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Commercial Real Estate Dual Representation

What is Dual Representation?                                                                If you’re involved in any leasing/purchasing real estate process it’s likely you’ve come across the term “dual representation” and it’s basically this: dual agency representation happens when the same broker or firm represents both the tenant and landlord in the same transaction. It’s common to find this happening when big firms are involved in the process. What might seem like...

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The Value of an Experienced CRE Broker

Selecting the right office space is one of the most important decisions a business owner can make. It’s crucial to have an expert commercial real estate broker to guide you through the process. A commercial real estate professional, exclusively representing your interests, will not only  handle every detail of the transaction but they will also provide invaluable insights, connections and business support that will ultimately benefit both your top and bottom line. Access to In-Depth Market Knowledge There are a multitude of places your business could call home. Experienced brokers make it part of their job to...

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How Much Time Do I Need To Find New Space?

Market conditions, the size and complexity of the transaction, and option notice dates can help determine when to begin the process of evaluating your office lease. Time should be your ally, not your enemy during negotiations with any landlord. Landlords know that other buildings you’re considering will most likely have to create a space plan, get construction pricing, agree on a rental rate, prepare and execute a lease document, apply for construction permits and prepare the space for occupancy. This is, at a minimum, a 4 to 6 month process. A tenant who waits until...

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You’re Joking, Right?…We Have To Do What?

The Restoration Provision When reviewing a multipage, landlord-centric commercial lease it’s easy to get glassy-eyed and often overlook seemingly harmless language. The restoration provision, usually tucked away under the Surrender of Premises Clause in your lease, is a perfect example and could be a potential tripwire hiding in plain sight. It’s a legal obligation for a tenant to restore, at the landlord’s request, the premises back to the condition it was in before you moved in or remove alterations and improvements as the landlord sees fit. This could be a very expensive parting gift to...

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Teamwork

Securing and delivering a great new space for your company is not a solo venture. It requires the collaborative effort from a team of professionals involving multiple disciplines. They typically include a tenant representative, architect/designer, project manager and a contractor. In addition, to ensure a smooth transaction, a good real estate attorney is also required. The best tenant representatives possess the skills to assemble, coordinate and manage the diversified team of professionals involved in the leasing process so consider howardcommercial when you’re ready for a great new space. Call me at 314-821-0085 or send me an...

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Real Estate Is Dynamic | Never Static

Commercial Real Estate like all things is dynamic – it is never static. There are always cycles, always changes. The Art of being engaged in Commercial Real Estate is to understand the turning of the wheel so to speak. There is a combination of art and science in making decisions and matching opportunities to objectives, balancing risk against performance. What is it that you seek? Where are the market opportunities today? Is it time to buy or sell? Lease or Own? At howardcommercial we make it our priority to understand the subtleties and nuances of the market cycles. Our greatest...

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Don’t Automatically Exercise That Renewal Option!

Each lease expiration should be viewed as an opportunity to explore and develop alternative space options. Only after an exhaustive search can the decision to either renew or relocate be made with confidence. Needless to say, this can be a lengthy process which should start well in advance of the lease expiration depending on the size of the requirement. If your first choice is to renew, this process will provide the much needed leverage you will need when negotiating with your current landlord. Most commercial leases typically run between 5-10 years. In well negotiated leases...

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Why You Need An Exclusive Tenant Representative

                                                                                                                            Leasing Commercial Space is a Risky Approach On Your Own… The process of securing commercial space for your organization, whether it is a new location or extending a lease in your current building,...

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