What are the benefits of using a commercial real estate agent?
As a business owner, your primary focus is on your day-to-day operations and growing your business. Using a dedicated COMMERCIAL real estate firm such as ours gives you access to a professional who has an extensive understanding of the market, product and technical knowledge of commercial real estate transactions of all scopes and sizes. This allows you to focus on what you do best, grow your business.
Who is responsible for your commission?
99% of the time our fee is paid by the landlord or seller similar to residential real estate. In some instances where a property is found “off market” or a fee is not offered by the listing agent we will look to our client to be compensated but are committed to being transparent throughout the process.
What if I do not see the property I want on your website?
While we pride ourselves in having excellent listings, we have access to all top commercial multiple listing services to assist you in finding any property that may be on the market. We also have a database of cooperating brokers and property owners in our market which we can create an individualized mailing specific to your needs to search for off market properties.
What is the process of listing my property for sale?
Call our office at 508-541-1350. Initially we will ask a series of questions to get a better picture of your property. We will then schedule a time to walk your property to evaluate its specifications along with getting a better idea of your expectations. We will provide you with a proposal indicating: the listing price we feel the property should go to market at, a summary of the current market conditions and our marketing strategy.
What do all of the different types of leases mean?
NNN- A Net Lease or Triple Net Lease refers to a lease structure where the tenant pays a proportionate share of the operating expenses of the property based on the rentable square footage they occupy. This lease structure is typically seen on a listing sheet as “NNN” or “Net-Net-Net” Generally the three “Nets” are made up of real estate taxes, property insurance, and Common Area Maintenance charges (CAM).
Gross- Gross lease include all operating costs referred to above as triple nets. By definition, a gross lease should be inclusive of all expenses but in many cases a unit listed as gross may actually have utilities or janitorial services billed separately which would be a modified gross lease. Some gross leases use a base year which typically use the last full calendar year of expenses. In subsequent years, should the landlords expenses such as taxes, insurance, snowplowing, etc increase, the tenant would be responsible for their proportionate share of the increase.
Modified Gross- Typically seen in office buildings and discussed above, this is the appropriate term to describe a lease that includes all operating costs with specific exclusions outlines by the landlord. Typical exclusions are utilities.
Full Service (fs)- Synonymous with a gross lease, a true all inclusive lease that includes all operating costs and utilities.
Tenant electric (+te)- A modified gross lease that indicates that the tenant is responsible for their electricity usage.
+Utilities- A modified gross lease where tenant is responsible for all utilities.