National Commercial Real Estate News
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June 05, 2008 - June 11, 2008
Provided by Commercial Real Estate Direct
The number of rent-stabilized apartments in New York City fell by 4% in 2007, to 836,004 units, according to the state Division of Housing and Community Renewal. Meanwhile, state officials have reported a 31% increase in the number of complaints registered by tenants about landlord harassment, to 344 this year. Read Full Story
The vacancy rate for industrial space in Broward County, FL rose 100 basis points to 5.4% in Q1. A housing industry decline has thwarted demand for the market's big-box warehouse space used by suppliers to the home improvement and construction industries markets. Read Full Story
Ground is set to break this week on a $55 million events center in the Cedar Park, TX. The Cedar Park Events Center project is slated to have a 181,000 sf indoor event center, as well as a 16-acre mixed-use project with 91,000 sf of retail space and 91,000 sf of added commercial space. Read Full Story
Eastern Real Estate and Highfields Capital Management have formed an opportunistic commercial real estate investment venture with $1 billion of equity. The vehicle is targeting debt and equity investments held by financial institutions that are seeking to increase their liquidity and to provide alternatives to clients who are "capital-constrained." The venture will also make preferred equity investments, and is targeting debt and equity investments held by financial institutions. Read Full Story
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Welcome to the Commercial Division, the premier source for Ocean and Monmouth County Real Estate.
The mission of the Commercial Division is simple. We will set the standard for Commercial Real Estate companies, conduct our business with integrity, establish long-term relationships built on trust, provide the best value, and deliver quality customer service.
My goal is to locate commercial property to start or relocate your business. I have the experience and knowledge of our markets to help you in making that critical site selection decision. I can locate properties for warehouse, office, retail and many other commercial purposes.
Contact me for a FREE MARKET ANALYSIS if you plan on selling your building or business.
Direct Line: (732) 232-6316 or email me: WKozlik@comcast.net
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LoopNet, Inc., a leading information services provider to the commercial real estate industry, delivers a comprehensive suite of products and services to meet the national and local needs of commercial real estate firms, organizations and professionals. LoopNet members can list, search, market, research and finance commercial real estate properties over the Internet - reducing their marketing costs, expanding their reach, accelerating the pace of transactions and enhancing their insights on the market.
LoopNet operates the largest and most heavily trafficked commercial real estate listing service online with more than 1.5 million registered members and 775,000 unique visitors monthly. The LoopNet online marketplace contains more than $370 billion of property available for sale and billion square feet of property available for lease. LoopNet's market-leading LoopLink product powers the web sites of more than 1,000 commercial real estate organizations and seamlessly integrates their web sites with LoopNet's listing service at
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What is a Triple Net Lease (NNN)?
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A triple net
lease
(NNN) is a type of commercial leasing agreement where the lessee pays all real estate
taxes
, insurance and maintenance in addition to the rent. As the landlord usually has no responsibilities related to building upkeep, many commercial landlords favor triple net leasing options. The building can generate a high level of income while the tenant keeps it in good condition, generally making improvements as well. The tenant has many of the advantages of ownership, including control over the property, without the substantial capital investment that a new acquisition represents. Examples of NNNs are CVS, Wal-Mart, Walgreen's and chain restaurants.
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What is a Tenant-In-Common Interest?
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After relinquished (old) properties are sold a wide range of 1031 exchange replacement (new) property can be found in the form of Tenant-in-Common (TIC) properties. Large office buildings, retail shopping centers, warehouses and apartment buildings can all be bought and sold as TIC property. Buying property as a TIC is simply a structure of property ownership where multiple investors pool their funds to own one entire property. Each TIC owner has an undivided fractional interest in the property and share in their portion of the net income, write offs, and appreciation on a pro-rata basis. Each TIC owner receives a separate property deed and title insurance for their portion in the property, receiving the same rights of ownership that a single owner would enjoy.
TIC properties are packaged with management and financing in place and are considered a "passive" approach to investing. For real estate investors tired of the hands-on nature of managing their own properties, a TIC may offer an opportunity to trade up to institutional quality investments while collecting monthly cash flow without all the headaches.
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