Knowing the Lease” is of the highest importance for both Landlords and Tenants. This is the title of the Commercial Investment Real Estate magazine November/December article.
Often there is a grave misunderstanding of the basic terms of a lease and the impact of the expenses. As always, “the devil in the details” could not be of greater consequence than in the details of a lease. The term “Modified Gross” can be an opened statement of terms.
The article by Gregory Laskody, CCIM offers both a basic definition of lease terms but also an example of Expense Responsibilities impact of the total cost of a lease. Certainly, specific expenses will vary with an individual property but the example given offers insight useful to local tenants and landlords.
Written by By Gregory J. Laskody, CCIM for CIRE Magazine | Nov.Dec.19 issue
Knowing the Lease
Understanding who is paying for what can help improve communication between real estate pros and clients.
Commercial real estate has a jargon all its own, with plenty of acronyms and abbreviations. But considering such vast differences in geographical markets and industry sectors, meanings can change and differ from, for example, the retail market in South Florida compared to the industrial sector in the Inland Empire area of California.
Bill Jeansonne, a native of Alexandria, Louisiana, received both his undergraduate degree and master’s in business administration (MBA) from Louisiana State University (LSU). Bill has 19 years experience in the commercial and industrial real estate business and 14 years experience in commercial/industrial warehouse design and sale of handling equipment. His specializations include commercial and industrial development, brokerage, and leasing, as well as lease negotiations.
A Designee member of the Certified Commercial Investment Member Institute (CCIM), Bill’s professional memberships include Baton Rouge’s Commercial Investment Division (CID), the LSU MBA Alumni Association, a founding member of the board of managers for the Louisiana Commercial Data Base (LACDB), a member of Louisiana REALTORS® (LR), a member of the National Association of REALTORS® (NAR), and a member of the International Council of Shopping Centers (ICSC). Bill has also served as a president of CID, a chairman of the CID Trends Program, a chairman of the LSU MBA Alumni Association Louisiana Looking Up Program, and on the Baton Rouge Area Chamber (BRAC) Trends committee. His current civic affiliations and past service include board chairman of the Baton Rouge Speech and Hearing Foundation and president of the Capitol SERTOMA Club of Baton Rouge. He is currently a member of the Cadets of the Ole War Skule, an alumnus of Omicron Delta Kappa (OΔK), and a member of the Lakeshore Lions Club.
Saurage Rotenberg Commercial Real Estate, LLC is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).