550 S. Andrews Avenue, Suite 400, Fort Lauderdale, FL 33301
- 26May
2016
Joe Ragon answers “Are utility costs included in the rent? How are they calculated?” BTS Web
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…
- 20May
2016
Tim Hackett answers the question: What services does a commercial property manager provide? BTS Web
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? BTS Web
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? BTS Web
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…
- 5May
2016
Michael Withrow answers the question: What reports should I expect from a property manager? BTS Web
First thing you'll see when you get a package from Berger Commercial Realty is a narrative of the property. What that will do is it will tell you what's happening at the property. The financial data that you'll also receive will tell you how your property is performing, but the nuts and bolts are…
- 4May
2016
Edward Berkheimer Joins Berger Commercial Realty as Vice President of Property Management BTS Web
FORT LAUDERDALE, Fla.– Berger Commercial Realty, a full service commercial real estate firm based in South Florida, recently hired Edward Berkheimer as vice president of property management. With more than 35 years of experience, Berkheimer joins the firm from KTR Capital Partners / KTR Management Services, LLC, where he served as vice president of…
- 3May
2016
Gina Yehuda answers the question: What is a “vanilla box” in a retail center? BTS Web
Vanilla box is a term used to describe a space with a cement floor, ready-to-paint walls, working electrical outlets, lighting, plumbing, finished ceiling, heating, and air conditioning. What it doesn't include is internal partitions.
- 29Apr
2016
Berger Commercial Realty Closes Sale of Land Parcel Located 100 Yards North of Broward Health Medical Center for More Than $600,000 BTS Web
The property is slated for redevelopment into a 5,000-square-foot office building FORT LAUDERDALE, Fla. - Senior Vice President Steve Hyatt of Berger Commercial Realty recently represented Martha Hutchinson in the $682,813 sale of a 14,375-square-foot land parcel with commercial and residential zoning. The property was purchased by 1311 S.E. 3, LLC. Located at 1311…
- 27Apr
2016
Joseph Byrnes answers the question: If I am buying commercial real estate property, do I need an environmental site assessment? BTS Web
Whereas environmental site assessment is not requirement of a purchase of commercial real estate, it's a great idea to have one. Also if you get a loan for that, your bank is going to require you to have an environmental site assessment.
- 19Apr
2016
Judy Dolan answers the question: What is a parking ratio? BTS Web
A parking ratio is the number of parking spaces allocated towards the amount of square footage leased, or the amount in the building. The parking ratio is usually stated in the number of spaces per the square feet, for instance, if you have a 4 per 1,000 parking ratio, that means there are…
- 13Apr
2016
Michael Withrow answers the question: What is a 1031 Exchange and how does it work? BTS Web
1031 exchange is not a tax avoidance, but rather a tax deferment. For example, if you have a property that you sell for $200,000 rather than paying the 20% tax rate, if that's your tax rate you have to pay the $400,000. If you have a like property in mind, you can roll…
- 11Apr
2016
Berger Commercial Realty Announces The New 550 Building In Downtown Fort Lauderdale BTS Web
Commercial real estate firm awarded leasing and management assignment for the property FORT LAUDERDALE, Fla. – Berger Commercial Realty announced it has been awarded the leasing and management assignment for a new seven-story, Class “A” office tower being developed in downtown Fort Lauderdale by Blackhawk Properties & Investments, LLC. Located at 550 S. Andrews…
- 8Apr
2016
Wendy Collins answers the question: What is a Twin-T roof? BTS Web
It's a double T beam its load bearing structure that resembles two T beams connecting to each other side by side. It creates a strong bond of the flange and it's a structure that is capable of withstanding high wind loads while having a longer span.
- 4Apr
2016
Lloyd Berger answers the question: What markets does Berger Commercial Realty serve? BTS Web
Berger Commercial Realty services Dade, Broward and Palm Beach Counties. Although we are South Florida focused, we do handle properties throughout the State of Florida.
- 1Apr
2016
Tim Hackett answers the question: Who pays for tenant improvements? BTS Web
Typically, the landlord pays for tenant improvements as part of the negotiation of a lease. At times, the rate of a lease or perhaps free rent is given in lieu of paying for the tenant improvements.
- 29Mar
2016
St. George Guardabassi answers the question: What commercial property listing services will my property appear if I list with Berger Commercial Realty BTS Web
Unlike residential real estate, commercial real estate uses many different listing services. We use up to about 14 different listing services. The company pays about, nearly $100,000 a year. The two primary services that we use are CoStar and LoopNet. We also use Catalyst property search and a host of others. This is to…
- 24Mar
2016
Gina Yehuda answers the question: What is an estoppel certificate and why is this necessary in the purchase of commercial real estate property? BTS Web
An estoppel certificate is used in a real estate transaction. It's a signed document establishing certain facts and confirming the terms of the lease which the signing party may not later dispute or recant.
- 21Mar
2016
Steve Hyatt answers the question “To get started in search for commercial space what do I need to provide to the commercial real estate broker?” BTS Web
First of all I like to have a sit down meeting with the owner, face to face, in their place of business. That way you get an idea of the type of operation they run, the kind of square footage they have, the quality of the operation, and the location. Then you go through…
- 21Mar
2016
Buying Versus Leasing in Today’s Market BTS Web
By: Roxanna Collins Over the course of my 30-year career, I can say with certainty that commercial real estate is one of the most dynamic industries in the world. Being a broker requires deft navigation and awareness of ever-changing market trends. Additionally, it’s important to have a solid understanding of how certain conditions will…