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This lease structure provides for the tenant to pay its share of all operating expenses, typically including: property taxes, insurance, common area maintenance and utilities.
This is a calculation based on the tenant’s proportionate share of common areas of the building (restrooms, lobby, corridors, etc.) that is added onto the usable square footage of the lease space to calculate the rentable square footage.
This number varies greatly depending on the location and building quality. Our professionals at ECR are happy to provide specific market research and information.
The landlord typically pays commissions to both the landlord’s representative and the tenant’s representative based on a percentage of the lease value (commonly 2% for the landlord’s representative and 4% for the tenant’s representative).
The timing of the commercial real estate leasing process can vary greatly, between a few weeks, and it can take upwards of a year with more complex transactions. We recommend beginning strategy discussions with your real estate representative a minimum of six months before the requirement target date.
Generally, once a contract has been executed by both the buyer and seller and deposited with the title company, there is a 30 +/- day feasibility period for the buyer to further review the property with closing occurring approximately 30 days following the end of the feasibility period. Please note that these time period can vary greatly, in particular for land transactions.
A Brokers Opinion of Value (BOV) is a Broker or commercial real estate salespersons profession opinion of valuation of a property based on their experience and research. The real estate professionals at ECR are available to provide Brokers Opinions of Value.
A Tenant Improvement Allowance (TIA) are funds the landlord provides to the tenant within a lease to make certain construction improvements to the lease space.
Providing construction that is turnkey means completely built-out based on specified plans. Specifically, all electrical, mechanical, lighting, fixtures, flooring, paint and other cosmetic items are to be included in the turnkey construction. While negotiable, it is common for turnkey construction to be provided at the landlord’s expense according to plans and specifications previously agreed upon by both parties, unlike an allowance where the tenant pays for all construction costs in excess of the allowance amount.
According to IRC Section 1031, a properly structured 1031 exchange allows an investor to sell a property and to reinvest the proceeds in a new property purchase and to defer all capital gain taxes.
There are a number of guidelines and timelines to follow to properly execute a 1031 Exchange. As such, it is recommended to consult with an attorney or 1031 Exchange advisor during this process.
Companies who do not use representation are more likely to pay higher rents and/or receive less incentives from landlords.
At no cost to you, ECR brokers negotiate on your behalf, saving you on future real estate costs.
ECR has earned a strong reputation with both tenants and brokers in the market for being trustworthy, respectful, and of integrity.
Having unparalleled market knowledge, insight, and relationships help us perform best for our clients.