commercial real estate · Malls · Office Properties · Retail leases · Shopping Center · Uncategorized

Prior defaults

This past week, we worked on a 40 tenant open air center acquisition. Often times, a seller severely restricts the information provided to our clients, the buyers. Fortunately, this time, we had almost free access to the seller’s files. Many of the leases were leases that had been amended and extended 3,4,5 times since their… Continue reading Prior defaults

commercial real estate · Malls · Office Properties · Retail leases · Shopping Center · Uncategorized

Property managers and operations managers – Help me help you!

There is a really great class offered by ICSC fairly regularly, Finance and Accounting for Non-Financial Shopping Center Professionals. I have taught a part of this class since 1996. There is also another class, the Economics of the Deal/Lease. Both are for those in the industry that don’t have to regularly deal with numbers, and… Continue reading Property managers and operations managers – Help me help you!

commercial real estate · Malls · Office Properties · Retail leases · Shopping Center · Uncategorized

The trust required between landlords and tenants

I have been in the industry now since 1987. In 30+ years, we have worked with hundreds of great, honest landlords. And, one that wasn’t. Though it hurts to give up business, we did because of our own ethics. We were doing the year end reconciliations for the owner and, at one property, there were… Continue reading The trust required between landlords and tenants

commercial real estate · Malls · Retail leases · Shopping Center · Uncategorized

Why look at a municipality’s tax maps or GIS data?

Often in retail, tenants will be required to pay their share of taxes using the square footage of the tax parcel of which they are apart. In other cases, they will be required to pay based upon the leasable area of the shopping center excluding separately assessed premises. Sometimes, just looking at the tax map… Continue reading Why look at a municipality’s tax maps or GIS data?

commercial real estate · Malls · Office Properties · Retail leases · Shopping Center · Uncategorized

Two words that cannot exist in commercial real estate

This past week, I was in Minneapolis with about 175 other shopping center professionals for ICSC’s John T. Riordan School of Professional Development. If you have not been, it is a tremendous experience, with tracks for leasing, management, marketing, development and leadership, with electives for finance, at levels for both newer and more experienced professionals.… Continue reading Two words that cannot exist in commercial real estate

commercial real estate · Malls · Office Properties · Retail leases · Shopping Center · Uncategorized

A need for a holistic approach to leases

When coming up with a blog topic for the week, I typically reflect back on one issue that stood out for the week. My guess is that it almost appears as if each of the issues are stand alone. But, this is never the case. Within one lease, you can have hundreds of potential changes,… Continue reading A need for a holistic approach to leases