Top 10 steps to being a GREAT Tenant Rep broker.

In this weeks installment of the Tenant Tips will discuss how to be a great Tenant broker.

Top 10 Steps

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This is my Top 10 list to discuss how to be a great Tenant representative broker. On a macro level the Tenant Rep always looks out for the best interests of the Tenant. Remember the Tenant comes first, not your listings, not just the easy sites, and never the fee. Ask yourself “what would I want done if I was the Tenant”? Every tenant has a specific set of criteria for a location. While the criteria may vary from tenant to tenant the process of being a great Tenant Broker does not.

Top 10 steps to being a great Tenant Rep broker.

Steps to Hiring a Commercial Real Estate Broker; THE Checklist

This week’s installment of the Landlord and Tenant Tips we will cover the steps to cover when Hiring a Commercial Real Estate Broker.CRE Broker Candidates to Interview

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

Charleston Retail Occupancy and Rental Rates Near Record High

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KEY TAKEAWAYS

  • Retail activity was steady through the early months of 2014 which ended with a high occupancy rate of 92.9%.
  • Focus on Downtown Charleston results in record high occupancy rates.
  • Rental rates soar for King Street shop space.
  • Corner at Wescott Shopping Center in the Summerville submarket delivered.
  • Redevelopments underway on Upper King Street in Downtown Charleston.

CURRENT CONDITIONS

2014 is looking bright for the Charleston, South Carolina retail market despite a slight increase in the market vacancy rate to 7.14% at the end of the first quarter of 2014 from the year-end 2013 rate of 6.98%.  The increase is a result of several big box closings throughout the suburban submarkets.  The largest closure was K-Mart closing its doors at

Q4 2013 Colliers North American office report release

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In Q4 2013, employment in the primary office-using sectors in the U.S. surpassed the pre-recession peak set in July 2007. Canada’s private sector continues to drive job growth and office demand.

The North American office vacancy rate decreased by 12 basis points to 13.56% in Q4 2013. The U.S. vacancy rate dropped below 14% for the first time since Q3 2008. The North American vacancy rate will likely continue to drop at a modest rate due to more efficient usage of space by tenants.The Canadian vacancy rate will likely increase slightly but remain low, with some tenants vacating older Class A and B buildings for newly completed space.

70 of the 87 markets tracked by Colliers posted positive absorption in 2013. Dallas led by a wide margin, followed by Houston, Central New Jersey, Boston and Atlanta. Absorption in the main intellectual capital, education and energy (ICEE) markets totaled nearly 20 million square feet, compared with 11.4 mil. sq. ft. in the main finance, insurance and real estate (FIRE) markets, although many FIRE markets, including Midtown Manhattan, Chicago, Charlotte and Miami, posted significant positive absorption during the year.

Construction activity increased slightly in 2013, but speculative construction remains concentrated in the strongest markets and submarkets. Houston alone accounts for about 12% of construction under way in the 87 markets tracked by Colliers, followed by Toronto, Calgary, Downtown Manhattan, Washington, DC and Midtown South Manhattan.

Office transaction volume totaled nearly $107 billion in 2013, the highest annual total since 2007. Given the shortage of available assets and/or rich pricing in gateway markets, as well as the broadening economic recovery, investor demand is spreading to secondary and tertiary markets that were out of favor earlier in the cycle. Transaction volume is poised to increase further in 2014 given improving fundamentals and the large amount of capital targeting real estate, including foreign sources.

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