Landlord Issues In The Commercial Real Estate Market
The Deal Board · Andy Cagnetta & Jessica Fialkovich
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Show Notes
In today's episode, Andrew and Jessica dive into the complicated topic of dealing with landlords in the commercial real estate market and the inevitable fluctuation of the characteristics of this negotiation according to the economic atmosphere at the time of the deal. Prolific or down markets will set the features of the encounter with the landlord. Listen to the rich perspectives of Steven and Eric, business advisors from California and New York City respectively, and get tips to anticipate and set your strategy for a better deal.
Key takeaways:
[:40] Location, location location.
[1:17] Different times in economic cycles impose different ways of dealing with landlords.
[2:48] Transferring lease and negotiation with the landlord.
[5:35] What happens in a down market when transferring leases?
[7:05] Opportunity to renegotiate.
[8:30] No banks were financing in 2009 economic crisis.
[10:11] Steven Hanson's input about the commercial real estate market in California.
[11:18] Tip to prevent deal killers: Get in touch first with the property manager.
[13:02] Seller's strategy: See your lease as an asset.
[14:55] Eric Straus' perspective on the market from NYC: Landlords are tough.
Mentioned in this episode:
Tweetables:
"Down markets are opportunities to renegotiate." #tdb #transworldbusinessadvisors #downmarket #opportunity
"Connect first with the property manager to prevent deal killers." #tdb #transworldbusinessadvisors #propertymanager
"Sellers should treat their lease as an asset." #tdb #transworldbusinessadvisors #seller #lease