So you're looking for commercial real estate! You're kid's piano teacher sells houses on the weekends, why not just ask him to find you a new office building?

Residential Real Estate and Commercial Real Estate are two very different businesses. Simply because someone is successful selling houses doesn't mean they know the first thing about Commercial Properties. What's there to know? Parking Ratios, Zoning Restrictions, Easements, Use Groups, Fire Codes, ADA Compliance, Non conforming properties, Net Lease, Gross Lease, Common Area Maintenance, Environmental Site Inspections, The CT Transfer Act....the list goes on and on.

Commercial Real Estate is a kaleidoscope of overlapping issues...why can't a manufacturer build an apartment building for his workers next to the plant, throw up a movie theater and a shopping center? Because zoning boards try to steer development toward smart growth and the interests of the community and company towns aren't in the interests of the greater community

If you're representative isn't working in commercial real estate every day, doesn't know what market rents are, can't tell you whether a gross or net lease is the custom in your market, can't tell you that rents are measured by the square foot annually, unless your in California, doesn't know what an internal rate of return is, has never heard of a cap rate, can't define 3-phase power, has never seen a 1031 exchange or a BOMA measurement, then you are under served and wasting your time, energy and eventually....dollars.

November 30, 2005

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