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Newsletter June 2018
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Commercial Real Estate Insights: Summer 18
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COMMERCIAL LEASE RENEWAL OPTION
As real estate brokers representing retail tenants, we negotiate with the landlord to have lease renewal options also called “extension terms” included in the primary lease. Renewal options are mostly to the benefit of the tenant and not the landlord. A renewal option in the lease is up to the tenant to exercise and there are often very specific dates the tenant must follow to notify the landlord their desire to renew the lease or the option will be null and void.
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CALCULATE RENT NNN LEASES
Most retail leases are triple net leases in which the landlord is charging base rent but also passing along “Additional Rents.” Commercial tenants looking for retail space should know the total rent is the base rent plus the triple net (NNN) charges. The NNN’s include the tenant’s pro rata share of common area maintenance charges, building insurance, and taxes. Adding the pass through charges and the base rent equals the total rent owed.
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RETAILERS AMAZON-PROOF BUSINESS
Just a few years ago, retailers could just be an aggregator of brands and make money. The continued rapid rise of Amazon is forcing all retailers to rethink how they will make money in the ever increasingly online world we all live in. It’s too late for some retailers who loaded up on cheap debt when business started to skid
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COMMERCIAL REAL ESTATE DATABASES
To manage our real estate ecosystem we use several specific databases including Salesforce, Costar, STDB, RealNex and Loopnet. We use Salesforce to manage our client relationships such as prospects, tenants, landlords, and vendors. Collecting and organizing actionable customer data is a full-time job, and one that isn’t very forgiving of mistakes.
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We lease and sell retail space for owners, find new retail space for tenants, and manage property related to retail. We know urban commercial real estate leasing, sales, and property management.
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Capital Retail Group. All Rights Reserved.
7315 Wisconsin Avenue, Suite 400 Bethesda MD 20814.
Phone: (202) 319-2884
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Disclaimer: All information furnished regarding property for sale, lease or financing is from sources deemed reliable. No representation is made as to the accuracy thereof and all such information provided is subject to errors, omissions, or changes in conditions, prior sale, lease, or withdrawal without notice. All information should be verified by recipient for accuracy.
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