550 S. Andrews Avenue, Suite 400, Fort Lauderdale, FL 33301
- 2Aug
2016
John Forman answers: How are lease rates quoted for commercial property? Berger Commercial Realty
Lease rates for commercial properties are generally quoted on an annual per square foot basis. If you'd like to find the monthly rent for that, you take the annual per square foot rate, times it by the total square footage for the space that you're going to be leasing, and then you divide…
- 28Jul
2016
Allapattah auto repair site, slated for a boutique, sells for $1.4M Berger Commercial Realty
[vc_row][vc_column][vc_column_text] The new owner of a former auto repair facility in Allapattah plans to repurpose the property into an Indian clothing boutique. The Two J’s sold the auto repair property at 2050, 2036 and 2030 Northwest 23rd Street to Vinamrata Mehta, according to a press release. The three buildings were built in 1956 and total 14,771 square…
- 28Jul
2016
Tim Hackett answers: What is percentage rent in a retail lease? Berger Commercial Realty
A percentage rent is negotiated at the time of the lease. What it does is the tenant reports their sales every month to the landlord, once a certain base amount is reached, then the landlord then gets a percentage of the rest of the sales over and above that base amount. It actually…
- 26Jul
2016
Judy Dolan answers: Why should I check the zoning on a property before signing a lease? Berger Commercial Realty
You should check the zoning on a property before signing a lease or before buying a building to make sure that your use is permissible in that zoning. In order to check the zoning you can contact either the city or county building department or zoning department and they should be able to…
- 21Jul
2016
Berger Commercial Realty Secures 76,000+ SF In Lease Extensions For Seagis Property Group, Prologis Berger Commercial Realty
[vc_row][vc_column][vc_column_text] Berger Commercial Realty brokers recently represented Seagis Property Group and Prologis in securing four lease extensions totaling 76,070 square feet of space in Broward County. Fort Lauderdale Commerce Center Senior Vice President Keith Graves represented Seagis in extending a lease for 58,820 square feet of flex space to GA Telesis Composite Repair Group, LLC…
- 21Jul
2016
Michael Withrow answers: What is pre-paid rent? Berger Commercial Realty
There are a couple of different types of prepaid rent. Typically when we have a new tenant we'll ask for first and last month's rent. That last month's rent is a prepaid rent, in essence. In addition, on a month-to-month basis, if somebody pays their rent prior to the first of a month,…
- 19Jul
2016
Joseph Byrnes answers: Should a purchaser and seller of commercial property use a letter of intent? Berger Commercial Realty
I think a letter of intent is a very good idea to use. It sets forth a road map for when you get ahead to putting together a contract, purchase and sale agreement, and so I would say that's a great idea.
- 14Jul
2016
Gina Yehuda answers: What type of inspections should be completed during a due diligence period when buying a commercial property? Berger Commercial Realty
During the due diligence and inspection period, I would highly recommend performing a property condition report, environmental assessment, physical inspections, investigating the zoning and allowable uses of the property, land and improvement surveys, analyze lease documents and perhaps various physical inspections such as roof, mechanical, electrical and plumbing inspections.
- 12Jul
2016
Deanna Dombrowski answers: What is a hold over tenant in a commercial lease? Berger Commercial Realty
A holdover tenant is a tenant that continues to occupy the space after the lease has expired. They can continue to stay as long as they're making their rent payments; however, they might want to check their lease because in most cases the landlord has the right to charge double the rent for…
- 7Jul
2016
Tim Hackett answers: Does a property manager make recommendations as to what repairs or improvements I need for my commercial property? Berger Commercial Realty
A property manager's job would be to oversee the property which would include any services, repairs, any deferred maintenance that needs to be done.
- 5Jul
2016
Greg Milopoulos answers: When or is there an opportune time to do exterior and or interior improvements to the common areas of my property? Berger Commercial Realty
It's advantageous for a landlord to do such improvements when they're trying to increase their rent roll and their tenant class. Improvements to the common areas such as updating the lighting create a more vibrant feel, improving the lavatories can accomplish those tasks. We have countless examples of landlords who have done such…
- 30Jun
2016
Michael Withrow answers: What is a triple net lease? Berger Commercial Realty
The triple net lease is, in addition to base rent the tenant will pay the three nets. It's the maintenance, real estate tax, and insurance. They'll pay their portion of that. At the end of the year, once there'll be a true-up calculation over what you paid on a monthly basis, because it's…
- 28Jun
2016
Berger Commercial Realty Brings 108,000-Square-Foot East Port Center To Full Occupancy Berger Commercial Realty
Berger Commercial Realty Senior Vice Presidents Judy Dolan and St. George Guardabassi recently representedEast Port Center Joint Venture in leasing 7,050 square-feet of space to Cayoga America, Inc. at East Port Center. With this transaction,East Port Center has reached 100 percent occupancy. Located at 1881 – 1887…
- 28Jun
2016
Michael Feuerman answers: What is a full service lease? Berger Commercial Realty
What we typically refer to as a full service lease is a lease where the rate includes all of your costs. It includes your base rent, your operating expenses, your electric, your janitorial. It typically does not include sales tax in a state like Florida that has sales tax, and it does not…
- 23Jun
2016
Joe Ragonese answers: What does it mean when a building is LEED certified? Berger Commercial Realty
A LEED certified building has either been developed or undergone significant improvements utilizing green features which allow for the design, construction, operations and maintenance of health cost effective buildings. Lead certified buildings save money and resources and have a positive impact on the health of occupants while promoting renewable clean energy.
- 21Jun
2016
St. George Guardabassi answers: Can you provide an estimate of what my commercial building is worth today? Berger Commercial Realty
Berger Commercial is able to provide an estimate of the value of your property. It's because we're in the market every day, we're negotiating with landlords for buyers and the sellers of properties, and we know what the market value of a property is. We also use an analytical approach, we look at…
- 16Jun
2016
Gina Yehuda answers: What is flex space? Berger Commercial Realty
Select space is a term commonly used to describe industrial space. It's comprised of unconditioned warehouse space, and an office or showroom that is typically more than 10% of the entire space.
- 14Jun
2016
Steve Hyatt answers: Now that I hired a broker, what should I expect from him or her? Berger Commercial Realty
I would say the first thing to look for is to have an open and honest assessment of the owner's property. You go in, you tell them what you think it's worth, what you think are the positives and negatives, and how best to position the property in the marketplace. After that, then…
- 14Jun
2016
Berger Commercial Realty Leases Nearly 25,000 Square Feet At Enterprise Commerce Center Berger Commercial Realty
[vc_row][vc_column][vc_column_text] Berger Commercial Realty brokers John Forman and Keith Graves recently represented Mancini & Sons Florida #2, LLC in leasing 24,971 square-feet of space to tenants in two buildings at the Enterprise Commerce Center in Deerfield Beach. At 1901 Green Road, the brokers leased 9,820 square feet of industrial space to Magellan Aircraft Services, LLLP in bay F…
- 9Jun
2016
Tim Hackett answers: How does Berger Commercial Realty charge for property management services? Berger Commercial Realty
Property management services are negotiated between the landlord and Berger Commercial. It's typically a predetermined percentage of the rents collected at the property.