COVID-19 changed just about everything, the way we shop, socialize, travel and work. In many instances, the changes are readily discernible and quite…. [RE: Investment and management strategy during the coronavirus pandemic and beyond. The valuation of commercial real estate portfolios, assets and publicly-traded as well as privately-owned enterprises – is greatly impacted by the commercial real estate leases involved.] Read more > https://www.globest.com/2020/08/19/the-evolution-of-lease-negotiation/?slreturn=20200815121907
Randy Airst, CEO at Exceedant, is interviewed by a Podcast Host at the Institute of Real Estate Management (IREM). Mr. Airst discusses merit-based negotiation, objective criteria, BATNA, and more for negotiating commercial and retail leases during this time of uncertainty. RE: Commercial real estate investment strategy, management and more. Listen with the link below. https://podcasts.apple.com/us/podcast/commercial-lease-negotiation/id1505871571?i=1000475926700
Article written by EXCEEDANT Team RE: COVID-19 Investment Strategy in the Hospitality and Commercial Real Estate Industries, Retail Sector. How their interests collide. https://www.qsrmagazine.com/outside-insights/how-restaurants-can-collaborate-landlords-secure-rent-relief
We are increasingly familiar with how to safeguard our health. What about our business interests, specifically real estate interests? Zillow provides interesting lessons. Zillow will seek to cancel iBuyer purchase contracts in a humane way, believing that COVID-19 constitutes a Material Adverse Change. Zillow will evaluate on a case-by-case basis. Zillow anticipates using financial incentives to extricate themselves. Lesson 1. Zillow is thoroughly familiar with its legal rights and responsibilities.… Read More »How Zillow Maintains Control in Uncertain Times
Retail Lease Restructuring: Occupier Hierarchy of Needs Collect Lease Docs/Review. Review Lease Provisions Relevant to COVID-19, e.g., force majeure, co-tenancy, go dark, kickout clause, early termination rights. Tabulate financial obligations, including but not limited to those stemming directly from the lease, e.g., wages, suppliers, Minimum Base Rent, Additional Rent, Percentage Rent, Real Estate Taxes. Ascertain corporate as well as personal exposure to liability as well as barriers to such liability,… Read More »Retail Lease Restructuring (COVID-19): Heirarchy of Needs
Hope you and your loved ones are well. Of course, our primary concern has to be with the health and welfare of family, friends, co-workers and customers. Once you’re doing everything within your control on health and safety issues, it is important to try and protect your business interests. This applies to landlords, tenants and their lenders. The Interests of Landlords, Tenants and Lenders are Intertwined Regardless of whether you’re… Read More »COVID-19 Update: Difficult Discussions About Rent and Other Commercial Lease Issues
Retail landlords and tenants are experiencing unprecedented problems due to COVID-19. In many instances non-essential retailers have been required to shutter, part of the social distancing implemented to slow the spread of COVID-19. For example, New Jersey Governor Phil Murphy has required that all indoor shopping malls in the state close, as the government continues efforts to slow the spread of COVID-19. Jurisdictions such as San Francisco promulgated shelter-in place… Read More »Should Retail Landlords Restructure Leases to Provide Relief from COVID-19?
Although physically intangible, and not yet recognized on balance sheets, your data has value. Dubious? A broad spectrum of businesses and professionals recognize the value of your data, including real estate agents and brokers. That is why they often buy leads. Moreover, just like real estate, the value of raw data can be enhanced. For example, companies like RedFin, OpCity/realtor.com and Zillow charge 30 – 35% (+/-) of the ensuing… Read More »Does Your Data Have Value?
Are Zillow’s Interests Now More Closely With Agents? Zillow is undergoing some dramatic changes. We will briefly examine two such changes, seeking to determine whether they have brought Zillow’s interests and those of its Premier Agents into closer alignment. First Change – Best of Zillow The first change we will discuss is the roll out of the Best of Zillow badge, through which Zillow recognizes the top Premier Agents. To… Read More »Are Zillow’s and Its Premier Agents’ Interests Becoming More Closely Aligned?
Is there any Justification for Valuing WeWork’s Leased Space at $1,000 Per Square Foot? WeWork (new name: The We Company) leases spaces from some very sophisticated landlords including TIAA-CREF, Boston Properties, Beacon Capital Partners and Moinian Group. In theory, WeWork has a simple business model, leasing office space and then subleasing the space to businesses ranging from start-ups to Fortune 500 companies. A substantial part of the business model is… Read More »WeWork Watch – Event Driven (IPO)