This month’s newsletter has just been released! Check out the latest tips for tenants and users of commercial real estate space.
In this issue
- Build To Suit and Flex Buildings
- The Role Of An Asset Manager
- Office Building For Attorney Only
- The Professional Approach To Lease Renewals
There has been a move on the part of industry to relocate from the cities to the suburbs during the past few decades. The result of this has been the establishment of industrial and office parks in those suburbs. Many of these have been planned and developed by private investors; others have been planned or sponsored by public agencies. Preparation for construction of an office or industrial park is expensive. It includes plotting, grading, and installing streets, utilities, rail connections and other facilities. With the increasing difficulties in securing clearances and permits, speculative development in building these facilities is down……(more)
The institutional investor has found that income property must be placed under the supervision of professional, experienced and innovative managers. With more property moving into the ownership of institutions and real estate investment trusts, the need for asset managers increases……(more)
Property managers must show some imagination to keep a property fully rented. One way to keep an office building occupied is to consider specializing–renting to members of one professional field…….(more)
No matter what the current vacancy factors are in any area, tenants feel they can negotiate with the landlord, whether in an apartment building, an office building, or commercial center.
With other space available in the local rental market, the tenant will certainly be aware of all the possible terms for a lease renewal. If the owner or manager of the property is inflexible and unreasonable, tenants know they will have no trouble finding available replacement space in a building nearby. A professional manager is aware that a prolonged lease negotiation can quickly result in a vacancy. In an eagerness not to lose prime tenants, landlords may try to sweeten the pot by offering new amenities or higher levels of service than tenants actually would ask for. These promises may not even be necessary……(more)
