A PwC Real Estate Investor Survey of 31 commercial real estate markets showed that average overall capitalization rates have decreased in 27 of them. The decrease has sparked interest in secondary locations, Class-B properties, and value-added Class-A plays, suggesting that both investors and...
Although the commercial real estate market is steadily improving, tenants still are negotiating aggressively for lease terms that they otherwise wouldn't have been able to get before the downturn. During that time, most national tenants—whether or not they were struggling—asked...
Q An employee of a tenant at the office building I own is suing me for negligence, claiming that my property manager's failure to repair a loose step caused the employee to fall down a stairway, injuring his back and neck. The manager had recently...
Some of your office building tenants that are only halfway through their lease terms may already be complaining that their space is looking shabby and the rent they'll be paying during the last few years of their leases will be higher than the outdated space will be worth at that point. For...
Q A medical clinic tenant in my strip mall renewed its lease only because I orally agreed that it could continue to sublet a portion of its space to a blood lab that serves the clinic's patients. Now, I have a lucrative offer from a franchised...
If you've signed a “governing document” with the owner of an adjoining shopping center or the tenant of a freestanding building at your center, you've agreed to be subject to certain restrictions. A governing document—which can be an operation and easement agreement (...
Bright forecasts for holiday season consumer spending are prompting some owners of retail properties in high-traffic Manhattan corridors, like Times Square, to raise tenants' rent. The latest biannual retail report from the Real Estate Board of New York (REBNY) indicates that many tourist-...
Although most leases give tenants the right to a rent abatement when their office or retail space becomes unusable after a fire, flood, or similar casualty, they fail to adequately define when the abatement period will end. Merely saying that the abatement period will continue until the space is...
If you must fill vacant space in your office building or shopping center while it's undergoing renovations, your new tenant might not have access to some of the amenities, equipment, or services that it expects to be able to use. Negotiate the lease to protect yourself from the tenant's...
You signed a lease with a tenant who agreed to use its space for a specific purpose. When you find out that the tenant sublet the space, and that the subtenant is using it for a completely different purpose than you and the tenant had agreed upon, you realize that your lease's use clause...
The U.S. office sector continues to rebound, according to a new report from commercial real estate services provider Cassidy Turley. And Washington, D.C., is leading the pack, having overtaken New York City for the highest office rents in the country in the third quarter of 2010.
Install security cameras not only to help you deter and catch criminals, but also to help you prove to a court whether or when a dangerous condition existed on your property. That's important because the length of time a dangerous condition has existed on your property where an accident...
