Commercial Real Estate
The State of Florida is growing. The economic and political climate around the world is causing people to recognize Florida as one of the safest and least encumbered places to live and conduct business in the world. Florida has always been a magnet for international real estate investments, both commercial and residential. When business leaders from around the world visit Florida they leave the state with a desire to create a more permanent presence here by developing relationships with Florida’s business community. This bright, uplifting sentiment manifests itself as business migration which always means the acquisition, whether freehold or leasehold, of commercial real estate. Florida’s positive political, economic and social image in the minds of Americans currently living and doing business outside the State of Florida, as well as foreign nationals seeking a stronger presence in Florida, stokes commercial and residential property values. It is all about supply, demand and available financing. Population densities are rising in Florida and that is good for both commercial and residential property values.
LAM is committed to selling or leasing your commercial property at the highest possible price, in a reasonable time period, and with as little inconvenience to you as is absolutely necessary. The purchase price is determined by a wide variety of variables. Ingress, egress, traffic counts, lineal frontage feet on the road, signage opportunities, visibility, access to roadways, demographics and the functionality of the property are a few of the factors affecting value. Every buyer has different wants and needs. LAM will maximize the value of your business and the value of your real estate by applying the techniques outlined above and a strong state and local networking program. Daylight is burning! Let’s get started.
Negotiation skills are an important factor you should weigh and consider when you are choosing a commercial real estate broker. Negotiation skills are hard to teach because a person’s worldview and the mindset with which a person interprets and responds to stimulus determines how a broker or agent will react to both positive and negative developments in the negotiation and transaction management processes. It is always beneficial to have the best listener on your side. Listening to you, listening to prospective buyers and listening to cooperating brokers is essential to bringing real estate transactions to closing. LAM insists that all team members are excellent listeners and possess the experience, mindset and patience required to allow the transaction variables to line up in your favor. It is surprising how often a prospect will volunteer to give you what you want if your team is willing to listen and wait for the prospect to commit to your terms. Even though it sounds simple, listening and patience are important personal character traits for effective real estate brokers and agents. Negotiating skills are taken seriously at LAM.
A broker’s availability is important. Although most business people, including much of the commercial real estate community, mentally default to the 9am to 4pm workday mindset, a broker’s availability is more impactful on the transaction’s outcome than most people think. Over the years the world’s demand for immediate gratification has increased tremendously. As technology replaces many job descriptions it has not yet discovered a way to, safely and securely, show property that is available for sale or rent. Pictures and video are great but most buyers still want to kick the tires. LAM is dedicated and committed to being available when buyers want to perform site inspections. Site inspections are another very important component to the value proposition offered by commercial real estate brokers. Some things never go out of style.
Commercial real estate is our passion at LAM. Hospitality properties are particularly gratifying to work on. LAM brokers and agents love hotels and restaurants. Entertainment is also hot here at LAM. A recent visit to an “Escape Room” revealed an excellent use of low demand/high supply commercial lease space. As work is more frequently performed from home and retail products are more frequently purchased online, with delivery chosen over in person pickup options, office and retail landlords are challenged to be more creative in the area of tenant mix. Escape Rooms consume a lot of square footage and also generate high revenue per square foot income streams. An Escape Room entertainment complex could be your next anchor tenant. Contact LAM for more information.
Commercial property management is LAM’s specialty. The overarching objective, on behalf of landlords, is to maximize the price per square foot of available lease space and occupancy, simultaneously. Strategic management of the lease period when selecting new tenants is crucial to effective rate and inventory management. The tenant screening process plays another key role in achieving both rate and occupancy objectives. Successful tenant screening results in lease compliance and avoids breach of contract possibilities and ultimately evictions. When prospective tenants apply to lease commercial space it is important to verify that the tenant has sufficient cash reserves to carry the tenant through the startup period. Early positive cash flow is critical to small businesses success, whether embarking on the first location or expanding into a multiunit operation. Managing hotels, restaurants, commercial and residential property management operations and real estate brokerage firms for more than forty years gives the LAM management team extensive experience and insight into the creditworthiness of commercial tenants. Please contact LAM when you are considering hiring a commercial property management company.