By Steven Silverman Blog • Commercial Property For Sale • Office Market Tampa • • 0 Comments

Brandon Bv – Professional Office And Retail Space For Lease – 1076 E Brandon Bv

[portfolio_slideshow id=3195 autoplay=true pagerpos=disabled]

Description

Address: 1076 E Brandon Bv, Brandon, FL 33511       

Summary: Terrific Professional Office and Retail space for lease. On Brandon Bv  next to Walmart close to Mt Carmel. The owner brought in a group of superb home inspectors in houston tx to inspect the property thoroughly. For details, Click Link to view brochure

 

  • Spaces 1,100-5,900 sf
  • Great intro rate on selected spaces with multi year lease
  • Between a professional office park and Walmart.
Property Information
Price: $9/sf – *intro. Cam $4.50
Size: 1,200-5,900 sf
Use  Medical, Prof Office, Retail
Location:  Brandon/Valrico
Frontage: On Brandon Bv
Stories:  2 – Elevator Building

View this property brochure; Click Here

By Steven Silverman Commercial Real Estate Tampa • Market • • • 0 Comments

Leasing Tips for Tenants Negotiating a Lease– Part 2

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officeLeasing  Tips for Tenants Negotiating a Lease– Part 2
In the broad  terms a tenant is concerned about
• annual lease cost  and
• lease term and terms.
Leases usually favor the landlord, but  within the above  two key parameters there are negotiation points all along the way for a tenant to try and gain some advantage
The Lease Term and Lease Terms
Leases usually favor the landlord, but  within the above  two key parameters there are negotiation points all along the way for a tenant to try and gain some advantage
In Part 1 we explored the annual lease cost. In this section we will explore  the Lease Term and Terms
To negotiate with a Landlord you have to think like a Landlord. Understand what is important to a Landlord and turn this to your advantage.
At some point a Landlord will want to refinance or sell his property. One method a Lender or a purchaser will surely use to  value the property is according to the Capitaliztion Rate formula.
PRICE = NET OPERATING INCOME ÷ CAP RATE
The Cap Rate will be a market derived rate. Therefore to maximize the property value the Landlord will want to demonstrate with signed leases, the highest possible Net Operating Income. A higher NOI will give the property a higher value. Understanding that the property valuation is a motivating factor for the Landlord can help you negotiate more favorably with the Landlord
It is so important for the Tenant to study the market and know what is going on. Look at lots of spaces. If the market supply of space is greater than demand then the Tenant has more negotiating room.
FREE RENT AND IMPROVEMENTS
As a Tenant you are concerned with your total lease cost, at least in the short term. For a fledgling company low start up costs may be even more important for the tenant. Therefore, as a negotiation tactic the Tenant may choose to give the Landlord his higher lease rate so that the Landlords property value is enhanced (see Cap Rate formula), but as the Tenant, you can get it all back plus more in concessions such as free rent, tenant Build-out by the Landlord or a Tenant Improvement Allowance. As a tenant, it may make little difference how the cost are apportioned as long as you get the lowest overall cost. To the Landlord seeking a higher rent roll, it may make a lot of difference.
LEASE TERM
A Tenant and Landlord may have conflicting needs on the term of  the lease. The tenant could desire a short lease term while the Landlord may want a longer lease term. Everything is negotiable. The tenant can try to negotiate a short lease term with several renewal options. There is no law that each option must be accompanied by a rent increase. It is a negotiation.
Again, going back to the Cap Rate formula to value the property. A Landlord that is able to demonstrate to the Lender or a Purchaser, a stable future stream of Net Operating Income will have a higher value for his property. This stability is supported by the rent roll. Understanding the Landlords need for a longer lease term, the Tenant may be able to extract larger concessions from the Landlord, especially if the tenant is can demonstrate that they are financially a quality tenant.
OTHER LEASE TERMS
The Lease is a binding contract and the Tenant has a liability and a duty to perform. There are several lease terms that the Tenant can look at to reduce his overall risk
Space Size Change
The Tenant may be concerned that he will outgrow his space before the lease term ends. One industrial tenant of mine specified that I had to find him a lease with Landlord who owned a lot of space. Then the Tenant wrote in the Lease that should he need more space, the Landlord will agree to upgrade him to a larger space in the same or another similar building owned by the landlord without penalty. As a tenant you could take this a step further. Perhaps you are concerned that the space will turn out to be too large. You could write into the Lease that if after a specified period, if you find the space too large, you can downgrade into a smaller space owned by the Landlord without penalty.
Subleasing
Business can be unpredictable. The ability to sublet could help the Tenant survive if times became difficult. Or subletting could be an additional source of revenue if the Tenant has extra space
Personal Guaranty
Many Landlords will demand a personal guaranty on the lease. From their point of view they don’t know the Tenant and they want the comfort level that they have a viable lease. As a Tenant you could try to get them to meet you half way. Perhaps you could negotiate that the personal guaranty terminates after two years, or declines annually to become zero after 5 years. At that point the Landlord may have more of a comfort level with the Tenant.
Landlord Performance
In most leases the Landlord is demanding a lot from the Tenant. However, the Tenant can also negotiate Landlord performance benchmarks in the Lease. If the Landlord does not perform, the lease is less valuable to the Tenant and the Lease rate decrease
Co-Tenancy – In many retail spaces the Anchor tenant is the main draw to the shopping center. The Tenant may negotiate a clause that if the Anchor is not replaced by another anchor of equal stature within a specified period, the Tenant my terminate the lease or be entitled to a rent reduction
Occupancy – The attraction of a particular space may be the high occupancy and traffic. The tenant may negotiate a rent reduction if the occupancy of the Center falls below a certain level.
Exclusivity: Before the lease is signed the Tenant will find the Landlord much more amenable to inserting a non-compete clause into the lease preventing a competitor leasing in the same center. After the lease is signed?………. Good luck
Quality of Tenant – Do everything you can to provide your Landlord with information about you and your company. A Landlord that feels he has a quality tenant will be more likely to negotiate more favorable terms. Don’t come off like Atilla the Hun and strong arm the Landlord during negotiations. Presumably you will be living with the Landlord for a Long time and the Landlord is conscious of this. Develop a cordial and respectful relationship.
A knowledgeable Broker can be of enormous help to the Tenant. The Tenant needs to gather a lot of information to understand the market and strategize his lease deal. A specialized real estate attorney should also be part of the equation. Do your homework to find qualified professionals that will work for you and will help you negotiate the most favorable lease deal

LEASING TIPS FOR TENANTS NEGOTIATING A LEASE – PART 2

In the broad  terms a tenant is concerned about

• Annual lease cost  and

• Lease term and terms.

Leases usually favor the landlord, but  within the above  two key parameters there are negotiation points all along the way for a tenant to try and gain some advantage. In Part 1 we explored the Annual Lease Cost. In this section we will explore  the Lease Term and lease Terms that can be beneficial to the Tenant

THE LEASE TERM AND LEASE TERMS

To negotiate with a Landlord you have to think like a Landlord. Understand what is important to a Landlord and turn this to your advantage.

At some point a Landlord will want to refinance or sell his property. The Property value will be calculated from the leases in place, using the Capitaliztion Rate formula.

PROPERTY VALUE = NET OPERATING INCOME ÷ CAP RATE

The Cap Rate will be a market derived rate which is obtained from sales of similar properties. The Landlord cannot do much about the denominator in this equation. He can only influence the numerator. To maximize the property value the Landlord will want to demonstrate with signed leases, the highest possible Net Operating Income. A higher NOI as the numerator will give the property a higher value. Understanding that the property valuation is a motivating factor for the Landlord can help you negotiate more favorably with the Landlord

It is so important for the Tenant to study the market and know what is going on in the market. Look at lots of spaces. If the market supply of space is greater than demand then the Tenant has more negotiating room.

FREE RENT AND IMPROVEMENTS

As a Tenant you are concerned with your total lease cost, at least in the short term. For a fledgling company low start up costs may be even more important for the tenant. Therefore, as a negotiation tactic the Tenant may choose to give the Landlord his higher lease rate so that the Landlords property value is enhanced (see Cap Rate formula), but as the Tenant, you can get it all back plus more in concessions such as free rent, tenant Build-out by the Landlord or a Tenant Improvement Allowance. As a tenant, it may make little difference how the cost are apportioned as long as you get the lowest overall cost. To the Landlord seeking a higher rent roll (as  determined by the Cap Rate formula, how the costs are broken down may make a lot of difference.

LEASE TERM

A Tenant and Landlord may have conflicting needs on the term of  the lease. The tenant could desire a short lease term while the Landlord may want a longer lease term. Everything is negotiable. The tenant can try to negotiate a short lease term with several renewal options. There is no law that each option must be accompanied by a rent increase. It is a negotiation.

Again, going back to the Cap Rate formula to value the property. A Landlord that is able to demonstrate to the Lender or a Purchaser, a stable future stream of Net Operating Income will have a higher value for his property. This stability is supported by the rent roll. Understanding the Landlords need for a longer lease term, the Tenant may be able to extract larger concessions from the Landlord, especially if the tenant is can demonstrate that they are financially a quality tenant.

OTHER LEASE TERMS

The Lease is a binding contract and the Tenant has a liability and a duty to perform. Any commitment always has an element of risk. There are several lease terms that the Tenant can look at to reduce his overall risk

Space Size Change

The Tenant may be concerned that he will outgrow his space before the lease term ends. One industrial tenant of mine specified that I had to find him a lease with Landlord who owned a lot of space. Then the Tenant wrote in the Lease that should he need more space, the Landlord will agree to upgrade him to a larger space in the same or another similar building owned by the landlord without penalty. As a tenant you could take this a step further. Perhaps you are concerned that the space will turn out to be too large. You could write into the Lease that if after a specified period, if you find the space too large, you can downgrade into a smaller space owned by the Landlord without penalty.

Subleasing

Business can be unpredictable. The ability to sublet could help the Tenant survive if times became difficult. Or subletting could be an additional source of revenue if the Tenant has extra space

Personal Guaranty

Many Landlords will demand a personal guaranty on the lease. From their point of view they don’t know the Tenant and they want the comfort level that they have a viable lease. As a Tenant you could try to get them to meet you half way. Perhaps you could negotiate that the personal guaranty terminates after two years, or declines annually to become zero after 5 years. At that point the Landlord may have more of a comfort level with the Tenant.

Landlord Performance

In most leases the Landlord is demanding a lot from the Tenant. However, the Tenant can also negotiate Landlord performance benchmarks in the Lease. If the Landlord does not perform, the lease is less valuable to the Tenant and the Lease rate decrease

Co-Tenancy – In many retail spaces the Anchor tenant is the main draw to the shopping center. The Tenant may negotiate a clause that if the Anchor is not replaced by another anchor of equal stature within a specified period, the Tenant my terminate the lease or be entitled to a rent reduction

Occupancy – The attraction of a particular space may be the high occupancy and traffic. The tenant may negotiate a rent reduction if the occupancy of the Center falls below a certain level.

Exclusivity: Before the lease is signed the Tenant will find the Landlord much more amenable to inserting a non-compete clause into the lease preventing a competitor leasing in the same center. After the lease is signed?………. Good luck

Quality of Tenant – Do everything you can to provide your Landlord with information about you and your company. A Landlord that feels he has a quality tenant with less chance of defult will be more likely to negotiate more favorable terms.

Manners: Don’t come off like Atilla the Hun and strong arm the Landlord during negotiations. Presumably you will be living with the Landlord for a Long time. There is no point to winning the battle and losing the war. Develop a cordial and respectful relationship.

A knowledgeable Broker can be of enormous help to the Tenant. The Tenant needs to gather a lot of information to understand the market and strategize his lease deal. A specialized real estate attorney should also be part of the equation. Do your homework to find qualified professionals that will work for you and will help you negotiate the most favorable lease deal.

The purpose of this blog is to share information on questions that I have answered or information I have given to my commercial real estate clients in the Tampa Bay, FL area. I hope that others may find the information useful.

Steven Silverman, CCIM is the broker at Tampa Commercial Real Estate, a commercial real estate brokerage firm based in Tampa, FL. Please contact us if you are looking to purchase, sell or lease commercial property in the Tampa Bay area.

email: Steven@TampaCommercialRealEstate.com.

WebSite: www.TampaCommercialRealestate.com

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By Steven Silverman Commercial Real Estate Tampa • Market • 0 Comments

Tips For Tenants Negotiating A Lease– Part 1

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Tips For Tenants Negotiating A Lease– Part 1
The Annual Cost of the Lease
In the broad  terms a tenant is concerned about
• annual lease cost  and
• lease term.
Leases usually favor the landlord, but  within the above  two key parameters there are negotiation points all along the way for a tenant to try and gain some advantage
In this section we will explore  the Annual Lease Cost
The total annual lease cost rent is the sum of the rent and the expenses. Lets examine each component
a) Lease Rate: The lease rate component is fairly straightforward . It is usually quoted as an annual rate of $ per square foot. In some shopping centers retail tenants have percentage leases where the Tenants pay a percentage of their gross sales plus an agreed base rent per square foot. Obviously, the retail tenant will want to consider how best to balance the base rate and percentage rent. If the tenant anticipates a high sales volume per square foot, it is better to negotiate a lower percentage rent and pay a little more on the base rent. Of course, the opposite  is true if the tenant expects a low sales volume per square foot. It is not always easy negotiating  this with mega landlords who may not be that flexible, but his depends on the market.
Since the  lease rate is quoted in terms of dollars per sf, both the dollars and the square foot part should be examined. All too often the tenant simply accepts what the landlord is quoting.  You would be surprised how often the landlord has the square footage of the space incorrect. How can something so simple be incorrect? The space could have been reconfigured by prior tenants. The space SF is often measured incorrectly. Two different people may both measure and come up with a different total SF.  I have seen this work to the tenants advantage where the lease rate/sf is agreed and the lease is signed. Then the tenant has the space measured by a professional using BOMA standards. If it turns out that the SF is less than quoted, the tenant goes back to the Landlord and with the actual SF and effectively reduces the annual dollar rent. See my article on BOMA standards
b) Expenses:
(i) General Property Expenses: Lease can vary from Triple Net Leases (NNN) where the tenant is responsible for the taxes, insurance and maintenance to Gross Lease . These expenses are often called common area maintenance (CAM). In a Gross Lease the landlord generally pays the taxes, insurance and maintenance. In a Modified Gross Lease the tenant and landlord each pay a portion of the CAM. The tenant must be sure that he understands the type of lease he has and that he is on the same page as the Landlord in defining these expenses. Some brokers define a Full Service Lease as a Gross Lease that includes utilities, others use the term Full Service Lease as a synonym for a Gross Lease.  Understand exactly what costs you as a Tenant will be responsible for. The Tenant should ask for an explanation of the components of the CAM cost. Sometimes the CAM component is based on estimated expenses. These should be adjusted at year end and the tenant should be entitled to see an accounting. Look for expense escalation clauses, even in a gross lease. The landlord may define the first year as a base year and not charge expenses, but in year 2 if some property expenses increase, the tenant is surprised to receive a bill for the increase over the base.
(ii) Tenant Space Expenses: A tenant may agree in the lease to be responsible for certain expenses of the individual space, such as Heating, Ventilation and Air Conditioning (HVAC). The equipment should be checked before occupancy. Some tenants just don’t bother. The air conditioning may seem fine but a 15 year old system that has not been well maintained represents a huge cost.  Similarly for plumbing, electrical etc. Do your homework and challenge the Landlord if you find problem. You may find the landlord a lot less cooperative in these matters six months into the lease.
Find out if the Landlord owns the property free and clear. In many cases mortgage loans required the landlord to keep the cash flow above a certain level. This may prevent the Landlord from giving you rent concessions. Owners that have a small mortgage or no mortgage at all have greater flexibility and are more likely to cut you some slack.
Love is blind so don’t fall in love with a space. Do your homework. The Landlord will have an asking price for the space. You need to know what the market rates are and be able to show the Landlord if he is above market.  Let him know that you are looking at alternative spaces.

In the broad  terms a tenant is concerned about

• Annual lease cost  and

• Lease term.

Leases usually favor the landlord, but  within the above  two key parameters there are negotiation points all along the way for a tenant to try and gain some advantage

PART I – THE ANNUAL COST OF THE LEASE

The total annual lease cost rent is the sum of the rent and the expenses. Lets examine each component

a) LEASE RATE: The lease rate component is fairly straightforward . It is usually quoted as an annual rate of $ per square foot. In some shopping centers retail tenants have percentage leases where the Tenants pay a percentage of their gross sales plus an agreed base rent per square foot. Obviously, the retail tenant will want to consider how best to balance the base rate and percentage rent. If the tenant anticipates a high sales volume per square foot, it is better to negotiate a lower percentage rent and pay a little more on the base rent. Of course, the opposite  is true if the tenant expects a low sales volume per square foot. It is not always easy negotiating  this with mega landlords who may not be that flexible, but his depends on the market. Every Tenant should at the very minimum understand what the market lease rates are for comparable space,

Since the  lease rate is quoted in terms of dollars per sf, both the dollars and the square foot part should be examined. All too often the tenant simply accepts what the sf landlord is quoting.  You would be surprised how often the landlord has the square footage of the space incorrect. How can something so simple be incorrect? The space could have been reconfigured by prior tenants. The space SF is often measured incorrectly. Two different people may both measure and come up with a different total SF.  I have seen this work to the tenants advantage where the lease rate/sf is agreed and the lease is signed. Then the tenant has the space measured by a professional using BOMA standards. If it turns out that the SF is less than quoted, the tenant goes back to the Landlord and with the actual SF and effectively reduces the annual dollar rent. See my article on BOMA standards

b) EXPENSES:

(i) General Property Expenses: Lease can vary from Triple Net Leases (NNN) where the tenant is responsible for the taxes, insurance and maintenance to Gross Lease . These expenses are often called common area maintenance (CAM). In a Gross Lease the landlord generally pays the taxes, insurance and maintenance. In a Modified Gross Lease the tenant and landlord each pay a portion of the CAM. The tenant must be sure that he understands the type of lease he has and that he is on the same page as the Landlord in defining these expenses. Some brokers define a Full Service Lease as a Gross Lease that includes utilities, others use the term Full Service Lease as a synonym for a Gross Lease.  Understand exactly what costs you as a Tenant will be responsible for. The Tenant should ask for an explanation of the components of the CAM cost. Sometimes the CAM component is based on estimated expenses. These should be adjusted at year end and the tenant should be entitled to see an accounting. Look for expense escalation clauses, even in a gross lease. The landlord may define the first year as a base year and not charge expenses, but in year 2 if some property expenses increase, the tenant is surprised to receive a bill for the increase over the base. Be careful about real estate taxes. If it is a new building the current tax rate may still be based on the raw land or building shell.  The property tax will increase at the next assessment period when the finished building is assessed.

(ii) Tenant Space Expenses: A tenant may agree in the lease to be responsible for certain expenses of the individual space, such as Heating, Ventilation and Air Conditioning (HVAC). The equipment should be checked before occupancy. Some tenants just don’t bother. The air conditioning may seem fine but a 15 year old system that has not been well maintained represents a huge cost.  Similarly for plumbing, electrical etc. Do your homework and challenge the Landlord if you find problem. You may find the landlord a lot less cooperative in these matters six months into the lease.

(iii) Build-Out Expenses. A Landlord will often agree to allowances for certain build-out expenses and the Tenants should negotiate the best deal he can.  Many landlords, in a soft market, will also offer periods of free rent. The Tenant is responsible for other start up costs (example a burglar alarm). The Tenant may be able to negotiate for the landlord to pay some of these additional upfront expenses in exchange for a slight increase in rent.   It can help with cash flow for the tenant

Find out if the Landlord owns the property free and clear. In many cases mortgage loans required the landlord to keep the cash flow above a certain level. This may prevent the Landlord from giving you rent concessions. Owners that have a small mortgage or no mortgage at all have greater flexibility and are more able to cut you some slack.

Don’t fall in love with a space. Do your homework, be diligent and got the whole way. Inspect all the equipment, especially the electrical, heating and plumbing, companies like Blake & Sons Heating and Air can be hired independently, their second opinion is your life line in many cases. . The Landlord will have an asking price for the space. You need to know what the market is offering and break out lease rate and expenses so that you can compare apples to apples. You need to be able to show the Landlord if he is above market.  Let him know that you are looking at alternative spaces.

The purpose of this blog is to share information on questions that I have answered or information I have given to my commercial real estate clients in the Tampa Bay, FL area. I hope that others may find the information useful.

Steven Silverman, CCIM is the broker at Tampa Commercial Real Estate, a commercial real estate brokerage firm based in Tampa, FL. Please contact us if you are looking to purchase, sell or lease commercial property in the Tampa Bay area.

email: Steven@TampaCommercialRealEstate.com.

WebSite: www.TampaCommercialRealestate.com

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Importance of Measuring SF when Leasing or Purchasing Commercial Real Estate

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The area or square footage of the property is a major determinant of the value attributed to the asset. Lease rates and sales prices are often determined by the square footage. Yet few participants in the transaction ever verify the properties actual square footage. There are often errors regarding the total square feet in the space being leased or purchased.   Prior tenants may have shifted walls many times and the Landords records may not be current. Often, the square footage quoted by the Landlord or reflected in County records, floor plans or Tax records is accepted as gospel. Property Appraiser records and Tax records were never meant to be used in this manner.

The problem is further compounded by having different measurement standards. Different people measuring will obtain different results. Often a lease will specify the square footage, but does not specify which measuring standards to use. A small difference in square footage can make a difference of thousands of dollars. Sometimes tenants are overcharged. Very often, the owner does not charge enough

Then new BOMA/ANSI made significant changes in the manner of measuring an office building compared to the earlier versions: Under this version the structure is measured and evaluated as a whole as opposed to floor by floor classification. Such classification allows for a better comparison between the office structures, many of which have elaborate common area configurations,

Under BOMA standards, uniform guidelines are established for measuring interior space. BOMA takes into consideration the following areas when calculating the total square feet:
• Useable area (space being occupied by the tenant)
• Floor Common Area on the tenants floor
• Building Common Area
• Accounting for walls and the width of walls is clarified by BOMA.

First the tenants useable area is measured. The useable area on each floor is then increased to support the tenant share of the common area on their floor. A typical amount for floor common area is a range of 8-18% depending on the configuration of the floor That figure is again increased by the tenant’s proportionate share of the building common areas. These areas include main floor lobbies, storage rooms and building service rooms, all of which where not included in the rentable areas when using the previous methods

This Site gives a good definitions of the BOMA concepts: http://www.officefinder.com/boma.html

The BOMA standards were created to apply to office buildings only. Although the basic concepts are often implemented into leases of other building types, the standard does not recognize them.

Retail and industrial buildings are most often measured from the outside face of exterior walls and the center of demising walls, with no increase or gross-up factors for common areas.
Government and residential buildings can vary from this as well. The methods of measurement are unlimited to whatever any one lease may stipulate.

Make sure that your lease specifies which measurement standard to use. For instance BOMA. Services are available to verify the actual square footage using the latest BOMA standards. There is a cost to this, but it may be well worth it if you feel that you are getting the short end of the stick.

ANSI/BOMA Standard, which has become the de-facto standard for the measurement of commercial office and retail space. (NOTE: BOMA and ANSI are currently in the process of incorporating industrial space into this Standard as well.)

The ANSI/BOMA Standard lays out a fairly rigid set of guidelines and definitions, clearly defining such things as common areas, vertical penetrations, usable and rentable areas. Probably the most confusing aspect of the Standard is “where to draw the lease lines”. There are many factors which have to be taken into consideration when deciding whether a lease boundary goes to the inside of a wall, the outside, the center-line, or to the glass. As well, common areas must be distinguished between “Floor Common” (for the benefit of tenants on that floor only), or “Building Common” (for the benefit of all tenants in the building).

This differentiation also affects where the lease lines are drawn, and the resulting areas. Calculating a lease to the wrong side of a wall can dramatically affect not only that tenant, but an entire building when dealing with Building Common Area.

Having buildings measured to ANSI/BOMA Standards makes sense in many ways:

First, it facilitates the comparison of your building with others, as it is the industry-wide standard on which rents are based.

Second, the latest ANSI/BOMA Standard (1996) represents a major change from previous versions, and results in the ability to capture many areas previously not considered as part of Rentable space, in particular large building common areas such as ground-floor lobbies, mechanical rooms, storage facilities, exercise rooms, etc. In most cases, the increase in Rentable area upon resurvey to the latest ANSI/BOMA Standard more than offsets the cost of the survey and plans. And as an added benefit, when using the AccuMeasure system, you end up with a great-looking set of As-Built drawings for each floor!

The new Edition includes very significant changes in a way the measuring office building compared to the earlier versions: structure is measured and evaluated as a whole as opposed to floor by floor classification. Such classification allows for a better comparison between the office structures, many of which have elaborate common area configurations, which have not been classified using earlier BOMA standards.

The most significant change in the 1996 method includes the inclusion of building common areas in each tenant’s rentable area. These areas include such locations as main floor lobbies, electrical and mechanical rooms, service rooms, etc. – none of these were included in the rentable areas in prior BOMA Standards.

The purpose of this blog is to share information on questions that I have answered or given to  my commercail real estate clients  in the Tampa Bay, FL area. I hope that others may find the information useful.

Steven Silverman, CCIM is the broker at Tampa Commercial Real Estate, a commercial real estate brokerage firm based in Tampa, FL. Please contact us if you are looking to purchase, sell or lease commercial property in the Tampa Bay area.

email: Steven@TampaCommercialRealEstate.com.

WebSite: www.TampaCommercialRealestate.com

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