Landlord Representation
My job is to spend as much time with the landlord, as is required, to obtain a true value of the property in question.
For example, if the seller has a shopping center, we would take a look at each and every lease and determine if this is a worthwhile lease with rents increasing in a timely manner. Are the tenants paying on time? Does the tenant add to the energy of the shopping center, in other words, do they bring traffic to the center? Is the tenant recognized nationally or is it a local business? How many stores do they have in the general area?
The basis for the above, also relates to office and warehouse investments, as well..
Land is a different story…. one must visualize what the highest and best use applies to the space…is it on the path of growth, what is the hold time, etc? Many years ago, I showed an investment group some desert land that was west of the freeway. I said that the hold period would be 5+ years of so… In this case, there were very few roads to get to the west side of the freeway where I felt that growth was going to continue, which was along the path of this land, well, the area added a substantial food and drug shopping center, apartments and office buildings, etc……The prices were a lot less than today, but my group bought the land for $75,000 and sold it for $500,000.
Once the value is established, it is time to put into writing an inviting story and then, I strongly believe in MAXIMUM EXPOSURE…..let’s beat on the drums and get the word out to as many commercial agents, as is possible, along with going to the ultimate buyers.
Once an offer comes in, I along with the seller will review the offer. I cannot give legal advice, but from my experience I will go over the entire contract in detail and make suggestion for the seller to than review with his or her attorney.. Hopefully, I will be able to save my seller some of the legal fees and give protection to the seller.
Please contact me to discuss how I can help you. (623) 606-7007