NAI Global was ranked 4^th on National Real Estate Investor’s (NREI’s) Top 25 Brokerage Survey. The ranking is based on the total dollar value of leasing transactions and investment sales globally in 2008. The article preceding the rankings, Looking for Trouble, discusses how commercial real estate firms are altering their services to take advantage of the growing distress in property markets, and features NAI Global’s Commercial Property Powersale.  Click here to read the article.

We can develop customized real estate solutions for tenants and landlords of office properties. Whether you need to lease or sublease office space or buy or sell an office building, Our brokers can develop a customized solution that meets your real estate needs.

Harrison Place http://listing.loopnet.com/15859210
Marketplace http://listing.loopnet.com/15095295
One Financial Plaza http://listing.loopnet.com/14496446
Johnson's Building http://listing.loopnet.com/13894455

The Hartford-Springfield Economic Partnership's 8th Annual State of the Region Conference will be held Friday, May 29, 2009 at 7:45 a.m. to 11:30 a.m. "Navigating Times of Economic Peril" will be held at La Renaissance in East Windsor CT. Prominent Speakers will provide timely insights on the region's economy and federal stimulus funding.

This is a very valuable site to study and this is a great idea for Springfield.
http://www.cnu.org/

For more information visit the artists website at  > www.artmancini.com.

NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, announced today it has formed an alliance with Site Analytics Co., a site selection consulting firm, to offer expanded market analytics services to NAI retail professionals. Founded in 1995, Site Analytics advises brokers, retailers and landlords on growth-related strategic issues.  Their customized reports and models employ sophisticated analytic techniques to provide unique insights that help clients resolve the tough questions they face on a daily basis.  Adapting these tools—in consultation with NAI Global’s Market Analytics team—for use by NAI retail professionals, Site Analytics’ range of services helps brokers provide the best possible advice to their clients and improve the site selection process.

“Site Analytics is a market innovator and respected service provider in the U.S.,” said George Anderson, Vice President of NAI Global Market Analytics.  “This alliance will expand the reach of the Market Analytics team, and enhance this key service offering for our clients.”

Throughout 2009 Site Analytics will create and implement new products tailored specifically for NAI Global’s managed network, with the first set launching in May prior to ICSC RECON Global Retail Real Estate Convention.  Some of these custom products help retail brokers determine how to most effectively identify prospective tenants and market a property.  Others help NAI brokers advise their retail clients on the best markets and sites for their expansion or contraction efforts.

“Site Analytics is proud to be an Alliance Partner of NAI Global,” said Adam Epstein, President of Site Analytics Co. “Especially in times like these, it’s important to ensure that clients are making a fully-informed decision.  We are pleased that NAI brokers, who are often acknowledged as the leading experts in their home markets, will be enhancing the services they offer their clients with the addition of our customized analyses.” 

Please join The UMass Amherst/Springfield Partnership, The Springfield Public School System and The Sankofa Dance Project for an African Dance event celebrating collaboration, community and the work of Springfield's Central High School dance students at The Old First Church in Springfield, May 7th at 10am. Learn about African Dance with Marilyn and Sekou Sylla from the Bamidele Dancers and Drummers who worked with the Central High School students in March. This interactive program will include songs of welcome and freedom, authentic costumes, and explanations of an assortment of traditional rhythm instruments and will invite continual participation by the audience as Marilyn and Sekou often bring students onstage to join them. Meet world renown African Dance Master and 2009 Sankofa Master Artist, CHUCK DAVIS who will work with students from Zanetti Montessori Magnet School. For details visit > http://www.sankofadanceproject.com

NAI Samuel D. Plotkin and Associates is committed to a creative community and economy.

Click here for the full story > http://www.courant.com/news/local/hc-high-speed-rail-dodd-0417.artapr17,0,6342213.story

It’s easy to get confused by lease rates if you’re not in the real estate business; it’s actually confusing even if you are. There are many types of leases but I’ll confine my remarks to the types used most often in commercial leasing. As a tenant you have to understand these basic lease types in order to compare rates. There are two basic types of leases: Gross and Net, but lot’s of variations in between.

I’ll start with the simplest type (includes no amenities) and move towards the more complicated includes all building amenities.

Absolute Net Lease: Sometimes referred to as a “Bond Type Lease” because, like a bond, income flows to the owner who has no responsibility to the property or tenant. This is most common with build-to-suit single tenant properties. The tenant pays rent to the Landlord and then pays all expenses associated with the property including replacement of mechanical systems, roof and structure of the building.

Net Lease: Sometimes called a triple net lease. Tenant pays rent to the landlord and all expenses except replacement of roof or structure of building. There are many variations of this type so it’s okay to ask what is or is not covered, i.e. the lease may have the tenant responsible for replacement of mechanical systems if they go bad. For purposes of rate comparison it’s enough to know it’s a net lease. Used almost exclusively in retail and industrial leasing but sometimes new medical and professional office buildings.

Gross Lease: In this type of lease most expenses are included in the rent. There are many variations to this type of lease and, as a result, more confusion. The tenant may pay their own utilities or cleaning, they may pay taxes but nothing else. When the tenant pays some of the expenses we call this a “modified gross Lease”. You have to ask what’s included in the rent. Very common in class B and C (multi-tenant older buildings) office leases, sometimes used in industrial properties.

Full Service Lease: This is a Gross Lease used almost exclusively in class A (newer muti-tenant buildings) office leasing. The lease rate includes every expense associated with the property including nightly cleaning of individual suites and on-site property management. This lease may also provide on-site security, back up generators and sophisticated fire suppression systems. The point is the tenant is not billed for any of these services or taxes, insurance, utilities, etc. There could be charges for extra maintenance on an hourly bases if the tenant need some repair within their suite.

Wait! I have a lease like this and I’m constantly getting these bills for little repairs and stuff, what’s up?

My next blog will be about those pesky “Escalators”!

- Bill Low
 

To ask Bill a specific question about commercial real estate, click on the image below.