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rate: What is a lease abstract and how can it help your business? - 06/22/10 03:05 PM
Most corporate real estate leases consist of several dozen pages and in some cases upwards of a hundred pages or more. A lease abstract is a 1 or 2 page snap-shot of your lease in an easy to read format. The process involves reading through your entire lease and abstracting pertinent information. Some examples of extracted information include the following:
• Date Lease Signed
• Date Lease Expires
• Length of Term
• Current Rate Being Paid PSF
• Escalation Clause
• Termination Options
• Security Deposit
• Penalty Fees If Any
• Renewal Options
• Contraction & Expansion Options
… (1 comments)
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rate: Newmark Knight Frank - Detroit Industrial Market Report - 1Q10 - 06/22/10 02:15 PM
Conditions in the Detroit industrial market continued to weaken during the first quarter of 2010. Total net absorption was negative for the sixth consecutive quarter as nearly 1.7 million square feet were put back on the market. The vacancy rate increased to 20.0%, the Detroit industrial market high on record since 2000. The average asking rent fell to its lowest point on record to $4.02/sf from $4.04/sf reported during the fourth quarter of 2009. Average asking rents in the Detroit industrial market have remained in the $4/sf to $5/sf range for the past eight years.
The Groesbeck submarket was one … (0 comments)
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rate: Newmark Knight Frank - Detroit Office Market Report - 1Q10 - 06/22/10 02:00 PM
Weakening conditions prevailed in the Detroit office market during the first quarter as the vacancy rate rose to 24.7% from 24.2% in the fourth quarter of 2009. The vacancy rate has remained above 20.0% for over three years. Total net absorption was negative for the ninth consecutive quarter as 418,407 square feet were returned to the market.
Average asking rents declined slightly in the first quarter to $19.63/sf from $19.67/sf in the fourth quarter and were down 1.7% from $19.97/sf reported one year ago. Rents have declined 15.3% from $22.63/sf, the peak during the fourth quarter of 2000.
In the … (0 comments)
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rate: Not Another Office Lease Nightmare Story!? - 07/16/09 10:41 AM
Yet again, we met with another company and the story is the same!
So many of these companies signed leases in a "different" market, and the lease that they had agreed upon included an annual increase, or a rent escalation, usually of $.50 cents per square foot per year. The problem is, they are in their 3rd or 4th year of a long term lease and they are now paying an exorbitantly high price per square foot. In some cases, they are paying close to DOUBLE what the market rate is.
What is Rent Escalation? Fixed rent over a longer-term lease … (0 comments)
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rate: How to get the VERY BEST DEAL on your Next Office Lease - 07/13/09 01:13 PM
The past months and years of difficult economic times have taken their toll on the corporate real estate market. Many brokers are predicting a tough road ahead for landlords who purchased buildings with financial expectations that won't be met. Discounts can be found for companies of all sizes, in buildings of C, B and A classes (i.e. Good, Better, Best).
Knowing what to look for and how to go about it can save your company thousands to hundreds of thousands of dollars. Here a few simple guidelines to follow when reviewing your new office lease:
1.) Use a tenant representative broker.Finding … (0 comments)
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rate: What's it Worth? Deriving Your Capitalization Rate - 03/12/09 12:08 PM
How do you know what a commercial income property is worth? How do you know that you can get your desired return on your investment? Is there a way to calculate the maximum you can pay for an investment and still achieve your investment goals? This article will answer these questions and more about valuing income property.Many real estate investors determine the value of an income property by using the capitalization rate, aka cap rate. It is probably the one most misused concept in real estate investing.While brokers, sellers, and lenders are fond of quoting deals based on the cap rate, … (2 comments)
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rate: What is a Lease Restructure? - 10/17/08 01:35 PM
The idea of a lease restructure is fairly simple:
Assume that you have 4 years remaining on your original 10-year term lease. Your original lease was most likely structured with an annual increase based on yesterday's lease rates. If you were to sign a lease today in most cases it would be lower than what you are currently paying. We would build leverage by placing your existing space on the market for sublease, examining less expensive options and approaching your landlord to restructure your lease. During this lengthy negotiating process with your landlord we would also approach several outside landlords to … (0 comments)
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Jason Tucker
Richmond,
VA
More about me…
Address: Richmond, VA, 23294
Office Phone: (248) 431-8138
Cell Phone: (248) 431-8138
Email Me
Jason is personally committed to a holistic approach for assisting local and international companies with their strategic real estate needs. He provides his clients with targeted real estate market research, industry trend analysis, and logistics solutions that enable them to make well-informed, cost-effective decisions about their businesses.
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