When a property owner makes a decision to sell it is not unique to begin what I call a “two step” conversation to achieve their goal. To simply put a price tag on a property without first evaluating the current tenant and their leases is short sighted.
The July/August 2014 issue of Commercial Investment Real Estate, the Magazine of CCIM Institute, includes an article entitled: “Lease to Sell” by Jamie Swanson a director of Franklin Street which is a full service real estate firm serving the southeast.
The point is made that preparation for the sale must be developed well in advance with efforts to:
• Determine tenant mix
• Attract best-in-class tenants
• Integrate leasing into sales strategy
• Establish realistic market rates and lease structures
• Determine what improvements and deferred maintenance is needed.
To read the full article click HERE.
As always, your property is unique and our market is unique. Your time would be well spent with a commercial real estate specialist to evaluate and achieve your long term goals.
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 13 years experience in the commercial and industrial real estate business and 14 years experience in commercial and industrial warehouse design and sale of handling equipment. His specializations include commercial and industrial development, brokerage, and leasing, as well as lease negotiations and tenant build outs.
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, president of the Capitol SERTOMA Club of Baton Rouge, member of the Cadets of the Ole War Skule, and an alumnus of Omicron Delta Kappa (OΔK).
Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Growth Coalition; 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).