Commercial space, underwritten.

A commercial lease is a business decision that lasts five or ten years, so the asking rate is only the beginning. I compare spaces on total occupancy cost: base rent, NNN or operating expenses, tenant improvement allowance, free rent, escalations and the build-out you will actually need. My background in construction helps here, because I can tell when a TI allowance won't cover the space you are picturing.

For buyers and investors, I look at the lease roll, tenant quality, deferred maintenance and what the property would cost to replace. For development and build-to-suit, I help with land search, zoning questions and the team you will need.