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.

7Jun
2016

Robert Dabrowski answers: What is an environmental site assessment? Berger Commercial Realty

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 Berger Commercial Realty

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?” Berger Commercial Realty

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?” Berger Commercial Realty

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.

26May
2016

Joe Ragon answers “Are utility costs included in the rent? How are they calculated?” Berger Commercial Realty

In the absolute gross lease, utility costs are included in the rent. In the absolute net lease, utility costs are not included in the rent. The modified gross or net lease falls somewhere in between because the landlord can pass through utility costs as part of the [cam 00:00:19]. Always review your lease…

24May
2016

Mike Feuerman answers: “If I am a Tenant, why do I need a commercial real estate broker?” Berger Commercial Realty

20May
2016

Tim Hackett answers the question: What services does a commercial property manager provide? Berger Commercial Realty

A commercial property manager provides a multitude of services, everything from providing a budget for the property, to maintaining a property, to being the liaison between the tenants and the landlord, also overseeing the maintenance and services provided to a property

17May
2016

Jonathan Thiel answers: What is a letter of intent? Berger Commercial Realty

The purpose of a letter of intent is to outline the basic terms of the transaction before the parties enter into a formal agreement. Letter of intents, for the most part, are nonbinding agreements and can be used for sales and lease transactions.

13May
2016

What does “as-is”, “where-is” mean? Berger Commercial Realty

https://www.youtube.com/watch?v=qa3l4neQfWs "As is where is" is the same as "as is." What you see and what you don't see is what you get. In other words, you're getting the property or space as it is today the day you sign the deal. In this day and age you can be an informed consumer and…