Tag: strip center

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Administering CAM, Tax and Insurance – How viewing a site plan or lease plan without preconceived notions can improve your reimbursement ratios

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As a landlord, we talk about triple net all of the time. Often, our goal is to have our net cash flow be as close as possible to total minimum rent as possible. In order to do that, we want to get as close to 100% recoveries on reimbursable expenses – CAM, tax and insurance… Continue reading Administering CAM, Tax and Insurance – How viewing a site plan or lease plan 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.

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

An approach to lease administration and due diligence

Jack Nugent2 Comments

When we are verifying rents at a property, we do all of our calculations – prorata shares, caps, breakpoints, CPI calculations, lease year language applications and so on – prior to looking at what the current landlord has done. I don’t know about you, but I can be fairly easily led by what someone else… Continue reading An approach to lease administration and due diligence

Malls · Retail leases · Shopping Center · Uncategorized

A few more issues related to excluded area contributions

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Last week we addressed a few of the issues to consider related to excluded area contributions, but two properties that we worked on this week made me realize I missed discussing two very significant issues – refunds/credits and recaptures as they relate to excluded area tenants. At one of the properties, an excluded area tenant… Continue reading A few more issues related to excluded area contributions

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

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

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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 · Retail leases · Shopping Center · Uncategorized

building vs. Building

Jack NugentLeave a comment

No. It’s not a fight in the ring between two skyscrapers. It’s one of those capitalized/non-capitalized issues that can have a material impact on the cash flow of a property. Though many tenants may beg to differ, the majority of landlords do actually consider the financial health of their tenants. I cannot tell you the… Continue reading building vs. Building

Malls · Retail leases · Shopping Center · Uncategorized

“Absolute” minimum denominators – Yeah! Right!

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Last week, we covered minimum occupancies as a percentage of GLA for denominator purposes. But, sometimes we see another type of minimum – absolute minimum denominators. That is where you might see language to the effect of “The tenant will pay its share of common area maintenance expenses based upon the leased area of the… Continue reading “Absolute” minimum denominators – Yeah! Right!