Informed commercial real estate news

Hi everyone I had a quick question re AtHome. What was so clear on the 10k that at home was going to file bankruptcy? What led you to that conclusion? submitted by /u/allstarpetar [link] [comments]

Hey all, (Mods do not take this down - no one ever responds in the discussion board) I’ve been a member of this sub for almost a decade now. I joined during my sophomore year of college when I landed my first internship in CRE. Well, it’s been a long road (one that always seems to get longer). I landed my dream job around 10 months ago working as a dev associate. At 29, I feel like I’m about 1–2 years behind where I’d like to be, but the path wasn’t always clear. Background: Industrial and office brokerage for 2–3 years (I also acted as a property manager during this time for a small office portfolio), residential redevelopment (small multifamily properties and homes), and I completed an MBA. I’m now 10 months into my role with a small regional developer (a 5-person team). My job requires me to wear about 17 different hats, and I love it. The experience I’m getting is unreal some days. If I had to break down my role, I’d say I do three main things: deal sourcing, project management, and investor relations. On the deal sourcing side, I’ve been assigned three markets, which I spend half my time either on the phone or traveling to in person (1–2 trips per month) to source land deals. It’s funny earlier in my career, I thought modeling was the challenging part, but once you have that down, sourcing the actual deal is the real headache (duh). It goes without saying that I also conduct and continually update all of our market research for the markets I cover. On the project management side, I’m currently pushing a smaller $20M project across the finish line toward closing. I’m responsible for various dd and precon items, including ordering surveys, title work, geotechnical reports, environmental studies, T&E, traffic studies, design reviews and revisions, lender vetting, attorney coordination, and more. Honestly, the list seems to go on forever, but I have yet to get bored. The investor relations side is probably the smallest portion of my job, but I’m building all of our OMs for deals and actively helping build relationships with more LPs and institutional investors that I have in my network. If you’ve read this far, I’m curious whether my comp is in-line, as compensation structures for roles like this vary quite a bit. Right now, I’m making $70k (which feels low); however I did not come from a traditional development background (I did not have true direct development experience which almost every job I was trying to land required). We currently have about a $120M pipeline across four projects. I’m getting amazing experience and exposure (my direct boss is the founder and has 30+ years of development experience with over a $1B track record), which is a huge plus. My title is development associate, but you could probably relabel it as several different things. I feel like a larger shop wouldn’t have hired me a year ago (applied to numerous other dev groups before this role), but compensation for a role like this feels like it should be closer to 110–130k. One of the main reasons I accepted a lower paying role is that they told me we would discuss receiving a share of the promoted interest around the middle to end of year 2. However, until that document is signed, it’s still just a dream. I currently have no plans to leave. I enjoy the role and the team, however the day may come sooner than later where I can retrade my comp structure. submitted by /u/Strivebetter [link] [comments]

Hello! I work for an architecture firm in the Boston area. I am doing some research on the current top office building amenities for employees in both suburban and urban settings. What amenities are getting you to the office, or what trends are you seeing? Any insight is appreciated. Thank you! submitted by /u/sbarbs12345 [link] [comments]

Hey guys, I'm an investment analyst working for a real estate fund. Most projects in our portfolio are ground-up development projects (single-family, townhouse, condo) in New York. I'm preparing the investment memo and would love to learn from you. What should I consider? What should I include in my memo? What are the differences between the one prepared for banks and the one prepared for investors? One main question I would love to ask: For the sources & uses section, should I write two separate slides listing sources & uses at acquisition and sources & uses for construction (I'm preparing this for a bank, but I'm not sure if that's needed)? For banks, what will you review when a developer applies for loans? submitted by /u/Neat-Ad-6002 [link] [comments]

The lease has a cognovit clause, and landlord wants to enforce a judgement after material breach in the contract that forced tenant to move out of the property. Landlord knew the property had existing city violations that were against zoning and safety for a tenant - but withheld that information to get the lease signed and let me and previous tenants walk into a property that wasn’t fit for use - a problem that was only occurring in the middle of the night with homeless people breaking in and was not inspectable during the day when potential tenants came to look at the property. I have plenty of evidence and wondering if it’s possible to counter sue landlord? submitted by /u/BandanaMindset [link] [comments]

For a retail building (Texas) that has just started construction, the broker representing the tenant. The lease is expected to be signed within the next two weeks, while construction is expected to be completed in approximately six months. In this situation, does the broker typically receive their commission immediately after the lease is signed, or after tenant deposit or only after the tenant takes occupancy of the property? Thank you. submitted by /u/passionforrealestate [link] [comments]

They told me that the credit union they wanted to use just told them no. I still have 3 weeks until their down money goes solid, and they're claiming that they're looking for other financing, and asking for an extension. But I'm doing the calendar math in my head and if they introduce themselves to a bank on Monday, and give them all of the paperwork, they're not going to be able to secure a commitment for what 30 -45 days? What's the best way to give them time to sort out their financing, but still allow me to market the place to other potential buyers? submitted by /u/ironicmirror [link] [comments]

I had a listing in 2023 and a prospect came looking at the Space with their agent for consideration for a special use. weeks later that client called me asking about another property I had a listing for, but she came herself unrepentanted. I then spent weeks going through due diligence exercises on space number two which did not work out due to Zoning issues. Then we got as far as a Lease draft for Space number three but the owners decided to give it to a cannabis Tenant who outbid us at the final hour - the landlord was working both deals at the same time. Then there was Space number four which fell through for whatever reason don’t even remember, and she later ended up leasing that space without me. One year later, she calls me back and we get to the LOI acceptance stage with space number five but then find out another Zoning constraint, which would not make this space feasible due to parking limitations so the deal was canceled. With this last space, the prospective client would not sign a Buyer rep and actually did a lot of negotiating directly with the Landlord bypassing both myself and the Landlord‘s Broker She is now reaching out to me, asking me about other locations but honestly, i feel a bit exhausted and not sure I want to continue working with this person. Is this a sign of a weakness I don’t think my Broker would ever consciously walk away from a client. For the sake of some annominity I’m not saying what the use is but it has lots of state requirements to be passed. submitted by /u/CarobSignificant1269 [link] [comments]

Hi All, commercial property owner in Texas here. I have a long-term tenant who wants to renew their lease. Here's the challenge - their lease currently has some unused land that I'd like to develop, which will require me to move their driveway and also possibly relocate some of their parking. The thing is I still have a ways to go with the pre-work (finish feasibility, architecture, site planning etc.) before I know for certain what can happen on the un-developed portion of the property and what it will end up looking like. At the moment, I am at least not going to have the lease as-is extended. Should I: (A) take the next year to finish the pre-work, change the lease (demised premises etc.), and then get into a contract with the tenant when I know more / have more certainty, OR (B) Is there a way, maybe by ways of an amendment, that I can retain the right to develop x portion of the property. This way the tenant knows they have a guaranteed lease in hand and continuity for their operations, and I can also do the necessary driveway etc. changes in peace. To me option A seems better because both I and the tenant aren't bound to anything without having all the as-is facts. Downside to A is my good long-term tenant may leave because I can't give them a lease now. Option B seems almost like I am asking for a blank check with respect to final layout of the property, which if I was the tenant I'd be hesitant to agree with. For that reason, I don't have a good feeling about it. Have you been in a situation like this? What did you do? Any other suggestions on how to approach this? Any other tips / pointers to keep in mind as I pursue this small development project with existing tenants? Thank you for your thoughts and insights!! submitted by /u/powerup759 [link] [comments]

It has been widely reported in the news that playing opera music outside. Your property works as a natural deterrent for homeless. Does anyone have a playlist or a set of songs that work for this? Interested in having a serious discussion here, please. https://www.kpbs.org/news/2023/04/14/why-are-san-diego-7-elevens-playing-opera submitted by /u/Moxie479 [link] [comments]

Now with 100% less Honobob's. submitted by /u/LordAshon [link] [comments]

Looking at some larger, older distribution buildings 32-35' clear. Is it doable to get it to 40' clear? Has anyone done this or bid it out for larger buildings (300k+)? Wondering what cost might be. I know structural etc is building specific but just rough idea ppsf. submitted by /u/Nightman233 [link] [comments]

Hi everyone I had a quick question re AtHome. What was so clear on the 10k that at home was going to file bankruptcy? What led you to that conclusion? submitted by /u/allstarpetar [link] [comments]

Hey all, (Mods do not take this down - no one ever responds in the discussion board) I’ve been a member of this sub for almost a decade now. I joined during my sophomore year of college when I landed my first internship in CRE. Well, it’s been a long road (one that always seems to get longer). I landed my dream job around 10 months ago working as a dev associate. At 29, I feel like I’m about 1–2 years behind where I’d like to be, but the path wasn’t always clear. Background: Industrial and office brokerage for 2–3 years (I also acted as a property manager during this time for a small office portfolio), residential redevelopment (small multifamily properties and homes), and I completed an MBA. I’m now 10 months into my role with a small regional developer (a 5-person team). My job requires me to wear about 17 different hats, and I love it. The experience I’m getting is unreal some days. If I had to break down my role, I’d say I do three main things: deal sourcing, project management, and investor relations. On the deal sourcing side, I’ve been assigned three markets, which I spend half my time either on the phone or traveling to in person (1–2 trips per month) to source land deals. It’s funny earlier in my career, I thought modeling was the challenging part, but once you have that down, sourcing the actual deal is the real headache (duh). It goes without saying that I also conduct and continually update all of our market research for the markets I cover. On the project management side, I’m currently pushing a smaller $20M project across the finish line toward closing. I’m responsible for various dd and precon items, including ordering surveys, title work, geotechnical reports, environmental studies, T&E, traffic studies, design reviews and revisions, lender vetting, attorney coordination, and more. Honestly, the list seems to go on forever, but I have yet to get bored. The investor relations side is probably the smallest portion of my job, but I’m building all of our OMs for deals and actively helping build relationships with more LPs and institutional investors that I have in my network. If you’ve read this far, I’m curious whether my comp is in-line, as compensation structures for roles like this vary quite a bit. Right now, I’m making $70k (which feels low); however I did not come from a traditional development background (I did not have true direct development experience which almost every job I was trying to land required). We currently have about a $120M pipeline across four projects. I’m getting amazing experience and exposure (my direct boss is the founder and has 30+ years of development experience with over a $1B track record), which is a huge plus. My title is development associate, but you could probably relabel it as several different things. I feel like a larger shop wouldn’t have hired me a year ago (applied to numerous other dev groups before this role), but compensation for a role like this feels like it should be closer to 110–130k. One of the main reasons I accepted a lower paying role is that they told me we would discuss receiving a share of the promoted interest around the middle to end of year 2. However, until that document is signed, it’s still just a dream. I currently have no plans to leave. I enjoy the role and the team, however the day may come sooner than later where I can retrade my comp structure. submitted by /u/Strivebetter [link] [comments]

Hello! I work for an architecture firm in the Boston area. I am doing some research on the current top office building amenities for employees in both suburban and urban settings. What amenities are getting you to the office, or what trends are you seeing? Any insight is appreciated. Thank you! submitted by /u/sbarbs12345 [link] [comments]

Hey guys, I'm an investment analyst working for a real estate fund. Most projects in our portfolio are ground-up development projects (single-family, townhouse, condo) in New York. I'm preparing the investment memo and would love to learn from you. What should I consider? What should I include in my memo? What are the differences between the one prepared for banks and the one prepared for investors? One main question I would love to ask: For the sources & uses section, should I write two separate slides listing sources & uses at acquisition and sources & uses for construction (I'm preparing this for a bank, but I'm not sure if that's needed)? For banks, what will you review when a developer applies for loans? submitted by /u/Neat-Ad-6002 [link] [comments]

The lease has a cognovit clause, and landlord wants to enforce a judgement after material breach in the contract that forced tenant to move out of the property. Landlord knew the property had existing city violations that were against zoning and safety for a tenant - but withheld that information to get the lease signed and let me and previous tenants walk into a property that wasn’t fit for use - a problem that was only occurring in the middle of the night with homeless people breaking in and was not inspectable during the day when potential tenants came to look at the property. I have plenty of evidence and wondering if it’s possible to counter sue landlord? submitted by /u/BandanaMindset [link] [comments]

For a retail building (Texas) that has just started construction, the broker representing the tenant. The lease is expected to be signed within the next two weeks, while construction is expected to be completed in approximately six months. In this situation, does the broker typically receive their commission immediately after the lease is signed, or after tenant deposit or only after the tenant takes occupancy of the property? Thank you. submitted by /u/passionforrealestate [link] [comments]

They told me that the credit union they wanted to use just told them no. I still have 3 weeks until their down money goes solid, and they're claiming that they're looking for other financing, and asking for an extension. But I'm doing the calendar math in my head and if they introduce themselves to a bank on Monday, and give them all of the paperwork, they're not going to be able to secure a commitment for what 30 -45 days? What's the best way to give them time to sort out their financing, but still allow me to market the place to other potential buyers? submitted by /u/ironicmirror [link] [comments]

I had a listing in 2023 and a prospect came looking at the Space with their agent for consideration for a special use. weeks later that client called me asking about another property I had a listing for, but she came herself unrepentanted. I then spent weeks going through due diligence exercises on space number two which did not work out due to Zoning issues. Then we got as far as a Lease draft for Space number three but the owners decided to give it to a cannabis Tenant who outbid us at the final hour - the landlord was working both deals at the same time. Then there was Space number four which fell through for whatever reason don’t even remember, and she later ended up leasing that space without me. One year later, she calls me back and we get to the LOI acceptance stage with space number five but then find out another Zoning constraint, which would not make this space feasible due to parking limitations so the deal was canceled. With this last space, the prospective client would not sign a Buyer rep and actually did a lot of negotiating directly with the Landlord bypassing both myself and the Landlord‘s Broker She is now reaching out to me, asking me about other locations but honestly, i feel a bit exhausted and not sure I want to continue working with this person. Is this a sign of a weakness I don’t think my Broker would ever consciously walk away from a client. For the sake of some annominity I’m not saying what the use is but it has lots of state requirements to be passed. submitted by /u/CarobSignificant1269 [link] [comments]

Hi All, commercial property owner in Texas here. I have a long-term tenant who wants to renew their lease. Here's the challenge - their lease currently has some unused land that I'd like to develop, which will require me to move their driveway and also possibly relocate some of their parking. The thing is I still have a ways to go with the pre-work (finish feasibility, architecture, site planning etc.) before I know for certain what can happen on the un-developed portion of the property and what it will end up looking like. At the moment, I am at least not going to have the lease as-is extended. Should I: (A) take the next year to finish the pre-work, change the lease (demised premises etc.), and then get into a contract with the tenant when I know more / have more certainty, OR (B) Is there a way, maybe by ways of an amendment, that I can retain the right to develop x portion of the property. This way the tenant knows they have a guaranteed lease in hand and continuity for their operations, and I can also do the necessary driveway etc. changes in peace. To me option A seems better because both I and the tenant aren't bound to anything without having all the as-is facts. Downside to A is my good long-term tenant may leave because I can't give them a lease now. Option B seems almost like I am asking for a blank check with respect to final layout of the property, which if I was the tenant I'd be hesitant to agree with. For that reason, I don't have a good feeling about it. Have you been in a situation like this? What did you do? Any other suggestions on how to approach this? Any other tips / pointers to keep in mind as I pursue this small development project with existing tenants? Thank you for your thoughts and insights!! submitted by /u/powerup759 [link] [comments]

It has been widely reported in the news that playing opera music outside. Your property works as a natural deterrent for homeless. Does anyone have a playlist or a set of songs that work for this? Interested in having a serious discussion here, please. https://www.kpbs.org/news/2023/04/14/why-are-san-diego-7-elevens-playing-opera submitted by /u/Moxie479 [link] [comments]

Now with 100% less Honobob's. submitted by /u/LordAshon [link] [comments]

Looking at some larger, older distribution buildings 32-35' clear. Is it doable to get it to 40' clear? Has anyone done this or bid it out for larger buildings (300k+)? Wondering what cost might be. I know structural etc is building specific but just rough idea ppsf. submitted by /u/Nightman233 [link] [comments]