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Commercial Real Estate Investment/Questions
| Subject | Date Asked | Expert |
| rent reduction | 2/8/2012 | Stephen A. Cross, CCIM |
| Q: can i request for rent reduction from my landlord after i signed the lease for retail(food service) ... A: Kim: Rental reductions are sometimes granted when a tenant can demonstrate they do not have the ... | ||
| CAM- | 2/4/2012 | Jim Avancena, CPM |
| Q: I bought a business & signed a lease in 2009. At the time the landlord didn't clarify how much I had ... A: Max: You need to contact a local attorney familiar with "Landlord and Tenant" law regarding whether ... | ||
| CAM charges | 2/2/2012 | Jim Avancena, CPM |
| Q: Our contract with a tenant says they share in the parking lot maintenance and repair via the CAM ... A: Jeff: Reasonably determining if an expenditure was maintenance or capital improvement is often ... | ||
| interests rates | 1/31/2012 | Mike Fortunato |
| Q: Do you feel 5.95 is a good commercial loan interest rate in today's market? Thanks for your ... A: There are other factors that contribute to whether a loan is good, such as the costs to obtain the ... | ||
| CAM refund | 1/27/2012 | Jim Avancena, CPM |
| Q: Can a landlord ask for repayment of a CAM refund? In May 2010, the 2009 CAM reconciliation showing ... A: Karen: This is a legal question based on the Landlord & Tenant law in your jurisdiction. I have ... | ||
| Stairwell Fire and ADA Code | 1/25/2012 | Mike Fortunato |
| Q: What are my requirements per fire code? ex. Do I need exit doors to have the floor number painted ... A: As codes vary from region to region, you need to check with the building department in the city ... | ||
| CAM and Management Fees | 1/22/2012 | Stephen A. Cross, CCIM |
| Q: We purchased the first floor of a two story building. We signed a CC&R contract with owner of the ... A: As I read your e-mail, management fees for your building amount to $750 per month, or $9,000 per ... | ||
| CAM for partial year tenants | 1/9/2012 | Jim Avancena, CPM |
| Q: If a lease commences during the middle of the year, what is the appropriate way to calculate CAM ... A: Tricia: Your lease text should be very specific about your question. What does your lease specify ... | ||
| getting bank loan to consolidate debt | 1/7/2012 | Mike Fortunato |
| Q: I have two 2-family houses I bought for investment and income supplementation, owned under an LLC in ... A: It really comes down to what debts you're defaulting on, and how agressive the collection efforts ... | ||
| getting bank loan to consolidate debt | 1/6/2012 | Mike Fortunato |
| Q: I have two 2-family houses I bought for investment and income supplementation, owned under an LLC in ... A: I would have suggested the same thing as your bank, with one exception. I think you should have a ... | ||
| getting loan to consolidate debt | 1/6/2012 | Terrence Cullen |
| Q: I have two 2-family houses I bought for investment and income supplementation, owned under an LLC in ... A: In actuality the idea of not having all your eggs in one basket is a solid concept with banks going ... | ||
| Real estate investment options | 1/5/2012 | Jim Avancena, CPM |
| Q: -I have $20000 cash -My revenues minus my expenses i am left with $300 every month What kind of ... A: Claude: Depending upon the economic level of the market where you are located, I would think you ... | ||
| Real estate investment options | 1/4/2012 | Mike Fortunato |
| Q: -I have $20000 cash -My revenues minus my expenses i am left with $300 every month What kind of ... A: Any analysis of potential investment should include an overview of your entire financial situation. ... | ||
| Real estate invesment options | 1/4/2012 | Dennis Herman |
| Q: -I have $20000 cash -My revenues minus my expenses i am left with $300 every month What kind of ... A: The best thing to do is contact a local Real Estate Agent. Let them know what you are looking for ... | ||
| Real estate investment options | 1/4/2012 | Jim Avancena, CPM |
| Q: -I have $20000 cash -My revenues minus my expenses i am left with $300 every month What kind of ... A: Claude: Get into an investment that has limited risk, is uncomplicated, and fairly simple to ... | ||
| Office lease: t.i.'s | 12/22/2011 | Jim Avancena, CPM |
| Q: FACTS: I'm at final stages of negotiating a 5 1/2 year lease for office space in Los Angeles. The ... A: Stefanie: My experience is that a landlord will factor in an additional charge of about 2% above ... | ||
| Alternative Investments | 12/18/2011 | Mike Fortunato |
| Q: I am a beneficiary in an inheritance Trust and would like to invest it in the stock market. The ... A: Real estate is a particularly good investment, especially now that prices are depressed and interest ... | ||
| potholes in parking lots | 11/30/2011 | Phil Nicols |
| Q: I'm wondering who is responsible for a humongous pothole at the entrance way of a parking lot inside ... A: wow. its a good question and after all the years Ive answered questions here, yours is the first ... | ||
| Breaking a lease | 11/21/2011 | Phil Nicols |
| Q: I am currently a college student in Delaware and would like to move into a new apartment, the ... A: Guillermo the "short answer" is NO. She signed a lease, she must honour it. in reality though, ... | ||
| Does a Commercial Landlord have to give minimum heat. | 11/1/2011 | Stephen A. Cross, CCIM |
| Q: There is only one central Thermostat. He does not let me see bills. I pay for a 1/3 of the floor. I ... A: Beverly: If the Lease Agreement requires the landlord to provide heating and/or cooling, the ... | ||
| A "Bad" Mortgage? | 10/18/2011 | Terrence Cullen |
| Q: I'm taking an introductory economics class, and I was wondering if you could clarify something for ... A: A bad mortgage is one whose either the underwriting was flawed due to an improper appraisal, the ... | ||
| Option to Renew Commercial Lease | 10/10/2011 | Jim Avancena, CPM |
| Q: we have been leasing a space for our bakery for five years and now, just at the time of the lease ... A: Bruce: I am not an attorney and cannot offer any legal advice. Your lease and other correspondence ... | ||
| free rent commission calculation | 9/22/2011 | Jim Avancena, CPM |
| Q: i have a 20,000 sf gross office lease. rent is $20/sf in year one, escalating $1/ year. term is 5 ... A: Paul: I come up with $ 98,799.96 with my calculator while I am driving out of state to see a ... | ||
| Annual Operating Budget Monthly CAM Calculation | 9/8/2011 | Mike Fortunato |
| Q: I am building an annual budget for an office building. I seen to be having a problem getting a ... A: It's difficult for me to determine what may be wrong without seeing the spreadsheet, but your ... | ||
| Finders Fee | 9/6/2011 | Mike Fortunato |
| Q: Good Afternoon; I know of a 20 unit apt bld in the Bronx, NY that is for sale, and due to my ... A: There is no set rate for finder's fees -- it's up for whatever is being offered. There really is not ... | ||
| renting primary home to a file company | 9/6/2011 | Mike Fortunato |
| Q: a film company in Philadelphia has been interested in our home to shoot a movie. they have been out ... A: Unfortunatelty, there is no general idea or rate4 schedule -- it's whatever you can negotiate. ... | ||
| Renegotiate Existing Lease for Business | 8/23/2011 | Jim Avancena, CPM |
| Q: Can you give me a sample letter to renegotiate our existing lease in Irvine, CA and Beverly Hills, ... A: Cruz: You need to narrow the scope of what you want. A sample letter to a landlord to renegotiate ... | ||
| Tackling a Leasing Challenge | 8/22/2011 | Mike Fortunato |
| Q: Our non-profit is currently half way through a 3 year lease of a small commercial property which ... A: Your concern for the owner is admirable, but there really isn't much of a chance for a compromise ... | ||
| Tackling a Leasing Challenge | 8/22/2011 | Mike Fortunato |
| Q: Our non-profit is currently half way through a 3 year lease of a small commercial property which ... A: Unfortunately, I get this question a lot, and there's really not much you can do relating to ... | ||
| Fixing A Bad Lease Situation | 8/22/2011 | Jim Avancena, CPM |
| Q: Our non-profit is currently half way through a 3 year lease of a small commercial property which ... A: Karl: Sorry to learn about your situation. You are not as knowledgeable about the commercial real ... | ||
| commercial agents | 8/15/2011 | Stephen A. Cross, CCIM |
| Q: We own a number of commercial buildings in the Atlanta area and are preparing to put one on the ... A: Larry: Atlanta should have at least a dozen commercial real estate firms that would like to list ... | ||
| Real Estate | 8/10/2011 | Jim Avancena, CPM |
| Q: My name is Rashad. I have invested in real estate for a living a few years back. I am in the ... A: Rashad: I suggest that you attend every available learning opportunity in the area of real estate ... | ||
| Real Estate | 8/10/2011 | Mike Fortunato |
| Q: My name is Rashad. I have invested in real estate for a living a few years back. I am in the ... A: Unfortunately, with little capital and no or bad credit, your only option would probably be to find ... | ||
| commercial lease additional rent fees | 8/1/2011 | Jim Avancena, CPM |
| Q: I have a three year lease in a shopping mall. I pay $20.00 a square foot for my base rent. 875 sq ... A: Kendra: You or your real estate agent must have asked the landlord or its leasing agent how much ... | ||
| Commercial Lease | 7/18/2011 | Jim Avancena, CPM |
| Q: I am currently under a commercial lease that is now into its 8th year, even though I initially ... A: Linda: The sad truth is that you got involved in commercial leasing and sub-leasing without knowing ... | ||
| Real Estate discussion question | 6/29/2011 | Jim Avancena, CPM |
| Q: My teacher would like for me to interview a actual real estate salesperson. I hope that you can ... A: Dewayne: I have specialized in commercial real estate only for the last thirty (30) years and I can ... | ||
| Landlord denies Buyer lease | 6/13/2011 | Stephen A. Cross, CCIM |
| Q: My profitable business is currently for sale through a business broker. We found a cash buyer and ... A: Jo: Without a lease for a period of years that is transferrable, the improvements, FF&E (Furniture, ... | ||
| Landlord denies Buyer lease | 6/13/2011 | Stephen A. Cross, CCIM |
| Q: My profitable business is currently for sale through a business broker. We found a cash buyer and ... A: Jo: The critical piece of the puzzle is the month-to-month tenancy. Without a lease for a period of ... | ||
| Landlord denies Buyer lease | 6/12/2011 | Stephen A. Cross, CCIM |
| Q: My profitable business is currently for sale through a business broker. We found a cash buyer and ... A: Jo: Your ability to transfer the "bundle of rights" contained within the four corners of the lease ... | ||
| Landlord holding security deposit while past CAM is reconciled | 6/7/2011 | Jim Avancena, CPM |
| Q: We moved out of our commercially leased property last month (per the lease). When I inquired about ... A: Beatrice: Go to the building where they actually have the legal trials for landlord and tenant ... | ||
Answers by Expert:
Jim Avancena, CPM
Top Expert on this page
Expertise
Best qualified to answer questions that involve commercial leases, that is, basic issues as well as the often unexpected effects of the complexities and inter-relationships of the provisions a lease may contain, explain how seemingly innocuous text in your lease can have a major impact on a Tenant or Landlord and their business operations, and the common practices utilized in the industry. I can untangle most matters that may come up from the time a tenant begins searching for a office or store space and the lease acquisition process, concerns related to remodeling/improving the leased premises, moving-in, subletting or assigning the leased space, and a long list of problems that may come up during the lease term and even after a tenant moves out. I have practical experience with most property management issues and resolving landlord and tenant disputes - especially those involving what may appear to be overcharges assessed for additional lease charges like CAM costs, operating expense reimbursement, real estate taxes, utilities, construction improvements etc. Note that I am not an attorney and cannot provide legal advice.
Experience
Thirty years active experience in the commercial real estate industry as a licensed real estate broker in the Washington DC Metro area (DC, Northern Virginia & Maryland). I have been admitted (approved) by the Maryland and DC courts to testify as an expert witness on the subjects of Commercial Leasing and Property Management in the area of standard industry practices. I have had a business for the last 14 years advising virtually every form of business entity from large national corporations to the smallest ma & pa new businesses regarding a wide range of commercial real estate matters in addition to property management and commercial leasing.
Organizations
Currently my three children keep me so busy that it is difficult to participate in organizations with continuing and specific time requirements.
Publications
I publish a local commercial real estate newsletter titled: "Tenants First". My firm was the subject of a high profile Washington Post business section cover page (2.25 full pages) feature story on January 13, 1993; titled "Overcharging Overhead".
Education/Credentials
BA in Political Science from Memphis University, and five years of study in the real estate development summer program at MIT. I was certified as a commercial property manager (CPM-IREM), and currently hold a brokers license in Maryland and the District of Columbia.
Awards and Honors
The same plaques and honors that most others in my industry have earned. I have none that I consider especially meaningful.
Past/Present Clients
Past clients include: The World Bank, George Washington University, National Association of Criminal Defense Attorneys, US Department of Commerce, The American Benefits Council, K-Mart Development, many law firms, a national union, other major organizations, and many, many small business firms and retail operators that I am most honored to serve. I estimate more than 1,500 firms/organizations.
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