Archive for October, 2011
How Long of a Lease Should a Retailer Commit To?
Oct 26th
By Michael Schiff, Executive Vice President, NAI Capital
The decision regarding how long of a lease to sign is very different for an office tenant than it is for a retailer. An office tenant needs to consider, among other things, how long it will take before they outgrow their space, and if they predict rents will be higher or lower at the end of their lease term. As an office tenant’s business grows, typically the number of employees they have also grows and they therefore need larger space. It’s a bit different for a retailer because as a retailer’s business grows, the retailer usually expands by opening up more units, not expanding the square footage of each unit. In addition, retailers don’t like to relocate profitable stores at the end of the lease since, as the saying goes, “If it ain’t broke, don’t fix it”. More >
Transition Brokerage: Introduction
Oct 26th
by Bob Scullin, CEO, SIOR
We can all picture in our minds Wile E. Coyote, the Looney Tunes cartoon varmint whose hapless life is a never-ending pursuit of The Road Runner. Wile E. has a lot of arguably desirable traits, including his creatively single-minded commitment to realizing his goal of having The Road Runner for dinner (as an entree, not as a guest). But the poor canine always seems to over-pursue his objective. We all laugh as Wile E. chases The Road Runner down the desert trail, runs off the cliff, realizes that he is in mid-air with his legs wheeling at terminal speed, then falls haplessly to the valley floor far below. More >
Recent Transactions: Week of October 17, 2011
Oct 18th
NAI Capital is pleased to announce the following recent transactions: More >
Haystack Brokerage: Polar Opposites
Oct 18th
by Bob Scullin, CEO, SIOR
The end of last week’s blog mentioned that Haystack brokerage is the polar opposite of Relationship brokerage. Therein lies the problem: Haystack brokers are as far away as they can get from Relationship brokers who maximize the effect of their labors by establishing relationships with their contacts and generating referrals from their friends and colleagues of their contacts. More >
2011 Fall Market Perspective
Oct 18th
NAI Capital is pleased to present to you its 2011 Fall Market Perspective for Southern California.
This perspective is a survey of NAI Capital’s Los Angeles Basin brokers’ and their collective knowledge and experience regarding the market trends and conditions presented in their marketplace right now.
Highlights include:
- The combination of high vacancy and low rents has almost completely eliminated the need for new construction on the whole.
- Brokers specializing in the retail and industrial markets reported greatest interest in future requirements.
- NAI Capital’s multifamily specialists expect rents to increase slightly in the coming months.
- Leasing activity during the first six months of 2011 increased as economic conditions in the Los Angeles Basin improved.
Date Palm Self Storage Sells for Close to $5.8 Million
Oct 18th
| CATHEDRAL CITY, CA – Date Palm Self Storage located at 69100 Converse Road in Cathedral City recently sold for almost $5,800,000 to private investors. The property will be re-branded as Extra Space Storage. More > |
NAI Capital Represents Culver City Multifamily Investment
Oct 12th
| CULVER CITY, CA – Rod Delson with NAI Capital’s Westlake Village office represented the seller, 3932-3936 Sepulveda Blvd LLC, and buyer, MHE Investments in the investment sale and purchase of a 13,690 square foot multifamily building situated on 22,216 square feet of land at 3932 Sepulveda Boulevard in Culver City. The transaction was valued at $2,600,000.00. More > |
Haystack Brokerage: “Trust, but Verify”
Oct 12th
by Bob Scullin, CEO, SIOR
President Ronald Reagan famously said, “Trust, but verify” in his relations with the Soviet Union. (After the president used the phrase at the signing of the INF Treaty, his counterpart Mikhail Gorbachev responded: “You repeat that at every meeting,” to which Reagan answered, “I like it.”) More >
Haystack Brokerage: Too Many Zeroes
Oct 4th
by Bob Scullin, CEO, SIOR
The Haystack broker is prone to desperation because he is betting the farm (or at least his next mortgage payment) on closing whatever deal is on the horizon. His pipeline is not dependable and he has to do whatever it takes to close every potential deal, regardless of whether they are beneficial to his principals. Such desperation leads to a lack of flexibility in negotiating commissions with clients as well as in mediating commission disputes with fellow brokers. More >
Recent Transactions: Week of October 3, 2011
Oct 3rd
NAI Capital is pleased to announce the following recent transactions: More >
NAI Capital Negotiates $5.5 Million Industrial Sale
Oct 3rd
| CAMARILLO, CA – NAI Capital, a leading Southern California commercial real estate brokerage headquartered in Encino, represented Batarse Family Partners, a CA. L.P. in the sale of a 52,380 square foot industrial building situated on 136,778 square feet of land at 3903 Calle Tecate in Camarillo to Binder-USA. The transaction was valued at $5,500,000.00. More > |