Moreover, getting a handful of cameras and a dedicated DVR is inexpensive.\n\nI hope this helps ", "replies": [{"id": "c52nxpi", "text": "Good advice. The building already has cameras, more a question of limiting access to those who need it.", "replies": [], "depth": 2}], "depth": 1}] |
Chicago Home Prices Post First Gain in 50 Months | /r/CommercialRealEstate/comments/vdrow/chicago_home_prices_post_first_gain_in_50_months/ | 1 | [{"id": "c53l4x0", "text": "Not strictly Commercial RE, but an interesting market indicator...", "replies": [], "depth": 1}] |
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Industrial | torontoinvestrealestate.com | /r/CommercialRealEstate/comments/vkijo/industrial_torontoinvestrealestatecom/ | 0 | [] |
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35 Acres vacant land in central Florida, development/getaway? | /r/CommercialRealEstate/comments/vm69m/35_acres_vacant_land_in_central_florida/ | 1 | [{"id": "c55wlop", "text": "Sorry to say but this is grossly overpriced, even at $12K/AC. Was this a residential property? Bank owned?", "replies": [], "depth": 1}] |
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Viable niche market for professional photographer? - xPost from r/RealEstate | /r/CommercialRealEstate/comments/vu0wy/viable_niche_market_for_professional_photographer/ | 0 | [] |
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3 Common Mistakes Made by Tenants | /r/CommercialRealEstate/comments/w5k55/3_common_mistakes_made_by_tenants/ | 0 | [] |
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Business Relocation Checklist | /r/CommercialRealEstate/comments/w5i3t/business_relocation_checklist/ | 0 | [] |
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What's the difference between Class A, Class B, and Class C space? | /r/CommercialRealEstate/comments/w5gxr/whats_the_difference_between_class_a_class_b_and/ | 1 | [{"id": "c5bsgv5", "text": "I usually use the presence/absence of structured parking when differentiating between Class A and good Class B. ", "replies": [], "depth": 1}] |
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Direct Lease vs. Sublease of Commercial Office Space | /r/CommercialRealEstate/comments/w5tq2/direct_lease_vs_sublease_of_commercial_office/ | 1 | [{"id": "c5aldgz", "text": "I know this is spam, but it is kinda an interesting discussion. Commercial leases are... draconian. as far as I can tell, getting out of a commercial lease is far more difficult than selling a place you own; I mean, when you sell, you figure you lose 6% or whatever... but when you lease? you are in for the whole goddamn 3 years, and if you happen to buy right before the (local) economy takes a dump? you are stuck with making 3 years of rent payments (and in the current market? at least for the places where I've done the math? 3 years of rent is quite often more than 6% of the asking price for a building.) ", "replies": [{"id": "c5chor8", "text": "Commercial leases are how leases should be; a true contract, not the one-sided \"tenant's rights\" BS that a lot of municipalities have. Of course I understand that landlords can do a lot of shitty things that can be dangerous to tenants, but a lot of tenant's use these laws to abuse the system. \n\nThe trick with commercial leases is to use good brokers and lawyers who will hammer out a lease and terms favorable to their client.", "replies": [{"id": "c5cn88p", "text": "I mean, the things that have \"burned\" me before don't have anything to do with the landlord surprising me, or with me not understanding the contract. I'm talking about, you know, I decide to expand my business in one direction, I lease some infrastructure, and the business fails. Subleasing is harder than it sounds, and in my industry, nobody even pretends to try to get someone else to take the space and your lease. A lease is properly looked at as a up-front lump sum in exchange for the use of some space for a pre-defined period of time,\nplus a loan, from the same entity, that allows you to pay back that lump sum over the time you stay.\n\nNow, nearly all my leases are data centre space and bandwidth, but we're approaching a hundred grand a year in total lease value (and I'm kinda working on doing more of the data center stuff myself, and turning this into a commercial real-estate lease, though I'm probably at least 5 years out from being able to run anything like a reasonable small data centre myself, capital and skill wise) \n\nAll the lawyers I've talked to seem to think all this is completely standard, and I've talked to several, even a few that are familiar with this market. (and lawyers that know anything about my market are ridiculously expensive.) \n\nBut yeah, I guess what I'm asking is \"why do people lease instead of buying?\" because, like I said, it seems that your liability in the lease (e.g. if it turns out you can't use the building you lease after all and you have to pay for it anyhow) is larger than the risk you take with buying (e.g. that you have to pay someone to turn around and sell the building.) \n\nOne answer, of course, is creditworthiness. While leases don't seem to be any easier to get out of than loans, I have no problem getting people to give me very expensive leases, even giving the leases directly to my corp with no personal co-sign, while the bank won't loan my company anything without a personal co-sign, and even then the credit limit seems to be limited by my personal credit.", "replies": [{"id": "c5cp29r", "text": "Again, the specific terms of a lease can help you out of these situations. For example, a properly negotiated termination agreement can make all the difference if you are foundering after the 3rd year of a 5 year lease and need to get out of it. I know how hard subleasing is, I do it for a living. Generally getting out of the lease for 50% of the remaining value is considered a home run. I understand the tribulations of that activity. The point is to negotiate a lease to avoid getting into the situation where you have to sublease.\n\nThere are a plethora of reasons why one might lease rather than buy. Often times leasing it a lot cheaper if you are not planning on being there for an extended period of time. If you know you need the flexibility to close the operation after 5 years, then why would you buy and lock all that capital up in a building? Sure you might need a 3 month security deposit for a lease, but that's better than 30-50% of the value of the building for a loan. There are also certain accounting advantages to a lease (which are about to change, but that's another story) that can make a lot of financial sense.\n\nHowever, that's not to say that buying doesn't make sense sometimes as well. If you know you plan on being there for 30 years and don't think you'll outgrow the space, then hell yeah you should buy it. But again, it all depends on circumstance.\n\nYou might be surprised to find that the most credit-worthy tenants lease space almost 70-80% of the time. That's because they see the benefits of flexibility to their business case and have the weight to throw around to secure favorable lease terms. \n\nFinally, I'm very familiar with data centers and that is a completely different beast from 99% of commercial leasing. The behavior of that market is extremely bizarre. I used to work for a company that had one of the fastest connections on the West Coast in One Wilshire in LA. Something like 182 strands of fiber right into the Quest Fiber Loop. Anyhow, they got it on a cheap sublease from some company that went bust in the tech bubble and sat on it for years using it for hosting. When their lease expired in 2009 and they couldn't find another Tenant willing to buy the data center improvements off them as part of a deal for a new lease and the Landlord wouldn't give them anything for it, they pulled all the fiber. Tens of millions of dollars in value destroyed because they'd rather trash it than let someone else get it for free and profit from it. One of the fastest data center locations on earth and they essentially just threw it away. Strange market indeed.", "replies": [{"id": "c5cr3cu", "text": ">Again, the specific terms of a lease can help you out of these situations. For example, a properly negotiated termination agreement can make all the difference if you are foundering after the 3rd year of a 5 year lease and need to get out of it. \n\nYeah, that's the sort of thing I'm interested in... but every time I've talked to a potential landlord about it, \"nope\" was the answer. On the other hand, I haven't seriously negotiated commercial real-estate deals with dollar values near my data center space leases, so I imagine that makes a big difference (and I imagine that getting a professional negotiator could also make a difference, though I've yet to do that successfully.) \n\n>Generally getting out of the lease for 50% of the remaining value is considered a home run. \n\nOuch. So that's what you try to negotiate? a \"if I break the lease early I only pay you half the remaining value of the lease\" deal? or are you saying that without the agreement, recovering half the value through subleasing or something is pretty good?\n\nMy only personal experience with this was as a subletter; A buddy of mine had a lease on a warehouse, under two grand a month, so not really big money or anything. Hobby use. But then he lost his job, couldn't pay for it, and I sublet a portion as a workshop. It was a great deal for me. Anyhow, I considered assuming the lease and did some research, and decided against it, as I didn't need two grand in warehouse space, and the cost per squarefoot was high for if not the comparable area, the area I was willing to drive to, so I didn't think subletting profitably would be easy. \n\nWe all ended up moving out and the landlord had someone new in there in a month, but I think that was only because it was obvious that my friend didn't have the money to pay him back meanwhile. Certainly I've never seen anyone let out of a datacenter lease like that. \n\nI did try to negotiate a deal where I'd assume the lease, with the provision that I'd just pay him for two more months after I vacate or something if I were to break the lease... he wouldn't go for it, even though it'd leave him no worse off than he was then, with a lessee that couldn't pay, and it'd save him the effort of cleaning the place up and renting it out, at least for a while. (I was okay taking it as-is where-is) \n\nThat's my big worry with the lease; I mean, Renting places is work; and it makes sense that he'd charge more if he had to do that work every 6 months rather than ever 5 years. If the landlord thinks he can get money out of me, what incentive does he have to rent the place out to someone else and let me off the hook? Hell, what incentive does he have to not say 'Oh, rents have gone up!' and want more money for the next guy? I mean, as long as he can get payments out of me, my assumption is that I'd be continuing to make payments until the lease expired. \n\n>There are a plethora of reasons why one might lease rather than buy. Often times leasing it a lot cheaper if you are not planning on being there for an extended period of time. If you know you need the flexibility to close the operation after 5 years, then why would you buy and lock all that capital up in a building? Sure you might need a 3 month security deposit for a lease, but that's better than 30-50% of the value of the building for a loan. There are also certain accounting advantages to a lease (which are about to change, but that's another story) that can make a lot of financial sense.\n\n\nMy point with the buying vs. renting was that if it costs you 6% to sell the place, eh, that's less, quite often, than you will have to pay to get out of a lease 3 years early, so if you have a low cost of capital, it seems like owning is cheaper and more flexible. Also, as you mentioned in the data centre, improvements. First, if you own, you can do whatever you want to the place (well, you have to get city approval, still, but the landlord doesn't need to be consulted.) Next? you get to keep those improvements. My local computer club rents from the same landlord, and right after they signed a long lease on two more warehouses, the city came down on them and said they had to spend like a quarter million on upgrades. I mean, it's a well-known computer club in silicon valley; I bet they'll come up with the money, but I'd bet my eyeteeth that next time the lease is up for renewal, the price will go up to whatever market price is for facilities with those upgrades. They just gave the landlord a gift. \n\nOn the other hand, *I* don't have a low cost of capital, so you have a good point that if immobilising a large chunk of money for the duration of your stay is expensive, then you might be better off leasing. \n\nAlso, 30-50% down for a commercial real-estate loan, still? I mean, you'd know better than I would, I'm not saying you are wrong, but I thought that 50% down was an anomaly caused by the financial problems of a few years back, and I thought that sort of thing had faded. Somewhat disappointing, as I'm looking to get myself a industrial condo or small warehouse here in santa clara. ", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}] |
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How big should my office be? How many square feet do I need? | /r/CommercialRealEstate/comments/w5rju/how_big_should_my_office_be_how_many_square_feet/ | 0 | [] |
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Does your business have TOO MUCH office space? | /r/CommercialRealEstate/comments/w5r0b/does_your_business_have_too_much_office_space/ | 0 | [] |
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4 Advantages to Using a Tenant Representation Broker | /r/CommercialRealEstate/comments/w5qi3/4_advantages_to_using_a_tenant_representation/ | 0 | [] |
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Deadbeat tenant overdue in rent, need advice | Tenant has a balance of 30k with a monthly rent of $3100. It has always been a gamble if the monthly check would clear or not. Initially I charged 10% for any over due balance, but as you can tell it was getting out of hand. I haven't charged the 10% fine for some time now, I've been considerate because of the current financial situation. The lease ran out 3 months ago and am currently in a month to month basis. I sent a letter 3 months prior to the end of the lease stating that all balance need to be paid in full, if not lease would not be renewed and eviction process will begin. The tenant pretty much begged for a 15 year lease, and would pay out the balance over this time.
For the past two years, it has been a repetitive cycle. pays rent plus extra every month with a couple of 1k checks, some clears and some bounce. End of year, I'll call him up with a stern threat and eventually get the balance down to an acceptable level.
I'm pretty much sick of it and am ready to start the eviction process. Just want to know the right way to go with this. Is there any way of getting my due rent? What happens to the business and all the equipment(it's a deli)? Is it better to clear out and clean the property and rent out as an open space or try to lease the space as is?
He was a pre-existing tenant when I bought the property and I do not know his personal information, other than what is on the lease. I'm sure I will need to know as much info about the tenant if I want to go forth (ie ss#, home address etc) for collection agencies and what not. What is the best way to get this kind of info.
thanks for reading and any advice will be appreciated. | /r/CommercialRealEstate/comments/w5lo7/deadbeat_tenant_overdue_in_rent_need_advice/ | 1 | [{"id": "c60kmv8", "text": "This is a month late so you have probably resolved the situation by now.\n\nTo solve the problem of endless rubber checks your lease should specify that after the first one that is returned to you by your bank as NSF you have the right to request payment in some form that is preferable to you (in-state cashier's check, money order, cash, etc.). Anything that is not in that form is unacceptable as payment. It is also wise to have a clause that says your acceptance of partial and/or back payments does not waive your right to the rest of the money.\n\nAs for your action, I would not hesitate to evict. You are just getting played -- their account is at 10x their monthly rent and they are magically able to come up with the money when you make threats, so obviously they are just pushing as much as they can.\n\nIf they suddenly come up with back payments during eviction, take them and continue with the eviction. No amount of tears and promises would convince me that things will be different in the future. If you have to let the place sit idle for a few months until you find a better tenant, so be it. Or if the building and location will only ever attract deadbeats, sell it and move on.\n\nYour attorney who does the eviction will be able to advise you on what happens to the deli equipment. My understanding is that anything that is physically attached to the property is a \"trade fixture\" and reverts to the landlord at the end of the lease. As a practical matter you may even be able to negotiate with the tenant to keep all their equipment in lieu of part of their rent, or they may leave it behind. That way you can lease the space more easily to a similar business.\n", "replies": [], "depth": 1}] |
Cross post from /r/ finance: Non-performing note financing. | Does anyone have experience with this? I would like to attend an auction for a Miami property that I believe is a great bargain. I have to acquire the note then foreclose on the current borrowers who are not paying, then refinance for around the current loan balance (and getting all of my original investment back with practically free cash flow) and hold the asset forever (no real need to sell). Anyways, that's not the root of my issue.
I need to get financing for a big chunk of the potential total investment cost, but I really don't know where to go in this current market. There are plenty of sites offering cash up front, but I don't know which places are legit.
I expect a final closing price of around $1 million + legal fees (this is the absolute maximum I'd be willing to invest in this property) and any secondary issues with title. Of course, I am looking to minimize my liability(personal cash investment). We have some assets in cash and real estate. We need to invest the cash into some income producing assets, and I feel that this property will get me in the right direction. It's going to sell for roughly 20% below it's 2004 price/appraisal (pre bubble) and it's generating almost triple the income from that time. To insure the success rate of this purchase, I assumed worst case estimates here, where I am using 2004 numbers as my income numbers, and an only 10% discount from the total remaining note balance as my total investment cost.
Where do I get the funding I need? I need a reputable source that can provide the funding quickly and with flexible rates. What are your experiences with using these sources of funding (terms, requirements of eligibility and payment flexibility). I have 2 weeks to come up with funding before the auction, so time is of the essence.
| /r/CommercialRealEstate/comments/w9bji/cross_post_from_r_finance_nonperforming_note/ | 2 | [{"id": "c5bw88j", "text": "Anyone?", "replies": [], "depth": 1}, {"id": "c5q76qw", "text": "I have never heard of any traditional lenders offering a note against a note, which is what this would be. You would have to go with a hard money lender if you can find one with that much cash on hand, or possibly a syndication of hard lenders or a mezzanine loan if you have the time and expertise to put this together.\n\nLooks like more than 2 weeks have passed since your post. What happened?", "replies": [{"id": "c5qcc2z", "text": "Well, we got the money all lined up, but an unknown bidder decided to purchase the note ABOVE PAR. I was floored. We are now looking into other opportunities.", "replies": [{"id": "c5qt214", "text": "Out of curiosity, how did you line up the funding? Do you know wealthy people who were willing to back it or did you use institutional money?\n", "replies": [{"id": "c5uzqu7", "text": "I wish I have institutional money. I'm going to have to build a pretty strong track record before I can get that kind of money.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}] |
Secondary Airports, Losing Traffic, Have Space to Rent | /r/CommercialRealEstate/comments/wbwvb/secondary_airports_losing_traffic_have_space_to/ | 0 | [] |
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The Advantages of LEASING Office Space | /r/CommercialRealEstate/comments/wi7mb/the_advantages_of_leasing_office_space/ | 0 | [] |
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I need advice on selling an office building | Hi, my Dad just retired as a doctor and he's having a tough time selling his old office building. He's had a real estate agent working on it for the past 2 years, who seems like a nice guy and all. And despite the fact that I have an MBA in finance, I have no idea if the agent is doing a good job or not.
The building is in West Chester PA, and it's a double unit in an office park where single units have been selling for $170K.
Any advice on what to do, or books/sites to read would be greatly appreciated.
thanks, Ben | /r/CommercialRealEstate/comments/wi4rt/i_need_advice_on_selling_an_office_building/ | 1 | [{"id": "c5kq2ud", "text": "We are probably talking about an office condo here. The problem with these types of properties is that they are usually not good income producing properties in the current environment with office rents being so low. The primary market is for small businesses and professionals. Think doctor, accountant, or something similar. The problem is that demand is really low for the product as few of those professionals are looking to expand, and is much more cost effective to rent.\n\nHow can you see if the agent is doing a good job? Other than listing the property in costar.com and loopnet.com, there isn't much an agent can do. I would want the listing to have as many pictures as possible and I have seen the agents prepare brochures with additional information and attach them to the listings.\n", "replies": [], "depth": 1}] |
Pagina personale - alessio70 | /r/CommercialRealEstate/comments/whz10/pagina_personale_alessio70/ | 1 | [{"id": "c6w8aeo", "text": "Ottimi prodotti e attivit\u00e0", "replies": [], "depth": 1}] |
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Leasing too Much Office Space = Opportunity to Lower Overhead Costs | /r/CommercialRealEstate/comments/wna4h/leasing_too_much_office_space_opportunity_to/ | 0 | [] |
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Commercial property for sale by owner & for lease by owner | /r/CommercialRealEstate/comments/wmkjz/commercial_property_for_sale_by_owner_for_lease/ | 1 | [{"id": "c5elv9y", "text": "BuildingsByOwner.com is my new commercial real estate startup. Check it out, it's the only marketplace exclusively for commercial properties for sale by owner & for lease by owner.", "replies": [], "depth": 1}] |
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How to Attract Foreign Investors to Your Properties | /r/CommercialRealEstate/comments/wpdrj/how_to_attract_foreign_investors_to_your/ | 1 | [{"id": "c5f9lqe", "text": "Cost segregation delivers results every time it's applied!", "replies": [], "depth": 1}] |
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How can Cost Segregation help commercial realtors sell more CRE? | /r/CommercialRealEstate/comments/wreet/how_can_cost_segregation_help_commercial_realtors/ | 1 | [{"id": "c5frqzs", "text": "Cost segregation delivers results every time it's applied!", "replies": [], "depth": 1}] |
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Pritzker Plans to Open Luxury Boutique Hotel in Chicago | /r/CommercialRealEstate/comments/wtk24/pritzker_plans_to_open_luxury_boutique_hotel_in/ | 0 | [] |
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For Sale and For Lease By Owner Commercial Properties looking for buyers. | /r/CommercialRealEstate/comments/wt8nl/for_sale_and_for_lease_by_owner_commercial/ | 0 | [] |
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Commercial Real Estate Lease Negotiation Tips | /r/CommercialRealEstate/comments/wvuyp/commercial_real_estate_lease_negotiation_tips/ | 0 | [] |
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Commercial Real Estate Negotiation Tips | /r/CommercialRealEstate/comments/wvu8w/commercial_real_estate_negotiation_tips/ | 0 | [] |
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Rentaspace | /r/CommercialRealEstate/comments/x11w4/rentaspace/ | 0 | [] |
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Negotiate Your Commercial Lease Like a Pro | /r/CommercialRealEstate/comments/x36es/negotiate_your_commercial_lease_like_a_pro/ | 0 | [] |
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10 Tips for a Successful Lease Negotiation | /r/CommercialRealEstate/comments/x2rls/10_tips_for_a_successful_lease_negotiation/ | 0 | [] |
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Google moves 3000 Motorola Mobility jobs from burbs to downtown Chicago | /r/CommercialRealEstate/comments/x7mcn/google_moves_3000_motorola_mobility_jobs_from/ | 0 | [] |
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JL Boyd Company Merges with Thornton Oliver Keller | /r/CommercialRealEstate/comments/x777q/jl_boyd_company_merges_with_thornton_oliver_keller/ | 0 | [] |
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Pest Management Ideas for Property Managers & Tenants | /r/CommercialRealEstate/comments/x99xp/pest_management_ideas_for_property_managers/ | 0 | [] |
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Why Due Diligence Is Important for a Seller | /r/CommercialRealEstate/comments/xb44w/why_due_diligence_is_important_for_a_seller/ | 1 | [{"id": "c5ksp2f", "text": "Cost segregation delivers results every time it's applied!", "replies": [], "depth": 1}] |
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How to Choose the Right Location for Your Business | /r/CommercialRealEstate/comments/xb3m6/how_to_choose_the_right_location_for_your_business/ | 1 | [{"id": "c5ksk80", "text": "Cost segregation delivers results every time it's applied!", "replies": [], "depth": 1}] |
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Here’s What to Do When You Inherit Tenants | /r/CommercialRealEstate/comments/xb1xb/heres_what_to_do_when_you_inherit_tenants/ | 1 | [{"id": "c5ks4ls", "text": "Cost segregation delivers results every time it's applied!", "replies": [], "depth": 1}] |
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Running restaurant with very good income for sale in Tecom, opposite Knowledge Village, Dubai.
Facing Sheikh Zayed Road. | /r/CommercialRealEstate/comments/xdudj/running_restaurant_with_very_good_income_for_sale/ | 0 | [] |
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Downtown Chicago Office Sales at Highest Level Since 2007 | /r/CommercialRealEstate/comments/xgarq/downtown_chicago_office_sales_at_highest_level/ | 0 | [] |
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Forbes: Commercial Real Estate Forecast: 2012-2013 | /r/CommercialRealEstate/comments/xilnp/forbes_commercial_real_estate_forecast_20122013/ | 0 | [] |
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Owe 600K on 1.1mil property and looking to refinance | 600k owed on a commercial property. Looking at a dozen foreclosures within the last few years, due to housing crash. Credit is wrecked because of it. Steady cash flow and some rental properties still. I'm looking to revamp the property, which is a strip mall. Looking for options to refinance. The bank that holds the mortgage won't do it because I only occupy one unit in the plaza. I have to occupy 50%, even though I own 100% and lease out the units. Just looking for direction fro you guys if you can help, and I thank you in advance. | /r/CommercialRealEstate/comments/xjjp1/owe_600k_on_11mil_property_and_looking_to/ | 2 | [{"id": "c6qagln", "text": "If I were to guess, the reason for the lack of enthusiasm by the bank is the personal credit not the fact that you occupy less than 50% of the property. It could very well be that they are concerned about the impact of the problems that you have in the other properties and how they can affect the one that they have in their books.\n\nSo what to do?\n\nIf the property cash flows, why don't you put a nice package together with a rent-roll, last two tax returns for the RE Holding Co. for the shopping center, your PFS and PTR, and a rough budget for the proposed improvements. and contact a couple of community banks, When you discuss the matter with the lender tell him about your credit woes and see if he can do the deal. You can even get your own credit report and give him a copy so he wont even have to pull one to let you know if he can do it.\n\nThe problem is probably the credit. It might be possible that the current bank might know too much about you :)\n\n", "replies": [], "depth": 1}, {"id": "c7sxh7h", "text": "Where is the building located? I find it hard to believe that if the building is worth $1.1m cannot substantially cover the debt service on a $600k note. Maybe the value of the building is lower than you think.", "replies": [], "depth": 1}] |
How to lease office space | /r/CommercialRealEstate/comments/xnr17/how_to_lease_office_space/ | 0 | [] |
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Does anyone have any experience with timber property? | My family owns 150 acres in Oregon with what I am told is high-quality douglas fir. A family member is in need of liquid cash and is anxious to sell the property (not the timber, the land itself). I am starting to get a picture of how daunting managing a timber sale is, however I am concerned that a hurried sale of the property is likely not the best move. I have been able to find quite a bit of information on how to approach a timber sale, but not a land sale. Any input would be greatly appreciated. | /r/CommercialRealEstate/comments/xs5db/does_anyone_have_any_experience_with_timber/ | 0 | [] |
Advice for a green Tenant Representative? | I just started at a fairly large commercial real estate firm. I am very excited as our company is growing rapidly and I am working closely with industry veterans. Since I only recently started I am primarily doing research for the the elder tenant brokers as well as for myself to cold call and try to start my own clients. I am currentky salaried but the idea is to have better knowledge of how the process works and some deals in the pipeline to and hopefully become full commission.
I feel like cold calling is very ineffective but possiblly a necessary evil when first starting out. Any tips/advice/reccomendations on how to get rolling in the business.
Edit: I am primarily focused on offices brokerage | /r/CommercialRealEstate/comments/y0v0i/advice_for_a_green_tenant_representative/ | 0 | [] |
zoning: Motorcycle storage facility + retail (tools & gear) + workshop rental | I'm curious about planning for a potential business venture and am wondering what kind of zoning I may need.
In an ideal world, I'd like to have the following:
* Climate-controlled motorcycle storage rooms for rent (small individual rooms for basic storage - 24/7 access for customers)
* Retail store in the building to sell maybe gear and tools (like a mini Auto-Zone for bikes)
* "Repair rooms" for rent where customers can perform maintenance on their bikes.
* Car Parking for storage customers for when they want to go on a ride.
This concept isn't even on paper. I'd imagine the repair rooms may be impossible due to high liability insurance, but it may be worth looking into. I guess the general idea is that people can store their bikes, work on them, and get the necessary tools all in one place.
Anyway, what kind of zoning would one need for bike storage and workshops like this (retail storefront wouldn't be priority)? Industrial? Could I look into converting a warehouse? If I buy land and build from scratch, what kind of zoning ought I be looking for? I'm just not sure where to start in the basic planning for the facility costs. | /r/CommercialRealEstate/comments/y0isp/zoning_motorcycle_storage_facility_retail_tools/ | 1 | [{"id": "c6tk2z2", "text": "Where are you trying to open this store? If you let me know the county, I will gadly look into it for you. I'm going a little stir crazy being stuck in because of hurricane Sandy. I specialize in retail CR but will be able to help you out. It mainly depends on the county that you live in. ", "replies": [{"id": "c6tlnu8", "text": "At this point, it probably wouldn't be for a while, but I'm definitely into doing some research for a year or so. Just purchased a cooperative apartment in Westchester that set me back, so another investment will be a while.\n\nHowever, I'd love to plan things out and at least build out a business plan over the coming months to get an idea of cost / benefit. I'm sure it can attract a ton of customers, although I don't know how much cost we'd be dealing with.\n\nI think for cost purposes, I'd have to be north of the 5 boroughs and Westchester, otherwise property taxes and prices would prohibit breakeven.\n\nMaybe Putnam, Orange, or Dutchess could be likely choices. Ideally, I'd assume it may be best to either convert a warehouse or remodel a storage facility, but I'm not sure what I'd need for a storage facility + workshop. Real Estate prices aren't that bad in those counties and it's close to \"motorcycle country\" for New York.\n\nFor someone like me, a store like that would be right up my alley. My coop association doesn't allow motorcycles on premises at all. I've got my bike stored at my parent's garage, but it's a challenge to try and maintain a space there to work with. It's been difficult to find 3rd party storage/garages that will allow for \"active\" bikes (all have been strict on Storage only and most storage facilities require the bike to be inactive for storage).", "replies": [], "depth": 2}], "depth": 1}] |
Chicago Suburban Office Market Guide | /r/CommercialRealEstate/comments/y0gst/chicago_suburban_office_market_guide/ | 0 | [] |
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Chicago Suburban Office Market Guide | /r/CommercialRealEstate/comments/y0g55/chicago_suburban_office_market_guide/ | 0 | [] |
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How to Prepare for That First Investment Property Purchase | /r/CommercialRealEstate/comments/y00r9/how_to_prepare_for_that_first_investment_property/ | 1 | [{"id": "c5r3015", "text": "Cost segregation delivers results every time it's applied!", "replies": [], "depth": 1}] |
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United Airlines moving its headquarters to the Willis Tower | /r/CommercialRealEstate/comments/y5oyb/united_airlines_moving_its_headquarters_to_the/ | 0 | [] |
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Commercial Real Estate: On the road to recovery | /r/CommercialRealEstate/comments/yajnd/commercial_real_estate_on_the_road_to_recovery/ | 0 | [] |
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Useable Square footage vs. Rentable Square Footage | /r/CommercialRealEstate/comments/ye0xe/useable_square_footage_vs_rentable_square_footage/ | 0 | [] |
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Retail Rental Properties in Indianapolis & Castleton | Broadbentcompany.com | Search retail rental properties listings for free in Indianapolis, Castleton & other cities. Get details about vehicles per day, etc. Call 317-237-2900 now! | /r/CommercialRealEstate/comments/ydf48/retail_rental_properties_in_indianapolis/ | 0 | [] |
The concept of buying land/renting it out intrigues
me, but I have zero knowledge when it comes to
that area. Could someone help me out?[x-post
from AskReddit] | I am only 21, looking to go off to college, my goal in life is to become a game designer/programmer/something in the gaming field. But the concept of buying land/fixing it up/renting it out has caught my interest. As it seems like a good way to make money, provided you have enough money to start out with.
Problem is, I don't know what all to "know" about this field.
People have told me I'd either need to be a land contractor, or hire one, which costs a lot of money.
What I was thinking of, was buying a cheap piece of property, fixing it up, and putting a mobile home on it/renting it out. I just don't know what all I would to know. Could someone with experience in this field help me out? | /r/CommercialRealEstate/comments/yded0/the_concept_of_buying_landrenting_it_out/ | 0 | [] |
Useable Square Feet vs. Rentable Square Feet | /r/CommercialRealEstate/comments/ylam5/useable_square_feet_vs_rentable_square_feet/ | 1 | [{"id": "c5wprr6", "text": "BOMA.\n\nIt gets more interesting when you deal with retail spaces that open onto the sidewalk. You can typically get the tenant to pay for a portion of the space outside of their front door. (not part of the public corridor/sidewalk) \n", "replies": [{"id": "c5wq309", "text": "In practice, many smaller commercial landlords do not use BOMA standards.", "replies": [{"id": "c5wqhyw", "text": "I work on the construction side and not the leasing side. We tend to use the BOMA system when working with the banks financing the projects. \n\nI could understand savvy tenants negotiating outside of the BOMA system.", "replies": [], "depth": 3}], "depth": 2}, {"id": "c6h0dpt", "text": "Never really used BOMA for retail. ", "replies": [{"id": "c6h20iw", "text": "There is a section in BOMA for retail... it's mostly a published metric for measuring leasable SQF. It is normally the starting place for negotiating rent between seller and leaser. Everyone shows up at a table saying the 10'x10' room is either 95 SF leasable or 115 SF leasable... and you talk your way to a number both sides can agree on. \n\nIt's a silly, but necessary process. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}] |
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Property Managers, Landlords & Leasing Agents - Multifamily People! What are the greatest lessons you've learned in this business? Share your wisdom.
| What are the lessons you've learned over the years? What do you wish you had known going in? What did you learn the hard way?
What is, hands down, the most important thing you learned?
| /r/CommercialRealEstate/comments/yrgk4/property_managers_landlords_leasing_agents/ | 0 | [] |
Job growth fueling Dallas commercial real estate | /r/CommercialRealEstate/comments/yzcg9/job_growth_fueling_dallas_commercial_real_estate/ | 0 | [] |
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Attract New Tenants Through Internet Marketing | /r/CommercialRealEstate/comments/z12rv/attract_new_tenants_through_internet_marketing/ | 1 | [{"id": "c60k54o", "text": "Looks good", "replies": [], "depth": 1}] |
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Going for a Commercial Real Estate interview tomorrow - Any pointers? | As the title says, I have an interview tomorrow morning with a prominent Commercial Real Estate company and was wondering if any one had any pointers/tips beforehand. I have done research on the company and know the residential side of things more than commercial. What are the largest differences? | /r/CommercialRealEstate/comments/zezv3/going_for_a_commercial_real_estate_interview/ | 0 | [] |
Attractive Floor Tiles For Residential And Commercial | Tile Supply has a wide range of floor tiles including ceramic floor tiles, porcelain floor tiles and mosaic floor tiles these tiles are mainly used in bathrooms, kitchen, domestic and commercial on tilesupply.co.uk | /r/CommercialRealEstate/comments/zecmi/attractive_floor_tiles_for_residential_and/ | 0 | [] |
Refinance funding? | Anyone have contacts for or access to debt refinancing?
Our company would like to do a 1.85M refinance, 2 years interest only, and a 20 year note @ or below 5%. (We are offering it @ 5% because our current rate is lower, but we'd like to combine our separate notes we have out).
| /r/CommercialRealEstate/comments/zd5s8/refinance_funding/ | 1 | [{"id": "c6qa51q", "text": "The \"interest only\" is going to be the only problem to get bank financing. Other than that, I would contact a neighborhood community bank.\n\nOther than improving the cash flow, what is the reasoning behind interest only? ", "replies": [{"id": "c6qbqin", "text": "My grandmother is at the end stages of her life (our owner) and we'd like to be able to do a few things for her. \n\nThat and do some things for me. I've worked for less than I pay my employees for 6 years now, and my wife has been on me to either change jobs or give myself a raise (which effectively I can do, I just always plan for the worst and if we are comfortable and can make a living on what I make a year where we live then I'll get my come-uppance when due so to speak).", "replies": [{"id": "c6qc841", "text": "Difficult sale. The savings in cash flow are going to be going out to the owner and management. \n\nFrom a bank lender perspective, we do interest only in situations where the commercial property is in the process of stabilizing due to vacancies or ongoing improvements.\n\nYou seem to have already somewhat competitive rates, so the only benefit would be from consolidating the notes. I guess you could try for a cash out if the business supports a higher debt service. Hard to say without looking at the numbers.", "replies": [{"id": "c6qh2qh", "text": "Yeah, that's what we've been up against. The bank is offering cash out against it instead - basically enough to escrow 2 years of payments.\n\nWhich - in essence - is the same thing. At the end of those 2 years we would be back to the same amount we owe anyway.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}] |
Leasing retail space, advice sought | I'm considering purchasing a mixed use building in a seaside area, I'm planning on renovating the upper floors and renting them as apartments during the season. I have that part of it covered.
I'm planning on soliciting some smaller chains for the first floor retail space, I'm going to have some renderings done showing their concept located at my property.
As a contractor who will be doing the property renovation myself I can offer contribute significantly to covering the build out costs for them..and for the right chain I'm willing to make significant year 1 rent concessions.
Any advice for approaching these companies and/or getting the word out to other possible entrepreneurs about the space and concessions I'm willing to make to make the project work? | /r/CommercialRealEstate/comments/zmnq0/leasing_retail_space_advice_sought/ | 2 | [{"id": "c6qa2ya", "text": "For retail, you will have more success by placing a large sign at the property's frontage or getting a realtor. I do not think you will get any takers by trying to market directly to some companies that might not even be thinking of expanding.\n\nGet a nice sign with details about the space.\n\nGet a realtor and get the property listed. \n", "replies": [], "depth": 1}, {"id": "c6tke9w", "text": "Yes, contact a local brokerage firm that specializes in retail leasing first before you do anything else. Get their opinion before you buy the space/put any money into it. \n\nThis is an extremely difficult process and you need a professional to facilitate the process. \n\nI cannot stress the fact enough of finding a company who specializes in retail leasing. Do not go with a residential realtor. \n\nWhere is the property? I will gladly share a list of companies you should reach out to. \n\n", "replies": [], "depth": 1}] |
Management | /r/CommercialRealEstate/comments/zpb8y/management/ | 0 | [] |
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Property Underwater? Consider Right Sizing your Mortgage... | /r/CommercialRealEstate/comments/1072yl/property_underwater_consider_right_sizing_your/ | 0 | [] |
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Cheaper Rupee attracts more NRIs to realty market | /r/CommercialRealEstate/comments/10jyk2/cheaper_rupee_attracts_more_nris_to_realty_market/ | 0 | [] |
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Amendments in GAAR by Finance Minister: Key takeaways | /r/CommercialRealEstate/comments/10lue5/amendments_in_gaar_by_finance_minister_key/ | 0 | [] |
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Twin City Plaza Office Space Avaliable | /r/CommercialRealEstate/comments/10rspq/twin_city_plaza_office_space_avaliable/ | 0 | [] |
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Commercial Real Estate Brokerage News Hub | /r/CommercialRealEstate/comments/10rdo3/commercial_real_estate_brokerage_news_hub/ | 0 | [] |
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I would really appreciate some advice | I'm set on finding an industrial space to live in. I would just like some advice on how to go about finding them, because the surface level sites (craigslist,loopnet,etc) are really lacking listings and accessibility. I know it's doable and I'm aware of zoning laws and all the other obstacles that come with trying to find an industrial space I can live comfortably in, but I would really appreciate some tips on at least finding places that are zoned correctly or at least have the owners consent to live inside. Thank you for reading. | /r/CommercialRealEstate/comments/10t7xk/i_would_really_appreciate_some_advice/ | 0 | [] |
Chicago: 1 S. Wacker to sell for $230M | /r/CommercialRealEstate/comments/10vepc/chicago_1_s_wacker_to_sell_for_230m/ | 0 | [] |
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Unoccupied Commercial Property Insurance – Don’t be Vulnerable to Squatters | /r/CommercialRealEstate/comments/10v7k8/unoccupied_commercial_property_insurance_dont_be/ | 0 | [] |
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Barclay Tower becomes World’s First Intelligent Energy Storage Powered High Rise | /r/CommercialRealEstate/comments/10yabi/barclay_tower_becomes_worlds_first_intelligent/ | 0 | [] |
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Commercial Roofing Denver | Discover Matrix Roofing & HVAC in Denver, CO | /r/CommercialRealEstate/comments/115nfo/commercial_roofing_denver_discover_matrix_roofing/ | 0 | [] |
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Office Space for Rent in Delhi | Furnished Offices Lease New Delhi India | /r/CommercialRealEstate/comments/114dj8/office_space_for_rent_in_delhi_furnished_offices/ | 1 | [{"id": "c6j7ilf", "text": "Office Space for Rent in Delhi :- Fully Furnished Offices on Lease Rent Commercial Office in New Delhi | South Delhi India, View Available Space for office Now!", "replies": [], "depth": 1}] |
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Any Australian r/CommercialRealEstate Users? | I'm a student coming near to the end of my Property studies at University and wanting to become as involved as possible with those also in the industry.
I'm particularly interested in Commercial Property Development, as I'm sure other users are just as interested in other aspects of Commercial Property (i.e. Sales, Leasing, Management, Strata) could provide interesting insights into the market.
Just seeing if there are enough Aussie users on here to form a small community within a community and share what we think of the market, and the news surrounding it. | /r/CommercialRealEstate/comments/11qgvb/any_australian_rcommercialrealestate_users/ | 2 | [{"id": "c7c4pg5", "text": "Resi here, as usual about a month behind.", "replies": [], "depth": 1}, {"id": "c7xw65x", "text": "Currently working on a project at the moment, would love to get advice and perhaps a joint venture ", "replies": [], "depth": 1}] |
Any Australian r/CommercialRealEstate users out there? | I'm a student coming near to the end of my Property studies at University and wanting to become as involved as possible with those also in the industry.
I'm particularly interested in Commercial Property Development, as I'm sure other users are just as interested in other aspects of Commercial Property (i.e. Sales, Leasing, Management, Strata) could provide interesting insights into the market.
Just seeing if there are enough Aussie users on here to form a small community within a community and share what we think of the market, and the news surrounding it. | /r/CommercialRealEstate/comments/11qcvs/any_australian_rcommercialrealestate_users_out/ | 0 | [] |
Retail Spaces Indianapolis, Commercial Property Rental Indianapolis | The Broadbent Company leasing team understands retail spaces and knows when a deal is right. Our goal is to make every client a long-term client. For more details call us on 877-503-7112 | /r/CommercialRealEstate/comments/11six0/retail_spaces_indianapolis_commercial_property/ | 0 | [] |
Commercial Rental Space near Lafayette Square Mall, Indiana | Search for commercial rental space near Lafayette Square Mall, indiana. Get details about property & site plan, etc. Call 317-237-2900 or request a quote now! | /r/CommercialRealEstate/comments/11sh8p/commercial_rental_space_near_lafayette_square/ | 0 | [] |
Stress Testing Income Property – Commercial Underwriting | /r/CommercialRealEstate/comments/11wze4/stress_testing_income_property_commercial/ | 0 | [] |
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Rebirth of the Dallas Design District | /r/CommercialRealEstate/comments/1253u4/rebirth_of_the_dallas_design_district/ | 0 | [] |
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Expert Insight: Single-Tenant Retail - Q&A with Scott Haire, director at Capview Partners | /r/CommercialRealEstate/comments/12ac6n/expert_insight_singletenant_retail_qampa_with/ | 0 | [] |
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U.S. Real Estate Recovery Challenged by Hurricane Sandy | /r/CommercialRealEstate/comments/12cng0/us_real_estate_recovery_challenged_by_hurricane/ | 1 | [{"id": "c731k2y", "text": "We all knew that it was going to be a large challenge ", "replies": [], "depth": 1}] |
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Hurricane Sandy's Impact on Real Estate Developers | /r/CommercialRealEstate/comments/12lgfs/hurricane_sandys_impact_on_real_estate_developers/ | 0 | [] |
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Commercial Real Estate Negotiations | What are some helpful guidelines that you and your agent should employ when negotiating a lease and specifically an industrial property? | /r/CommercialRealEstate/comments/12n448/commercial_real_estate_negotiations/ | 4 | [{"id": "c6wjml1", "text": "Your agent should be able to tell you how the property compares to others in the market, what is typical for lease term, rental abatement and tenant allowance for buildout.\n\nUltimately the landlord will decide what concessions they are willing to make and the tenant decides how much they are willing to pay. These can be very individual and are not always directly tied to the market conditions.\n\nIt's also important to know what the tenant or landlord's goals are in leasing the property? Do they want the deal to get done at any cost? Oftentimes there are outside business factors that make getting a lease done sooner rather than later worth more than saving a few dollars on the lease. Other times a company has more flexibility and getting the best deal will be more important.", "replies": [], "depth": 1}, {"id": "c6wkbuv", "text": "It all depends on how stuck you are on a certain area, quantity of the market, are you able to engage offers on multiple properties within a single area? What value will you be bringing to the property over the long term, to the other tenants of the industrial park?\n", "replies": [], "depth": 1}, {"id": "c6wua6m", "text": "I'm an Commercial Real Estate agent in NYC. In NYC property owners and buyers are very educated and tend to be very difficult negotiators. \n\nIf you are having ANYONE negotiate on your behalf you have to be on the same page with them and TRUST them. Even though a real estate agent expects to handle all communications in the negotiation, if you dont know him, insist of being present during all neogitations.\n\nIf u want to be hands on in finding a property and negotation, you can always use your lawyer to represent you. A lawyer legally can broker real estate transactions.\n\nA real estate agents goal (they dont ever admit this) is to get a deal done. Where the deal is done doesn't matter to them. But your goal is to get the best price possible price. However if there if you have a good relationship with a good agent, you will have confidence they will work in your interest. \n\nThree quick tips I can give you.\n1) Low ball your offer but ALWAY present hard evidence on why you are coming up with that low number. Present hard evidence like 1) Price Comps 2) Deficiencies in the property 3) Problems with location. 4) Economy outlook. DO NOT BE EMBARRASSED TO LOWBALL you are running a business its your livelihood.\n\n2) If you give up any concessions during a negotiation, always ask for somethng back. Negotiation is a compromise. If you are not trading concessions you are not compromising. You are being taken advantage of. \n\n3) Always try to understand the point of view of the owner. First you will subconsciously might be able to figure out where the deal can be done and secondly you will be able to relate to the owner on a personal level. That encourages the owner to be loosned up. If you are negotiating through an agent- make damn sure that he does it on your behalf. \n\nFor more information I have a blog visit www.jondavidbrooks.com", "replies": [], "depth": 1}, {"id": "c6wzmcq", "text": "There is a lot of information available on the market rents at loopnet and costar. This information is available even with a free membership. Since your goal is to get the lowest possible rent, being able to pick and choose the right comps is very important.\n\nThere are a lot of areas where the industrial segment is still very weak. If you happen to be looking for space in one of those areas, you are in luck. Information is your friend.\n", "replies": [], "depth": 1}] |
Why Warehouse? | /r/CommercialRealEstate/comments/12quod/why_warehouse/ | 1 | [{"id": "c6yam1v", "text": "Why warehouse? What are you asking?", "replies": [{"id": "c7cemsk", "text": "It's just the name of the article.", "replies": [], "depth": 2}], "depth": 1}] |
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Compensation and Candidates | /r/CommercialRealEstate/comments/134y0e/compensation_and_candidates/ | 0 | [] |
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Building a Competitive Database of Local Buildings | I'm fresh out of college, and just got hired as an intern at a commercial real estate firm.
One of my first major projects is building a database of local office buildings (mostly high rises in the city) and building a spreadsheet including name of company, suite number, sq ft, price per sq ft, and rental lease expiration date.
I have physically gone to the buildings to get the name of each company and what suite they're in, and back at the office, have been calling or emailing to find out the info I need.
The problem I'm running into is twofold... A) the person answering the phone usually has absolutely no idea about square footage or when their lease ends, and B) if I can get them to transfer me to the proper person, I've been getting some resistance getting the info from them (understandable, as they have no incentive to answer those 3 questions).
Does anybody have ANY suggestions on how to get this info? I'm going to attempt to physically go from suite to suite instead of calling, but I still feel like I'm going to get shut down a bunch.
I just don't want to not be able to complete my first project as an intern, I don't want to give them an incomplete spreadsheet and excuses.
Thanks in advance for any and all help!! | /r/CommercialRealEstate/comments/13fn9b/building_a_competitive_database_of_local_buildings/ | 0 | [] |
Preparation Guide for Leasing Commercial Property
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Be careful when considering property lease agreement | It is undeniable that no matter what type of property you are about to lease, whether it’s some commercial space available in a shopping center, or a pad, you will obviously have to take care of the property lease agreement. | /r/CommercialRealEstate/comments/13uwvd/be_careful_when_considering_property_lease/ | 0 | [] |
Apartment Building Boom Drives Recovery In Commercial Construction | /r/CommercialRealEstate/comments/140acb/apartment_building_boom_drives_recovery_in/ | 0 | [] |
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Checkout Career In Commerce!! | /r/CommercialRealEstate/comments/141ozq/checkout_career_in_commerce/ | 0 | [] |
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Creating Professional Environment | /r/CommercialRealEstate/comments/141krb/creating_professional_environment/ | 0 | [] |
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Commercial Properties Pune | /r/CommercialRealEstate/comments/143n5d/commercial_properties_pune/ | 0 | [] |
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Welcome Gittleson Zuppas Medical Realty to the Inforum Network | /r/CommercialRealEstate/comments/148l2x/welcome_gittleson_zuppas_medical_realty_to_the/ | 0 | [] |
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Vacancy deduction? | I recently started my career in a commercial real estate firm. I was going over a BOV and came across a line in the pro forma that said "10% vacancy deduction". Is this a tax expense or some other kind of expense? please elaborate. Thank you! :) | /r/CommercialRealEstate/comments/14bxr3/vacancy_deduction/ | 2 | [{"id": "c7bp2f8", "text": "I am a commercial appraiser in Austin, TX. The vacancy loss accounts for typical market vacancy. When analyzing potential income, you have to acknowledge that the property is not going to be 100% leased into perpetuity. If you are looking at a single tenant building, a 10% vacancy loss might indicate that the analyst feels that market leases are five years (60 months) and that between leases, it will take six months to market and re-lease (6 / 60) where the owner will receive no rental income. ", "replies": [{"id": "c7bq9y7", "text": "^ This pretty much.\n\nSingle tenants are funny situations where you are likely either fully leased or 0% leased. For that reason I would suggest doing a DCF on single tenants, but it is obviously situational. I think the OP needs to realize that all these tools for valutations are just that tools, and there are many of them that you can use and see if they all make sense together to pass the \"sniff test\".\n\nThe one thing to watch out for re: vacancy is when using market or current vacancy is if you have data for the market (often times it can be harder to find this for smaller markets), for that that reason it is useful to document what your assumptions are for vacancy, and what data supports your reasoning.", "replies": [], "depth": 2}, {"id": "c7eaxvg", "text": "The investment grade debt rating of said tenant can also be used in this analysis. A tenant like CVS is going to get very favorable UW treatment with respect to vacancy loss. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "c7bqv2t", "text": "Thank you, this was very helpful! ", "replies": [], "depth": 1}] |