2D — January 2023 Forecast — M id A tlantic Real Estate Journal
www.marej.com
2023 F orecast
here do Industrial Real Estate deci- sionmakers need By Howard Applebaum, Corporate America Realty & Advisors (“CARA”) Tips, Q&A, Logic and Reasoning for brokers in pitching tenants, and buyers W
hundreds of results that are difficult to digest. The information in several re- sults may also be inac- curate, outdated, or used only for generating leads. Some websites use paywalls and “push” their premium paid advertised spaces. It can take dozens of hours of traveling around areas and neighborhoods to search for leasing signs only to have agents on them not return a message. Perhaps the property is un- available, or the agent is no lon-
ger involved with exclusively marketing the property? Pitching Save Time . . . and Money! If you place a dollar value on your time, a property search for the right space can be costly. You need to find and interview Industrial Real Estate Brokers in your Market that specialize in Industrial Real Estate and do all or most of their work only representing tenants or buyers in the acquisition or disposition of Industrial Real Estate. The experienced and market-savvy “pro” should understand your
property specifications and have resources available to as- sist with logistics, construction, legal, financing, etc., to provide the right type of space/proper- ties along with knowing “real market opportunities.” Before deciding whether you should go into the Industrial Real Estate Market by yourself or with an inexperienced bro- ker, there are additional ques- tions to ask and get answers to before moving forward. Am I paying a fee or the real estate commission for having an “Exclusive Licensed Tenant
or Buyer representative work on my behalf with my require- ment? The tenant or buyer representative’s real estate commission is almost always a landlord’s or seller’s expense. Would an inexperienced bro- ker be an expert on building availabilities in the Market or know about other tenant(s) and buyer(s) activities seek- ing similar type properties in the Market? Besides knowing the current availabilities in the Market, the experienced and Market savvy professional Tenant or Buyer Representative will make you aware of future buildings or development projects that will be available. Your time will not be wast- ed contacting various listing agents and their offices to learn about their availabilities. Pre-inspections of interesting listings and properties are part of the functions that your exclusive tenant and buyer representative should do. Bring up Leases and Contracts Industrial leases or purchase contracts are often complex documents. Much of the leasing or purchase language contained in the documents may be for- eign to you but probably not to a knowledgeable, experienced, and licensed tenant or buyer representative/broker. An engaged exclusive tenant or buyer broker should be able to review and provide an opin- ion about the prepared lease or purchase agreement. The representative may be able to find that the document may contain legal material/jargon in it, along with numerous seemingly minute details, that should not have been put into the document(s). While tenant and buyer rep- resentatives are not attorneys, their market knowledge and ex- pertise are a great resource in creating leverage to have when going up against the landlord’s exclusive marketing agent, the landlord’s attorney, or even in direct discussions with the property owner. You need to be careful if your search for space, buildings, sites, or even if a decision has been made to renew your cur- rent facility. The entire real estate pro- cess may be like trying to ma- neuver your way through an unmapped business and legal minefield. The results could continued on page 4D
to go when they need warehouse s p a c e ? The word “Warehouse Space for rent in Edi- son, New J e r s e y ” can eas- ily be used
Howard Applebaum
in Google. However, the feedback might produce
About Corporate America Realty & Advisors
New Jersey based Corporate America Realty & Advisors (“CARA”) was first established in 1984. “CARA” is an industrial real estate brokerage that specializes in exclusive tenant/buyer representation services for companies, institutions, and select individual investors who seek to acquire or dispose of industrial properties. The Company is New Jersey based and “National in scope”.
To learn more about CARA, please visit www.corporate-america.com P: 201-507-5700 h.applebaum@corporate-america.com
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