Lakeland Florida Commercial Real Estate

STROLLO EARNS PRESTIGIOUS CCIM DESIGNATION

Mon, 5 Nov 2012 11:00:39 0300

Joins a global network of distinguished commercial investment real estate professionals. Lakeland, FL (October 2012)-Jack A. Strollo, CCIM, Managing Broker, Broadway Real Estate Services, Lakeland, earned the Certified Commercial Investment Member (CCIM) designation from the CCIM Institute, one of the leading commercial real estate associations in the world.

Owning cost money....

Mon, 24 Sep 2012 09:16:16 0300

Whether you are a landlord or your business owns the building you occupy, you already know that it is a costly venture above and beyond the mortgage payment.

Property Managment

Wed, 5 Sep 2012 10:12:43 0300

Many owners consider a property manager, but what should you look for in a good one?

How much space AM I getting???

Tue, 21 Aug 2012 10:24:18 0300

Time to find a new location for your company. You start by giving the broker the current space you have and then telling them you need to double that space, but is that really accurate?

To lease or not to lease...

Thu, 9 Aug 2012 15:17:10 0300

...that is the question? Well it can be fairly easy to answer or fairly complicated depending on the scenario, tenants needs, long term projections for the company, and more.

CAM fees - What are they for???

Fri, 30 Mar 2012 14:52:23 0300

I am negotiating a small office space for a national tenant and the local rep asks me, "What are CAM fees?". Sounds easy to answer, and in fact, it used to be, but in today's real estate market this somewhat straight forward term has become a catch all phrase.

CAM used to be very standard and meant to cover Common Area Maintenance, but what it has now become is a term that encompasses any cost the owner would like to pass along to the Tenant. What this does is create a very open interpretation of what items should be included in this fee. Leases should incorporate an entire section explaining what costs will be allocated as "CAM", what items will be excluded from CAM, and how the included costs will be managed. In other words, perhaps the janitorial is included in CAM and the owner is responsible for the janitorial service, then that cost needs to also be maintained as in line with the area costs of similar services. This protects the Tenant from the landlord hiring someone at $10 and hour to clean the premises and billing the tenant as $100 per hour.

Just be very cognizant of this section, which is usually labeled "Operating Expense" , and make sure to question any portion that you may not agree with. Remember, once you sign, the deal is set in stone!

Not always the right tenant mix....It's ok to say no.

Mon, 12 Mar 2012 10:01:35 0300

I have a new Landlord who has listed her property with me and the marketing has begun. Now, amidst these challenging times, the property has sat on the market for almost a year. The first full price offer we get is from a Psychic! Well she has had a past tenant who has created some issues over the years. That tenant is a funeral home. Needless to say, adding a psychic to her already troubled tenant of a funeral home was not something she wanted to do.

I think she made the right decision. Morale of the story? Don't just take the money when you get a tenant. If possible (financially speaking) take a step back and try to look at the long term picture, you know, from 10,000 feet. This property could easily have been used more retail oriented, and gotten higher rents had she not put the funeral home in. Oh, and BTW, make sure to enlist the help of a professional commercial real estate broker. Had she done that first, she might have been in a better place today...

Yes, you really do need a Tenant Rep

Thu, 1 Mar 2012 09:42:44 0300

A tenant rep is an real estate broker who represents a tenant in a lease renewal and/or alternatives to new locations in the market place. Why do you need a tenant rep to renew your lease? Because yo have been in that lease for the last three years and the market has changed, the inventory has changed, the pricing and terms in the market have changed, and only a commercial real estate professional is going to be able to have a handle on those changes and be able to aid you in getting the best possible outcome to the renewal or new space question.

The best part is that in 99% or the circumstances, the tenant rep will be compensation by the landlord/broker of the final space you occupy. Who doesn't like free consultations?

Keep you hands on that lease - it may come in handy!

Tue, 14 Feb 2012 17:31:28 0300

Ok, so you found the perfect space to lease for your business, now you sign the lease and start the process of moving in, renovating, IT wiring, space planning, and the fun begins! Business goes well and before you know it a year has gone by.

Now check your self and go find that lease, because you only signed a two year deal. You may actually need to start looking at spaces again to move in the next 12 months. Because, if you remember, in that lease there is a clause that you have to give your landlord 90 days notice to renew, so now you are really down to 9 months.

Point is keep the lease handy, once you sign the initial lease, enter some specific dates in your outlook calender so you know when you have to start revisiting the leasing matter again. Do not wait too long or you may be forced to renew in your existing space at far higher rates.

Your broker is really on your side...

Mon, 30 Jan 2012 17:13:02 0300

Buyer's take heed, your broker is really working for you - Trust them!