Insights

6 Things You Need to Know About the New Accounting Rules

by Carrie Holstead - ITRA Global / Carrie S. Holstead Real Estate Consultants, Inc.

Ready or not, the new lease accounting rules will soon take effect and will result in companies with significant leases appearing asset-rich but also heavily indebted. Here are six things you need to know.

California Supreme Court Case Challenges Ethics of Dual Agency

by Wayne Teig - ITRA Global / Minneapolis, St. Paul

In what could become a precedent-setting case, the California Supreme Court has now heard the oral arguments that will scrutinize the long standing practice of dual agency by real estate firms. The case, Horiike vs. Coldwell Banker Residential Brokerage Company began on September 7th.

Anderson Receives Top Leadership Award from ITRA Global 

by reprinted from CityBizList, May 2016

Debra Stracke Anderson, President of Sloan Street Advisors / ITRA Global, received the 2016 Ronald R. Pollina PhD Leadership Award conferred by ITRA Global, the largest commercial real estate organization devoted to representing corporate tenants and buyers around the world.

Money Talks – But You Need to Know the Language

by Danni Toshack, ITRA Global / ACORPP

Money talks, but sometimes it talks in its own language and you need to be an accountant to understand what’s actually being asked for when it’s time to fund a new lease. Your tenant representative can provide advice and help negotiate these types of tenant costs to a minimum. Here are the most common forms of funds that are requested in the property market.

The Last Minute "Gotcha" 

by Lynn Drake, ITRA Global / Compass Commercial
 

Your business is doing well, and you are happy with your current landlord. You may or may not notice that your lease is expiring in less than a year.

Don't Overpay The Operating & Tax Expense Invoice You Will Receive This Quarter

by Carrie Holstead, ITRA Global / Carrie S. Holstead Real Estate Consultants, Inc.
 

You will soon receive an invoice for operating and tax expense pass throughs which will increase your occupancy cost. Do you know the eight things to look for to assure you are not among the tenants overpaying?

How to Select the Best Commercial Tenant Agent

by Will Gary - ITRA MacLaurin Williams

Commercial Tenants and Buyers frequently complain that their supposed Real Estate Broker or Salesperson seems more motivated to close a lease or purchase and collect the commission check than in helping them to find the best building or space at the lowest price. 

How to Avoid 13 Dangerous Potholes When Becoming an Office Subtenant

by Will Gary - ITRA MacLaurin Williams

If you’re considering becoming an Office Subtenant, it’s critical to look deeper than the discounted rental rates and free office furniture. Watch out for thirteen (13) dangerous potholes that could cause a big wreck.

 

Look Before You Leap Into a Lease

by Lynn Drake, ITRA Global / Compass Commercial

Harvey MacKay, author of the seminal business book, “Swim with the Sharks without Being Eaten Alive” prequel to the reality show, Shark Tank) suggested that entrepreneurs focus their energies on drumming up business and managing staff.

Real Tenant Reps Do Not Double-End Deals and Why Tenants Win

by Will Gary, MBA, MIM, ITRA MacLaurin Williams

Commercial Tenants and Buyers sometimes grouse that their Real Estate Broker or Agent seems more interested in closing a lease or a purchase and collecting a commission check than in helping them to find the best space or building at the right price.

Your Landlord Wants to Relocate Your Offices?

by Lynn Drake, ITRA Global / Compass Commercial

So, your landlord has contacted you about relocating your office, out of the blue. What should you do? I’m not going to mince words here: pull out of the lease right away.

How Startups Disrupted the New York City Office Space Leasing Market

by Andrew Stein and Bert Rosenblatt - ITRA / Vicus Partners, LLC

In case you haven’t heard, there’s a tech revolution happening in New York. In the past two years, hundreds--if not thousands--of new tech companies have hatched in NYC. Many of them are growing rapidly and gobbling up office space—and they want that space to be cool.

Position Your Company For Today's Soft Real Estate Market

by Ross Selinger, ITRA Global / Selinger Enterprises, Inc.

"It's deja vu all over again"! After a year of positive economic news, the first quarter of 2012 remains a mixed bag of economic news.

Bells & Whistles - You Betcha!

by Lynn Drake, ITRA Global / Compass Commercial, LLC

Talk To Any Child And You Find They Have a Perfect Dream for the Basement Train Set or the Equipment Needed to Have Their WII System Rock Out.

Woman Owned and Strong

by Catie Dixon, Real Estate Bisnow

Being a woman owned company in CRE is rare, but it has its perks, according to Customized Real Estate Services CEO Connie Rankin.

Do Small Tenants Matter to Landlords?

by Bert Rosenblatt and Andrew Stein, ITRA / Vicus Partners, LLC

In a word, yes. Why? Because Small Tenants are the lifeblood of Manhattan’s commercial real estate market.

Do You Have an Edifice Complex?

by Lynn Drake, ITRA / Compass Commercial, LLC

New business people, infused with optimism, take delight in buying or leasing a business. They spend big dollars for awnings, neon signs and landscaping, not to mention signing a multiple-year lease. Some people invest their entire pension in a new enterprise with hope it will work.

What is an SNDA And Do I Need One?

by Bert Rosenblatt and Andrew Stein - ITRA / Vicus Partners, LLC

A Sudordination and Non-Disturbance Agreement -SNDA- commonly called a "non-disturb", is an agreement that your landlord asks its lender to provide. The agreement basically says that if the building goes bankrupt and the lender takes control of the building from the landlord, the lender will honor your lease.

How to Minimize Your Security Deposit

by Bert Rosenblatt and Andrew Stein, ITRA / Vicus Partners, LLC

We’re asked all the time: what is a “normal security deposit”? Unfortunately, the truth is… it depends. Let’s start with the basics: the security deposit is a reflection of and hedge against the landlord’s perceived financial risk.

Pass on the Pass Throughs

by Lynn Drake, ITRA / Compass Commercial, LLC

This tax season you want to evaluate the pass throughs or increases over a base year that your landlord charges you. More than likely you received a bill which shows the actual cost billed less any payments for these costs.

Real Estate Taxes and What They Mean to You as a Tenant

by Bert Rosenblatt and Andrew Stein - ITRA / Vicus Partners, LLC

Did you know that the single largest expense to a landlord in running a commercial office building in Manhattan (outside of debt service) is real estate taxes? And did you know that 48.10% of New York City's total tax revenue or 26.7% of its total 65.9 billion dollar budget is derived from real estate related taxes? Yes, that's billion with a B. And in case we haven't gotten your attention yet, did you know that in the last decade, real estate taxes have increased by 108%?

Do You Speak Lease?

by Lynn Drake, President, ITRA / Compass Commercial, LLC.

Some of us speak Greek, Spanish, French or Mandarin in addition to English. We think we can speak real estate, but you had better know someone who can speak fine print or your lease terms could get lost in translation.

Blend and Extend

by Bert Rosenblatt and Andrew Stein, ITRA / Vicus Partners, LLC

So you signed your office lease at the top of the market, you're paying a small fortune in rent, but your space is only worth a fraction of what you're paying. What can you do to lessen your financial burden? Blend and Extend...here's how it works:

Confused by the New Lease Accounting Standard? Here's What You Need to Know.

by Bert Rosenblatt and Andrew Stein, ITRA / Vicus Partners, LLC. Information Source: Robert Cook, bobcook1234.wordpress.com

On August 17th, 2010, The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued the "Exposure Draft on Leases." It's 66 pages long, and while we commend you if you're one of the few who read the entire thing, we're here to help break it down for you. We've taken much of our info from our friend Bob Cook, whose blog has a variety of posts on the new Lease Accounting Standards. Visit Bob's blog at http://bobcook1234.wordpress.com/ to read all about Lease Accounting. Now let's get down to business. Here's what you need to know.

Green Leases: What They Are and Why Landlords Resist Them

by Bert Rosenblatt and Andrew Stein, ITRA / Vicus Partners, LLC

When it comes to green or eco-friendly commercial real estate buildings, New York City is behind the eight ball. Very few buildings in the city are green and/or LEED certified, mostly due to the fact that most office buildings in the city are old, not new, and the cost of retrofitting an old building to make it green is extremely expensive. What are you to do if you're a tenant that believes in the importance of going green? Request a green lease.

Green Costs and LEED Certification: What Does it Mean For You?

by Bert Rosenblatt & Andrew Stein, ITRA / Vicus Partners, LLC

Green is most certainly the new black - and everyone who can afford to go green is doing so. Note: the key phrase in that sentence is "everyone who can afford to go green" - that's right, folks, going green can be pretty expensive, especially when it's commercial real estate that you're talking about. Below, we highlight some things you need to understand about green buildings -and what LEED certification means for you.

Good Guy Guarantees: What They Are And Why Landlords Want Them

by Bert Rosenblatt and Andrew Stein, ITRA / Vicus Partners, LLC

A Good Guy Guarantee is a limited personal guarantee that, once signed, legally enables your landlord to pierce the corporate veil and legally go after you personally only in the event that you stop paying rent and refuse to vacate the space.

When To Renew Your Lease

by Bert Rosenblatt and Andrew Stein, ITRA / Vicus Partners, LLC

Renewing your lease is a lot like telling a joke: it's all in the timing. You want time on your side at all times (no pun intended). Typically, if you're 10,000 square feet or smaller, you want to give yourself 9-18 months whether you're moving or renewing. That said, the sooner you start looking for a new space, or looking into renewing your lease, the better. Here's why.

A Tenant's Guide for a Successful Lease Renewal

by Mark Twentyman, ITRA / Kingsbridge Realty Advisors, LLC

As your lease expiry date approaches, you will need to decide if you want to remain in your current facility, or move to an alternative location. This article attempts to highlight some of the key issues for consideration in dealing with a lease renewal, so that you can achieve the best possible outcome for your business.

How to Take Advantage of the Best Commercial Real Estate Market for Tenants in the Last 20 Years

by Bert Rosenblatt and Andrew Stein, ITRA / Vicus Partners, LLC

There is a clear upside to today's economy. Commercial tenants should be able to secure lower rents and better leases than they have in years. Whether renewing a lease, seeking to renegotiate an existing lease, or moving into a new space with a new landlord, the environment is right to gain lower rents, better terms, more concessions, and reduce overhead significantly.