Tag: lease language

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Administering CAM, Tax and Insurance – How viewing an aerial without preconceived notions can improve your reimbursement ratios

Jack NugentLeave a comment

Before we start any type of due diligence or property lease audit, before we get into any documents or financials, we spend time reviewing various resources. My personal “go-to” are aerials, lease/site plans, the GIS and tax data and Google street views for a walk around. Now that I have put that on paper, I… Continue reading Administering CAM, Tax and Insurance – How viewing an aerial without preconceived notions can improve your reimbursement ratios

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One parcel – multiple assessments? Understanding component assessments can mean $510k in value on this example property.

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In commercial leases, especially retail leases, it is common to see that tenants can, or should, be billed based upon the square footage of the property excluding portions of the property that are separately assessed. Sounds pretty simple and straightforward, doesn’t it? But in that one sentence, there can be dozens of variations on the… Continue reading One parcel – multiple assessments? Understanding component assessments can mean $510k in value on this example property.

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

CAM, tax and insurance reconciliations during due diligence

Jack NugentLeave a comment

More often than not, when acquiring a property or portfolio, prospective purchasers are focused on future cash flows. When it comes to CAM, taxes and insurance, it is future reconciliations that will have the most impact on the buyer’s cash flow. However, when acquiring a property, it is critical to get as many years of… Continue reading CAM, tax and insurance reconciliations during due diligence

Malls · Retail leases · Shopping Center · Uncategorized

Squeeze another 353 sf out of that space!

Jack NugentLeave a comment

This past week, we had a call with a long term client to review the results of a lease audit. Typically, it is the accounting people, perhaps some accounts receivable people and occasionally asset management. We review additional historical billings and expected increases to cash flow. But, this week was a little different, it was… Continue reading Squeeze another 353 sf out of that space!

Malls · Retail leases · Shopping Center · Uncategorized

Are your tenants still contributing to marketing?

Jack NugentLeave a comment

I got in to the industry in 1987. At that time, there were still plenty of 10-30 year old leases still in effect. So many of those leases had requirements for tenants to participate in a merchants’ association (usually at some initial nominal rate with CPI increases). The tenants would control how those funds were… Continue reading Are your tenants still contributing to marketing?

Malls · Office Properties · Retail leases · Shopping Center · Uncategorized

“That’s standard” is not a good enough answer.

Jack NugentLeave a comment

Two or three weeks ago, we were working on a portfolio acquisition. There was an outparcel ground lease tenant that had the right to purchase its premises if the landlord ever sold the property. Our client asked the seller for the tenant’s release from its option to purchase the parcel. The seller replied that it… Continue reading “That’s standard” is not a good enough answer.

Malls · Retail leases · Shopping Center · Uncategorized

Why you should be at least slightly conversational in accounting, finance and lease administration

Jack NugentLeave a comment

“Ambitious men do not ask questions for fear their infallibility will be challenged” – Washington (or John) Roebling My apologies to David McCullough who wrote The Great Bridge about the building of the Brooklyn Bridge for not even knowing whether it was Washington or John Roebling who gave us that awesome quote above. But, whether… Continue reading Why you should be at least slightly conversational in accounting, finance and lease administration