Navigating the Commercial Inspection Process

October 24, 2023October 26, 2023 Alexa Broylescolumbus, commercial inspection, commercial real estate, CRE, industrial, investment, land, office, property inspection, retail, transactions, Warehouse

Commercial inspections may seem like a mundane detail in the process of buying a property, but they are an extremely valuable and important tool in gauging your risk when making a purchase. At first glance, it may seem as if all commercial property inspectors are the same, but we spoke to the experts and discovered that commercial inspections are affected by several factors and criteria that impact the value you receive from them. From how to choose a commercial inspector to what you should expect, this is what you need…

Commercial Real Estate 101

Beyond the Deal: Four Essential Steps Now That You’re Closing on Your Commercial Property

August 24, 2023August 24, 2023 Alexa BroylesBudgeting, Capital Expenses, Capital Reserve Study, certificate of insurance, Closing on Commercial Property, columbus, commercial real estate, CRE, Insurance, Preparing for Occupancy, property management, Property taxes, Reserve Funding Plan

Your offer has been accepted, you’ve completed your due diligence, and you’re closing on your commercial property – so, what’s next? Whether you are a commercial property owner or tenant, there are still more details to attend to. From preparing your space for occupancy to budgeting for long-term capital expenses, these are the must-do’s now that you’re closing. 1. Prepare the Space for Occupancy Now that you’ve found the perfect space for your business, or secured the ideal tenant, it’s time to begin making it your own. You’ll need to…

Commercial Real Estate 101

Understanding the Total Cost of Occupancy

August 9, 2022August 9, 2022 Alexa BroylesAdditional Rent, CAM, columbus, commercial lease, commercial real estate, CRE, NNN, office, rent, Rent Escalation, tenant representation, total cost of occupancy

When signing a commercial lease, there are many factors that impact your overall cost. Understanding the total cost of occupancy is important both for budgeting and developing accurate financial forecasts over time, as well as for negotiation. Recently, our Office Brokerage Group of Matt Gregory, Andy Dutcher and Philip Bird worked with The Joseph Group to secure a new office space. The Joseph Group had outgrown its current space of roughly 5,500 square feet and sought a space that could accommodate its current needs, but would also facilitate the organization’s…

Commercial Real Estate 101

Do You Need a Specialist in Commercial Real Estate?

June 16, 2022June 16, 2022 Alexa Broylescolumbus, commercial real estate, CRE, data centers, hospitality, industrial, investment, land, medical office, office, religious institutions, retail, schools, self-storage, Specialization, transactions, Warehouse

From financial advisors to medical practitioners, at some point, we’ve all needed a specialist. Real estate is no different. We’re all familiar with residential and commercial real estate, but through the years, commercial real estate specifically has become highly specialized. A broker’s role has morphed into that of a real estate “advisor.” Depending on the property type and specialization, there are a slew of functions brokers perform, including financial and market analyses, demographic studies, site selection research, portfolio analysis, and more. The depth of broker specialization is largely dependent on…

Commercial Real Estate 101

Five Reasons You Should Engage a Tenant Rep to Negotiate Your Commercial Lease

June 7, 2022July 11, 2022 Alexa Broylescolumbus, commercial real estate, CRE, industrial, land, office, retail, tenant representation, transactions, Warehouse

Leases dominated our roster of closed transactions for May with our office signing or renewing leases equating to more than 205,000 square feet. With such a significant amount of leasing activity, we thought we’d take a deep dive into the benefits and misconceptions regarding tenant representation and share with you our top five reasons why hiring a tenant representative is beneficial! Signing a lease for a commercial property is a big commitment, and finding that perfect space is often a time-consuming and sometimes, daunting task. The good news is –…

Commercial Real Estate 101

Rapidly Appreciating Market Creates Challenge in Assigning Values

February 17, 2022February 17, 2022 Alexa Broylesappraisals, appraiser, brokers, central ohio, columbus, commercial real estate, construction costs, e-commerce, market value, new building, real estate agents

Central Ohio’s rapidly appreciating commercial real estate market is leaving some brokers and buyers trying to figure out how to get the deal done. As buyers are pursuing some sectors of the commercial real estate market with vigor, prices are climbing at a pace that is making it difficult for appraisers to keep up with the market. Last year, the industrial sector saw record growth due to the e-commerce boom, and rent growth stemming from the pandemic. In Central Ohio, the industrial sector saw the price per square foot increase…

Commercial Real Estate 101

Seven Ways to Prepare for an Industrial Property Search Heading into 2022

December 16, 2021January 14, 2022 Alexa BroylesBlake DeCrane, columbus, commercial real estate, CRE, Curt Berlin, industrial, Industrial Property Team, matt osowski, Warehouse

The landscape for acquiring industrial property has changed dramatically over the past year. After brick-and-mortar retail came to a screeching halt in early 2020 due to the COVID -19 pandemic, online purchases soared, and since then, retailers have been leasing the existing industrial warehouse space in Columbus, Ohio, at an unparalleled pace. The NAI Ohio Equities Industrial Property Team explained that their business has flip-flopped with the majority of their 2021 representation being on the tenant side, where it has traditionally been on the landlord side. Industrial warehouse space is…

Commercial Real Estate 101

What You Should Know About a Broker Opinion of Value

November 23, 2021November 23, 2021 Alexa BroylesBOV, BPO, Broker Opinion of Value, Broker's price opinion, columbus, commercial real estate, CRE, Owner Representation, Property Valuation, real estate analysis, real estate appraisal

What is the Difference Between a Broker Opinion of Value and an Appraisal? Both a Broker Opinion of Value (BOV) and an appraisal utilize the same approaches to determining the value of properties, however, there are some key differences. To begin, an appraisal is performed by a state-licensed third party and performed at a cost. Specifically, in terms of commercial real estate, the cost may be significant. Often, a BOV is at little or no cost, as many brokers provide this service as a means of earning representation for the…

Commercial Real Estate 101

Looking for an Investment Property? Self-Storage May Offer a Unique Opportunity

October 7, 2021July 18, 2022 Alexa BroylesCarter Stephens, columbus, columbus ohio, commercial real estate, Conor David, distribution, industrial, Investment Sales Team, just leased, multi-family, office, property, retail, self-storage, Tyler Watkins, Warehouse

September commercial real estate transactions remained steady and accounted for roughly 325,000 sq. ft. in sold or leased, office, investment, industrial, and retail properties in our office. One of our largest sales was 485 Lee Street in Belpre, Ohio. The self-storage facility featured nearly 78,000 sq. ft. of rentable space and an astounding 465 units. Self-storage continues to be a desired investment sector, and has gained significant interest recently for several reasons. To begin, explained Investment Team Broker, Tyler Watkins, self-storage properties tend to be easier to manage and have…

Commercial Real Estate 101

Industrial CRE: the party isn’t over yet!

July 29, 2021July 29, 2021 Amy Karnesfullfillment, industrial, online sales, trends, Warehouse

Real Capital Analytics (RCA) has released their latest US National All-Property Index data for industrial, apartment, retail, and office sectors, which shows index growth of 8.4% year-on-year to April 2021. The biggest gains were evident in Industrial (up by 9.4%), which we all know has been one of the few spaces for which Covid-19 proved to be a boon. But GlobeSt analysis of Crexi data and Moody’s Analytics suggests that a “market correction” may be on the cards In the monthly Crexi National Commercial Real Estate report, they write, ‘for…