This week’s installment of the Landlord and Tenant Tips we will cover the steps to cover when Hiring a Commercial Real Estate Broker.
First you RECOGNIZE you need a professional. It may hit you like a ton of bricks or it may have taken you years with no results to arrive at this decision. You may be a Landlord who needs to lease vacant space or sell a property, or a Tenant interested in a new location or a renewal of a current one. The good news is you’ve completed the hardest part!
Doesn’t matter how you got here, it only matters that you have (or almost have). Check that off your list and move to the easy part. Second step is
Welcome to the #Landlord Tips and #Tenant Tips section of the Charleston Retail Commercial Real Estate blog.
Today we discuss Landlords and Tenants, their roles and what is typical or reasonable to expect from each other and how we memorialize the agreement at a Shopping Center.
Let’s begin with the Landlord and the question “What is a Landlord?”.
Landlord, most simply, is the one who receives rent. The Landlord can be an individual person like my Mom, or it can be a global investor like http://www.blackstone.com/. You may deal directly with my Mom, or the regional manager of the local company or a fund (group of investors) that may own the property. Regardless of who you deal with as the Landlord (and don’t underestimate Mom), they are in the role to manage and increase the value of the property. This is very important to be aware of because it creates adverse position to that of a Tenant. Exactly what the Landlord bargains to provide to the Tenant will vary based on multiple factors, but for now lets stick to a suburban retail shopping center building as the property the Tenant would like to Lease. In our Shopping Center, let’s call it “Charleston Square,” the Landlord provides
Coastal Tides Retail Newsletter, July 2014
The Dallas-based retailer of closeout housewares and decor relocated to 680 Long Point Road, adjacent to PetSmart, after leaving its store on Coleman Boulevard about a year ago to make way for the Southern Seasons outlet.
Design plans submitted to the town of Mount Pleasant reveal a new facade and a restructuring of the shopping center’s five parcels. The former Kmart superstore, which closed in January, will be split into two storefronts designed for Nordstrom Rack and Dick’s Sporting Goods.
After an exhaustive search, Ruth’s Chris Steak House has selected
“The best time to plant a tree was 20 years ago. The second best time is now.”
Retail Market is Back in Business as RECon 2014 Wraps Up
By the end of the day Tuesday it was clear that the industry’s expectations for the 2014 RECon show had been fulfilled-the retail real estate market is once again vibrant, with tenants signing new leases, lenders clamoring to offer debt for new acquisitions and multiple investor classes looking to buy retail assets, wherever they may find them.
More From ICSC RECon 2014
The Changing Dynamic Between Retail Landlords and Tenants
How to Turn Around a Challenged Center Around
Don’t Overthink It; Do the Retail Deal
Large Box Shifts to Smaller Formats
Outdoor retailer Gander Mountain picks
“The successful warrior is the average man, with laser-like focus.”
The way to get started is to quit talking and begin doing.
Walt Disney Company