Leasing office space: perceptions versus reality

Article Abstract:

Pointers with which asset managers can choose a leasing management company were presented. The selection of a competent leasing management firm is important in assuring that the interests of the building owner are upheld. The pointers are that the tenant-representative relationship is opposite that of owner-representative relation, tenant-representative firms cannot be equated with owner-representative firms and that there are firms which offer both tenant-rep and owner-rep services.

Management, Commercial leases, Office leases

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Time to fix the office building business

Article Abstract:

The shift of the burden of space reconstruction from the building owners to the tenants enables owners to make an accurate computation of their net operating income (NOI). It also slimmed down capital requirements and assures owners of the tenants' financial capability. However, tenants also benefit from the exclusion of improvement cost from rent since they get to regulate the cost of occupancy and eventually predict savings.

Subdividers and developers, not elsewhere classified, Land Subdivision and Land Development, Office & Commercial Developers, Economic aspects, Contracts, Real estate industry, Office buildings, Commercial developers

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The valuation virus

Article Abstract:

The valuation virus in office real estate, also called as the '$3 bug,' refers to annual cost of the amortization of tenant improvement (TI) costs over the term of lease. The TI amortization is an important consideration in computing for net operating income and thus, owners, builders and developers are being required to include it when presenting an analysis of their property valuations.

Analysis, Valuation, Real property, Real estate appraisal

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