550 S. Andrews Avenue, Suite 400, Fort Lauderdale, FL 33301
- 21Jul
2016
Berger Commercial Realty Secures 76,000+ SF In Lease Extensions For Seagis Property Group, Prologis BTS Web
[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? BTS Web
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? BTS Web
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? BTS Web
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? BTS Web
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? BTS Web
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? BTS Web
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? BTS Web
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 BTS Web
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? BTS Web
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? BTS Web
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? BTS Web
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? BTS Web
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? BTS Web
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 BTS Web
[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? BTS Web
Property management services are negotiated between the landlord and Berger Commercial. It's typically a predetermined percentage of the rents collected at the property.
- 7Jun
2016
Robert Dabrowski answers: What is an environmental site assessment? BTS Web
Environment site assessment is a report that's for real estate holdings that identified an existing or potential contamination liabilities. This analysis is also called an ESA and it addresses the underlying condition of the land and the improvements of the property. There's also many different phases that can be done.
- 2Jun
2016
Berger Commercial Closes $27 Million Sale Of Lauderdale Marketplace BTS Web
Berger Commercial Realty President Lloyd Berger and Senior Vice President Joe Byrnes represented Austin Forman and William Murphy ofLauderdale Marketplace Investments, LLC in the $27 million sale of Lauderdale Marketplace to Meir Benzakenof Exclusive Management and Properties, Inc. (EMPI). The transaction closed on May 26. The 265,000-square-foot retail property sits on a 30-acre lot at…
- 2Jun
2016
Michael Withrow answers: “What is a gross lease?” BTS Web
A gross lease is as a tenant you're paying a single dollar amount. Usually, the landlord has already factored in the operating expenses into that. From a tenant perspective, it's good because you know what your rate is going to be every month of your lease. From a landlord perspective, it's a gamble…
- 31May
2016
Roxanne Collins answers “What is Base Rent?” BTS Web
Base rent is the minimum amount due each month that's stipulated in your lease document or any negotiation that you have directly with your landlord. There would be additional rent stipulated in your lease outside of the base rent.