Commercial Leases: A Few Things to Look Out For
Although we always recommend that prospective tenants work with a commercial real estate agent (as well as a commercial real estate attorney) when negotiating leases, it is good to be an informed consumer and know some things to lookout for when entering into a deal.
Why hire a commercial tenant rep broker?
Considering the way properties typically are listed, the more appropriate question is why wouldn’t you? When a commercial property is listed with a broker, the commissions are already baked in. Therefore, if you don’t take advantage by bringing your own representation, you are essentially leaving money on the table. You are not fully taking advantage of all available resources. And when you pass on the privilege of tenant representation, that money either goes to the listing broker or stays in the landlord’s pocket.
Industrial Real Estate Values Skyrocket in Nashville, Growth Projected to Continue
As you’ve surely already heard, industrial property is red hot, and is changing the commercial real estate market, especially in cities like Nashville. According to a recent CoStar article, “logistics companies are expanding to secondary North American cities, transforming portions of once sleepier areas that have seen huge population upticks in the past two years into larger distribution hubs.” Along with other “secondary cities” such as Cincinnati, Phoenix, and Tampa, the Nashville real estate market is exploding right now, in part due to this industrial expansion.