Commercial Real Estate
Consistently in demonstrating expertise, experience, excellence, our associates are driven to excel
Our Commercial Division specializes in several business lines such as: development sites, condo offices, condo retail, income producing properties, triple net leases, shopping centers, marinas, office buildings, hotels, industrial and agricultural sites, warehouses, business brokerage (M&A). TERRY & TERRY Co. uses Costar and LoopNet, which are the most advance online listing systems for commercial real estate.
In addition, TERRY & TERRY Co. has the ability of structuring transactions taking into consideration legal, accounting and immigration issues due to partnerships with specialists in those specific fields.
TERRY & TERRY CO offers professional representation services designed to promote our clients’ best interests whether leasing or buying commercial & residential real estate. Our specific goal is to add value to the transaction by saving time and money and to assure the very best property is acquired at the lowest cost. The following is a brief summary of our approach to tenant/buyer representation.
Planning – Before a facilities plan can be formulated, a thorough review of the existing lease or ownership situation is imperative. Important dates are identified to verify that all parties are aware of existing options, notice provisions and obligations. Economic benchmarks are established to compare future relocation, lease renewal and acquisition terms.
Market Review and Evaluation – With the organization’s goals and objectives in mind, we develop a list of the most suitable options and the advantages and limitations of each. Pertinent industry trends including vacancy rates, new construction, supply/demand, recent sales and other market information is compiled and analyzed. Facility/property tours are conducted and the preferred options are “short listed.”
Comparative and Financial Analysis – We compare the costs associated with each option over the life of the lease or acquisition in several ways: monthly/annual expense, rent escalations, operating expenses and real estate taxes. We calculate the present value of each option and if appropriate, we will prepare a lease versus own comparison. A detailed summary is developed, highlighting key economic and non-economic concerns. Specific client concerns are also incorporated.
Historical Transactions – Real estate consultants are only as good as the information they provide and successful transactions are guided by accurate market information. Years of experience, relationships, and volume of transactions creates this strong market information. This helps make the most informed decision, and enables us to negotiate the best possible terms.
Letter of Intent – After several rounds of negotiations among competing sites, the preferred building and/or property is selected and letter of intent terms are negotiated. During this phase, we solidify key business and legal issues, and lay the groundwork for smooth lease or purchase negotiations. Since this is the foundation for the final agreement, we take extra care to incorporate important provisions.
Document Review – The lease or purchase agreement is reviewed and negotiated to verify consistency with the Letter of Intent. The primary goal of this phase is to protect our clients’ interests by identifying problematic provisions. We strongly recommend document review by competent legal counsel during this phase before signing a lease or sales contract.
Today, more than ever, customers demand trusted allies who demonstrate ingenuity and resourcefulness. We recognize that “Time is Money” and we tailor marketing and “property positioning” programs specific to each project and customer’s needs.