Commercial Real Estate Education

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By: spaceselectors   June 18, 2019

Great Location Study: Master Community Association

A great location has a healthy master community association. A great community has a multitude of overlooked and unknown organizational underpinnings that affect the lives of residents, works and visitors in profound ways. Terms like; metro district, economic development corporation or homeowners association are definitely not sexy. That's ok. These terms are germane to the long-term stability of home values, cost maintenance and availability of capital that can be deployed for meaningful inf

By: spaceselectors   June 18, 2019

Great Location Study: Water Tap

A great location has reasonable water tap fees. That cool refreshing drink. No, not lemonade, water. It is the most important natural resource in the world. In the U.S., there are continued efforts to manage and conserve the use and access to H2O as there should be. Water tap fees are a significant line item in new real estate development proformas. Real estate developers know this. Further, the cost of water tap fees vary from city to city. Real estate developers know this too. The proble

By: spaceselectors   June 18, 2019

Great Location Study: Patio

A great location has a patio. Today's a great example of why this post had to be written. It's almost 80 degrees here in Colorado. I've had multiple invitations to break from the office early but as attractive as those offers were, duty called. I'm no hero. I'm supposed to work hard. BUT! Once I'm done, I'm am going to find a great patio where I can relax and enjoy the weather. In fact, I don't even care how great the restaurant or bar happens to be. I just want a great inviting space where p

By: spaceselectors   June 18, 2019

Great Location Study: Title

A great location has a clear title. In the mad rush to close on a deal, it's amazing how many critical details get overlooked or ignored. Sellers of real estate may feel like they've won when a buyer or a buyer's broker doesn't ask a dreaded question or request deal-threatening information. A buyer may think that they've pulled the wool over an owner's eyes when their low-ball offer gets accepted with no counteroffer. For fear of losing a 'can't miss' deal, the buyer doesn't want to ask too m

By: spaceselectors   June 18, 2019

Great Location Study: Utility Costs

A great location maintains low utility costs. The reality of retail is that the cost of goods, labor and construction increase every year. While a landlord's base rent costs are linked to the historical success of a particular location, the level of tenant finish, tenant improvement allowance made available and absorption, base rent is negotiable. As you know, base rent isn't the only cost that a tenant has to pay. Triple nets, NNNs, or additional rent elements such as common area maintenance

By: spaceselectors   June 18, 2019

Great Location Study: Natural Light

A great location has an abundance of natural light. Sunshine feels good. It's warm. It's inspiring. It's relaxing. People like sunshine and natural light. So why not invest in real estate markets or specific locations where the rays of the warming sun are plentiful? Outside of our major U.S. urban cores, some of the greatest retail and restaurant volumes are found in warm, sunny climates. San Diego, Denver, Honolulu, Los Angeles, Las Vegas, Miami, Dallas, Houston, Phoenix are all examples

By: spaceselectors   June 18, 2019

Great Location Study: Sole Provider

A great location is the sole provider of goods or services within a drive time of 30 minutes or more. Have you ever been on a road trip and stopped for gas in Where-the-what, USA? As your gas pumps slowly, you lean your back against the rear door of your car, and survey the main street. The weathered wood siding and corrugated metal awnings frame what is supposed to be a town square and you ponder, "squares don't have three sides..." Your mild confusion is interrupted by the click of

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