CRE Report for 01.22.2012

January 23, 2012 at 12:39 am | Posted in Market Reports, Radio Show Reports | Leave a comment
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Lease expiration tips for tenants.

Bob – Walt, if I was a commercial tenant in building and my lease is closing in on its expiration date, what are my options?  What should I be thinking about?

Walt – Bob, most tenants don’t anticipate the time it takes to either renew their existing lease of look at other possibilities in the marketplace.

The first option is to do nothing and try to stay in a month to month tenancy with no protection against the owner giving 30 days notice to vacate.  There might also be a “holdover charge” in the lease which the landlord can charge and that additional amount is usually 25% to 100% increase in the lease rate.

Bob – That’s a little scary, what about renegotiating for myself, it can’t’ be that hard, can it?

Walt – It’s like my father in law use to say you don’t know what you don’t know.  If you’re not in the market every day, a tenant might risk paying more than they should in this current market, they might also not be aware of current market incentives offered by landlords, there are some commitments in the fine print of the lease document that, in coordination with an attorney, need to be discovered and addressed to avoid clauses that could be harmful to the tenant in the lease, and most importantly it takes time away from the business to accomplish all this and it take the focus off the primary objective, your business.

Bob – Walt, I take it this is where you tell me how the Tenant Representation process works and how you can help tenants renew or relocate in this market.

Walt – Yes Bob, thanks for the softball. At Sperry Van Ness our brokers have handled thousands of leasing assignments we have the experience in getting the best possible results.  This is done at no costs to the tenant as the landlord pays the commission when the lease is executed.  We provide up to date relevant market information and guide our clients through the process from the initial meeting to move-in and beyond.  And finally the tenant representation process allows us to do what we do best which is the leasing component and allows the business owner do what they do best and that is to keep their focus on running the business.

Bob – How can people contact you today to talk about commercial real estate?

Walt – Thanks Bob, call me, Walt Arnold, on my direct line 505-256-1255 or check us out on the web at waltarnold.com.  Also if you have an issue regarding commercial that you need help with or want to talk to someone about give me a call and we can discuss it.  Talk to you next week, with my prediction for the Super Bowl, what else is there to talk about the next couple of weeks? Have a great week!  Also check out Sperry Van Ness on Facebook become a fan or follow me on Twitter for daily CRE news updates.

Albuquerque CRE Report for 01.09.12

January 9, 2012 at 10:35 am | Posted in Radio Show Reports | Leave a comment
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New Year strategies for commercial properties investors, owners, buyers and tenants

Bob – Happy New Year!  Our first commercial report of 2012, what do you have for us to start off the New Year!

Walt – Happy New Year Bob and I hope you had a great time over the Holidays and the New Year.

I know you’re not a big New Year Resolutions advocate, but I wanted to talk about some New Year strategies for commercial properties investors, owners, buyers and tenants of commercial properties.

Bob – New Years Resolutions are difficult to keep and it is difficult for people to keep them.  But I’ll listen, what ideas do you have?

Walt – I think this is a great time for those involved in commercial properties to make some strategies and take some action to move forward on financial goals, which may include real estate.

Some quotes I remember are, “every journey begins with a single step”, or “if you aim at nothing you are bound to hit it”.  A question to ask this time of year is, “what is my exit strategy for the properties I own”, or “what can I do today to start looking at investing in commercial real estate”?

Those answers might not even come this year, but it’s important to start thinking about them now and develop the steps to move forward in that direction.

Bob – I would think this is not a great time to sell properties, but it appears to be a better time to buy properties.  How far in advance do someone need to start thinking about buying, selling or leasing?

Walt – There are many aspects to consider, for example a business that owns it real estate might say, “I need to raise some cash, but my bank won’t lend me any money”, a sale-leaseback might be a way to raise some cash and put cash back in the business to fund operations.

An investor just starting out might have the question,” how do I start investing in this market with all this opportunity to buy properties?”

A company currently leasing might ask, “I want to buy instead of lease, what do I need to know to get started?”

All of these decisions take time and planning.

Bob – So you’re saying there are a lot of things to consider and it might happen quickly or it could take time to develop a plan to decide what to do and how to go about it?

Walt – These aren’t snap decisions like, I need to lose 20 pounds, which by the way I do, these decisions take time and it helps to have people that can help define the strategies and a game plan to work through the issues and come up with solutions to accomplish these goals.

Bob – Walt, how can people get a hold of you to discuss how to make a strategic plan for 2012 and beyond?

Walt – Thanks Bob, my direct line is 256-1255, website waltarnold.com.  Let’s talk about strategy for 2012 and beyond.  You can connect with me on Facebook or Twitter.

CRE Report 10.17.2011

October 31, 2011 at 10:13 am | Posted in Market Reports, Radio Show Reports, Videos | Leave a comment
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Lease Negotiations

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CRE Report for 09.17.2011

October 17, 2011 at 8:23 am | Posted in Radio Show Reports | Leave a comment
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Tenant Representation

Bob – Walt, I wanted to ask you a question, how should a Tenant deal with their lease as it approaches the expiration date.  In this market should they begin to have some discussions with their landlords prior to the lease expiring or just wait until the lease comes to an end and then try to negotiate?

Walt – Good morning Bob! Yes the lease is expiring soon, what are your options?  One thing to do is to do nothing.  When the lease expires it usually goes to a month to month agreement and that leaves the tenant with no protection, the landlord can give the tenant 30 days’ notice to move out.

Another thing that happens at the end of the lease is if a tenant stays past the expiration date, there might be “hold over” provision that could be 125% to 200% of the current lease and that is a big increase in monthly expenses especially in this environment.

Both of these scenarios allow the owners to dictate the terms, if they so choose.

Bob – Say I’m a tenant, and my lease is expiring, and I’m thinking I want to handle this lease negotiation thing by myself, what are some of those issues?

Walt – I know you’re a sharp guy, even though you did go to NMSU, there are some things you need to be aware of: you might risk overpaying your rent if you don’t  know everything that is happening in the market and also you need to be aware of market incentives are currently being offered.  There’s also the potential to make some harmful commitments within the lease document that might cause some financial issues and, it takes time to do  all this lease negotiation stuff and that is going to take you away from focusing on your business, which is the top priority.

Bob – Ok Walt, tell me what I need to do so I get the right space, at the right price and terms.

Walt – First I would say hire a Broker that understands the Tenant Representation process fully, for example, Sperry Van Ness.  We have handled thousands of real estate transactions and have the valuable experience to get the best results.  Tenant Rep services are usually at no charge to the tenant, the cost for leasing the space is paid by the Landlord, you can know that you are getting relevant, up to date information to make the best decision, we will explain the process so you know where you stand throughout the transaction, and you can then focus on your business, which is what you do best, and we can focus on all the details, which is what we do best.

Bob – All right, I feel better already, how can people get a hold of you today?

Walt –  Thanks Bob call Walt Arnold @ Sperry Van Ness my direct line is 256-1255, website waltarnold.com. I’m glad I could help you today, have a great week

Sperry Van Ness Services

July 5, 2011 at 11:02 am | Posted in Uncategorized, Videos | Leave a comment
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Tenant Representaion Services

If you have any interest in our Tenant Representation Services don’t hesitate to call me today  (505)256-1255.  You can also follow me on Twitter and Facebook for daily CRE news, info and tips.

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