Those who cannot remember the past are condemned to repeat it.
~George Santayana (1863-1952)
Whether you’re looking to start your business in a commercial location or you’re finally moving a home-based business out of your garage, acommercial real estate agent can be your best friend — or a source of endless frustration. To start the relationship off on the right foot, it’s a good idea to learn a little of the language commercial real estate agents speak. Here are some of the commercial real estate terms you may come across:
- Gross lease: A property lease whereby the landlord pays for all property costs usually included in ownership. These include costs such as utilities, taxes, and maintenance.
- Triple net lease (also known as an NNN lease): A property lease whereby the lessee (you) pays a fixed rental charge and expenses on the property, including maintenance.
- Tenant improvements: These are improvements done on the interior of a space, which can be paid for by the landlord and/or the tenant, depending on the lease.
- Usable area: The part of an office or a building floor that can be occupied, permanent wall to permanent wall.
- Rentable area: The usable area within the office, including shared areas of the floor and building such as lobbies, corridors, closets, and restrooms.
- Common area maintenance (CAM): This is the additional rent charged to the tenant to maintain the common areas of the property. These are the areas that are available for use by more than one person and are usually owned by all the tenants.
- Percentage lease: A lease in which the costs are based on the percentage of the sales volume made at the property.
- Letter of intent: An informal agreement between landlord andlessee indicating their intent to move forward with negotiations.
- Latent defect: A fault in the property that could not have been revealed through reasonable inspection before the agreement.
- Work letter: An agreement between a landlord and a tenantregarding all the issues related to the build-out (construction) of the interior of a space.
Want to learn more about commercial real estate and your small business? Check out these articles: Real Estate Considerations When Buying a Business and How to Select a Realtor or Real Estate Broker.
A little about me and my expertise – video
commercial / investment real estate / Arizona land specialist
https://www.youtube.com/watch?v=PPs3kpKR4nY
I go to great heights to sell or purchase your land
http://walter-unger.com/?p=10118
http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history
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Facts of Arizona – year 1848 to 2013
http://walter-unger.com/?p=9507
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Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Investment Properties in Phoenix.
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 20 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
we are at on the a rise of the cycle in Commercial Real Estate. so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207 or Office:480-948-5554
Thank You
Walter
Walter Unger CCIM
Associate Broker, West USA Commercial Real Estate Advisers
7077 E. Marilyn Road, Bldg 4, Suite 130
Scottsdale, AZ 85254
Cell: 520-975-5207
Office : 480-948-5554
Fax: (480-658-1172
View my listings and my profile at:
http://www.loopnet.com/Profile/14101172900/Walter-Unger-CCIM/
a little about me and my expertise – video
commercial-investment real estate adviser-land specialist
https://www.youtube.com/watch?v=PPs3kpKR4nY
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