In this Berger Bite, Sales associate Jake Michels answers, “Why should I hire a professional property manager?”
“A Berger Bite” is a series of FAQ videos in which Berger Commercial experts answer your pressing questions with a quick bite of information! For all your commercial realty needs, go to www.bergercommercial.com or call 954-358-0900.
We’re officially moving! Take a look at our new work-in-progress space as the employees of Berger Commercial take a journey across Fort Lauderdale to the perfect new building…
Three (3) state-of-the-art facilities totaling 677,314 SF
32′ clear height•ESFR suppression system
2 minutes from I-95 and the Florida Turnpike
Strategically located in immediate proximity and access to 595, I-95, I-75, State Road 84, 441/ State Road 7, Florida Turnpike, Ft. Lauderdale – Hollywood InternationalAirport (FLL) and Port Everglades
10 minutes to Fort Lauderdale – Hollywood International Airport, Port Everglades and 30 minutes to Port of Miami and Miami International Airport
Leased by Berger Commercial Realty Corp. 954-358-0900
Hosted by Abby Melone of Capital Analytics (https://www.capitalanalyticsassociate…) – Commercial real estate is in a precarious position due to the COVID-19 pandemic as there is pressure for rent forgiveness from commercial retail clients and pressure from the banks on landlords of these commercial properties. Michael Feuerman, Managing Director of Berger Commercial, spoke on how his company is dealing with these pressures while also looking towards what the future of commercial real estate may look like post-COVID-19. He identified that the future will see more available commercial real estate space, less people crammed into a space and an increased emphasis on incorporation of things like ‘no touch’ technologies into these spaces.
The 550 building is expected to be delivered by 2nd quarter 2019. It features seven-story class A office space encompassing 95,532 Sq.Ft. Office suites range from 1,500 SF to full floors (13,136 sf floor plates). The property also features an on site 634 car parking garage with the highest available parking ratio available in Downtown Fort Lauderdale. Ground floor patio restaurant and retail opportunities are also available. Located adjacent to the new 700,000 SF Broward County Courthouse CBD location, yet away from congestion, providing ease of access to major transportation routes.
Contact Berger Commercial Realty for leasing opportunities- 954.358.0900
High end flex industrial park with high visibility located at the Northeast quadrant of I-95 & State Road 84. This site has direct frontage on State Road 84 and is only 5 minutes away from downtown Fort Lauderdale. This state-of-the-art flex/warehouse/showroom complex offers high ceilings, all glass storefront type facades, and dock & Street level loading. Strategically located on State Road 84 (Marina Mile Road) and I-95 in Fort Lauderdale. The park is located on the north side of the street and is less than 1/2 mile off I-95. This site has easy access to I-595, Florida Turnpike, State Road 7, Federal Highway, and is located within 2 miles of the Fort Lauderdale International Airport & Port Everglades.
For lease- Three (3) state-of-the-art facilities totaling 677,314 SF
32′ clear height•ESFR suppression system
2 minutes from I-95 and the Florida Turnpike
Strategically located in immediate proximity and access to 595, I-95, I-75, State Road 84, 441/ State Road 7, Florida Turnpike, Ft. Lauderdale – Hollywood InternationalAirport (FLL) and Port Everglades
10 minutes to Fort Lauderdale – Hollywood International Airport, Port Everglades and 30 minutes to Port of Miami and Miami International Airport
Leased by Berger Commercial Realty Corp. 954-358-0900
As a landlord, the reason that you want to give free rent in lieu of a lower base rent, there’s a couple of reasons. First of all, you want to be able to offer free rent as an incentive to lure the tenant in but keep that face rent high, because that’s what your increases in future years are based on, and that’s also, when you go to either refinance or sell the building, that’s what the buyer or bank will look at is: What is the face rate? It helps keep your building up versus starting out with a lower base rent, have the increases on a smaller base over time. So you want to keep that face rate as high as possible.
Now, if you give free rent, what you want to also do is try to have the tenant pay the CAM or the operating expenses so the only out-of-pocket that you really have would be the net rent for that period of time if you have at least some cover of cost for your fixed costs.