Making a real estate decision can be an exciting time, especially in today’s market. For Buyers/Tenants, there are opportunities that a new facility provides, such as a better location, improved amenities, or utilizing a more efficient layout. Selling or renting an owned property can dramatically improve your cash flow situation. In today’s market there are other factors that must also be taken into consideration when deciding on renting, buying, or selling. Let’s briefly look at three (3) considerations when evaluating your decision.
In most situations, renewing a lease should be relatively easy for a tenant who is in good standing with the landlord’s lease terms and is comfortable with his own financial position. But in this market, “easy” is a relative term. For example, if you are willing to pay market rents and to accept the landlord’s terms, it will be “easy” to sign the renewal letter. However, if you are seeking some concessions in the rent or terms of the lease, “easy” will not be the first word that comes to mind. The landlord may dig in his heels and the tenant may feel that all the goodwill he built up as a quality tenant has not translated into any benefit. This might be similar to negotiating with your cell phone provider after being a “valued customer” for twenty years: you discover that they treat you about the same as a “new customer”…or worse!
If you are faced with this situation..........
Are you busy getting to the next project, going to the next place, making the next deal, getting the answer you were waiting for, driving to and from activities, and on and on? How can we appropriately weave in “waiting” for anything? Well, just wait and we will tell you… But seriously, when you are involved in industrial real estate transactions, there is a time for action and a time for waiting, and knowing which is which can make all the difference.
In today’s blog we will go over a few common scenarios and explore where waiting comes into play.
Christopher J. Destino of Lee & Associates Commercial Real Estate Services is pleased to announce the completion of this 2018 Brand New Construction concrete tilt up industrial building in the city of Santa Fe Springs, CA. Christopher represented the Buyer in the sale transaction valued at nearly $3,000,000.
The Buyer, a local family owned and operated business specializing in industrial electrical equipment, had determined long before the building was ever built that this was going to be their new home. We helped them navigate the negotiations, escrow and closing.
Click here for more about the sale transaction!
In today’s market with about a 1% vacancy rate and high demand, landlords (and sellers) of industrial warehouse space find themselves in a very desirable position. How do those conditions play out in negotiations? How can a potential tenant or buyer understand these dynamics best to help win them the deal?
Landlords and sellers are looking for three things:
(a) Best price & terms,
(b) Most convenient & timely transaction, and
(c) Confidence in the tenant’s or buyer’s ability to perform.
Therefore, tenants and buyers must be prepared to demonstrate their strength in the following areas:
Christopher Destino of Lee & Associates represented the Seller of this hard to find Cerritos Industrial building. This is a rare free standing building with a huge yard and dock high loading. after going through over 10 offers, the Seller selected a qualified buyer and closed the transaction. Subsequently, Christopher assisted the tenant in securing a new location in the city of Santa Fe Springs.
For more information on the sale, please click this link to the press release.
Jacob Samuel Destino was born this month, and joined brother Levi (born 2016) and mom to further fill our home. We are grateful and thankful that both mommy and baby are health and happy.
In today’s rapidly paced real estate environment, it is vital for market participants to have the right expectations so that they can save time, money and needless frustration. Whether buying, selling or leasing, it is important to understand the key areas of price, timing, availability related to any transaction.
So how do principals looking to make a real estate transaction avoid these frustrating pitfalls and make deals come together? There are several things you can do....
If you have been presented with the proposal for an “Off-Market” transaction, as defined as a transaction that is not presently listed on the multiple listing service(s), you, as either Buyer or Seller, must weigh the pluses and minuses of such a transaction. In this article you will find insights to help carefully consider this.
"Can negotiating an Off-Market deal benefit the owner, the buyer, the agent, or all parties equally? "
Christopher J. Destino, a Principal at Lee & Associates, is an engaging, responsive professional who enjoys working closely with his clients and helping them succeed.