VIDEO: Tips to Renegotiate Your Commercial Lease & Potentially Save $$$
Earlier this week, we published an article on Tenant Renegotiation. If you'd like to read it, please visit here:
Here's the video version! Enjoy!
Your commercial lease is about to expire and you are looking at options. One of them is staying in the same space. How do you renegotiate your lease? CEO George Pino discusses some tips that will potentially save you money.
Since online retail is growing, and there are not enough industrial buildings, people are forced to find new ways of storing items. Although the demand for big-box industrial space still exists in the urban fringe, the last mile warehouse is about getting all you need close to the customers. After all, you can refill it with trucks from your regional distribution center whenever you need it. Look for spaces in the thousands of feet in buildings that have similarly sized floor plates.
There is one topic that's been impossible to ignore for chain restaurant executives in recent months - ghost kitchens, cloud kitchens, or virtual kitchens. It’s yet to be seen how significant these kitchens will become, but there are some indications that the trend is only going to grow.
The mere word “ghost” often causes fear within many people. However, some restaurateurs are starting to embrace this word as a part of their daily activities, creating a new business model with virtual-style restaurants that offer direct delivery. Ghost kitchens take the idea of traditional restaurants and eliminate the role of bartenders, servers, and all other staff, operating with only chefs, dishwashers, managers, line and prep cooks, and delivery drivers. Hence, the term “ghost kitchen” (in simple terms, also known as a delivery-only restaurant).
Together with almost every other sector of the economy, commercial property has been disrupted by Coronavirus and social distancing. For many years, the main declining CRE sector has been retail. However, this sector is no longer suffering alone, since the pandemic is hurting most other CRE sectors: hospitality, office, multi-family, personal services, restaurant, entertainment, and construction.
LEED (Leadership in Energy and Environmental Design) is a green building certification system that is internationally recognized and provides third-party verification that a community or a building was built and designed using strategies for improving performance across all the most important metrics: energy savings, CO2 emissions reduction, improved indoor environmental quality, water efficiency, and stewardship of resources. It can be applied to all building types – both commercial and residential.
Every owner expects their property to sell or lease quickly, especially in a fast-moving real estate market. But what should you do if the offers don’t start coming in as quickly as you expected - or at all?
Since online retail is growing, and there are not enough industrial buildings, people are forced to find new ways of storing items. Although the demand for big-box industrial space still exists in the urban fringe, the last mile warehouse is about getting all you need close to the customers. After all, you can refill it with trucks from your regional distribution center whenever you need it. Look for spaces in the thousands of feet in buildings that have similarly sized floor plates.