Unlike residential real estate, commercial real estate uses many different listing services. We use up to about 14 different listing services. The company pays about, nearly $100,000 a year. The two primary services that we use are CoStar and LoopNet. We also use Catalyst property search and a host of others. This is to maximize the exposure your properties will receive on the internet, and also help us to do research to understand the best place to market your property.
St. George Guardabassi answers the question: What commercial property listing services will my property appear if I list with Berger Commercial RealtyMarch 29th, 2016
Gina Yehuda answers the question: What is an estoppel certificate and why is this necessary in the purchase of commercial real estate property?March 24th, 2016
An estoppel certificate is used in a real estate transaction. It’s a signed document establishing certain facts and confirming the terms of the lease which the signing party may not later dispute or recant.
Steve Hyatt answers the question “To get started in search for commercial space what do I need to provide to the commercial real estate broker?”March 21st, 2016
First of all I like to have a sit down meeting with the owner, face to face, in their place of business. That way you get an idea of the type of operation they run, the kind of square footage they have, the quality of the operation, and the location. Then you go through a needs assessment with that owner, and that way you have a face to face meeting, you’re able to quantify and help guide that guide that customer along in terms of his search for property, and really how the best you can help him as a broker.
By: Roxanna Collins
Over the course of my 30-year career, I can say with certainty that commercial real estate is one of the most dynamic industries in the world. Being a broker requires deft navigation and awareness of ever-changing market trends. Additionally, it’s important to have a solid understanding of how certain conditions will influence a deal, which vary from client to client.
So how do brokers answer the age-old question that determines the fate of an entire commercial real estate transaction – “should I buy or rent?”
Well, now is a great time to buy property instead of renting it. If you are a business owner looking for a place to “set up shop” for years to come, it is far more advantageous to purchase property and utilize its space for your business as opposed to renting from a landlord.
• Interest rates are low. If you mortgage a property, current interest rates are at four percent. If you’re renting, odds are that your landlord is seeking an eight percent return on his or her investment, passing along the costs (plus more!) to you. The landlord is an investor in their own property and needs to generate an income from it.
• Land prices are up, which results in higher rents. Lack of inventory makes what is currently available more expensive for renters.
• SBA loans with zero percent interest are available for small business owners to purchase property. Additionally, SBA loans offer 100 percent financing for qualified buyers, including financeable closing costs and financing for any improvement costs.
• Tax benefits on ownership include write-offs of mortgage interest, taxes, operating cost and closing costs plus depreciation. If you are renting, real estate taxes, insurance and common area maintenance fees are “expenses” for the landlord. These expenses are billed to you and controlled by the owner, who can get a tax deduction on them.
In the long run, it may cost you less to own a property rather than leasing it, and owning comes with the added benefit of an appreciating asset.
If you plan to stay in business for 10 or more years, it makes sense to invest in yourself and purchase property. In doing so, you’re not paying sales tax or upfront fees like first month’s rent, last month’s rent, and one month’s rent as a security deposit.
I once represented an individual who owned a business in the marine industry for more than 15 years. Because she planned on staying in business for another 15 years, I advised her to look into buying property rather than renting. She met with her lender and accountant and was able to purchase property for less money upfront than what it would have cost to renew her lease.
Examples of properties that might be more cost-effective to purchase than rent over time, which are also currently on the market, include:
Many people who rent space from a landlord continue to do so because they aren’t aware of the options or possibilities for owning property. Just by meeting with a lender and accountant, you can determine your eligibility and explore an avenue for ownership. If you are a business owner who is in it for the long haul, contact Berger Commercial Realty about how we can assist.
FORT LAUDERDALE, Fla. – Berger Commercial Realty, a full service commercial real estate firm based in South Florida, announced that Stephanie Bernota has joined the firm as a Sales Associate. She is a licensed real estate agent in the state of Florida who focuses on investment real estate.
Bernota is experienced in handling short sales, foreclosures and auctions and has closed more than 100 property transactions since 2013. She joins the firm from Stateland Brown Real Estate.
“Stephanie brings a unique perspective to the firm with her experience in brokering investment properties,” said Berger Commercial Realty President Lloyd Berger. “Additionally, she brings a proven track record of marketing properties to potential buyers and tenants.”
Berger Commercial Realty is proud to announce that the firm has been honored by CoStar with Power Broker Awards as a Top Sales Firm and Top Leasing Firm for 2015 in the Broward County / Fort Lauderdale market.
CoStar, which has more than 1,600 researchers analyzing commercial real estate sales, leases and listings each day, tallies total transactions closed in a year to determine the winners of its Power Broker Awards in each market. These awards are presented to the firms and individuals who closed the highest transaction volume in commercial property sales and leases in their respective markets throughout the year.
Individual team members of Berger Commercial Realty are also among this year’s winners. In the Broward County / Fort Lauderdale market, Senior Vice President Judy Dolan was recognized as one of the Top Retail Leasing Brokers and Sales Associate Robert Dabrowski was recognized as one of the Top Office Leasing Brokers.
It is always our goal to provide our team members with the opportunities and tools necessary to reach their highest potential in brokering transactions, and these awards are evidence of that.
Berger Commercial Realty thanks CoStar for once again recognizing the firm and our brokers, and for encouraging excellence in the commercial real estate industry by administering the Power Broker Awards each year.
FORT LAUDERDALE, Fla. – Jonathan Thiel was recently promoted to senior sales associate at Berger Commercial Realty, a full service commercial real estate firm based in South Florida. Thiel joined the firm as a sales associate in 2012.
“Since joining the firm four years ago, Jonathan has certainly come into his own as a broker,” said Berger Commercial Realty President Lloyd Berger. “Always eager to learn from our more senior brokers, Jonathan’s dedication and enthusiasm have undoubtedly contributed to our firm’s success.”
Recognized as Berger Commercial Realty’s top broker under 30 in 2014, Thiel is a member of the South Florida Office Brokers Association, Young Professionals for Covenant House, Florida International University Alumni Association and St. Thomas Alumni Association. He holds a Bachelor of Science in hospitality management from Florida International University.
FORT LAUDERDALE, Fla.- Berger Commercial Realty brokers Judy Dolan, Keith R. Graves, CCIM and Jonathan Thiel represented CoFe Fund 1-Plantation, LLC in leasing 8,300 square-feet of office space to ABNS, LLC at Plantation Technology Park.
Located in Plantation at 1700 N.W. 66th Ave., Plantation Technology Park is a multi-tenant campus-style office park featuring renovated common areas, flexible layouts, ample parking and direct access to suites from the parking lot. The 42,026-square-foot building is situated on a 2.16-acre lot in central Broward County within minutes of University Drive, Sunrise Boulevard, Florida’s Turnpike and I-95.
Berger Commercial Realty was retained to lease and manage the property in 2012 when Dolan represented CoFe in the $8.85 million purchase of Plantation Technology Center, which consists of more than 96,000 square-feet of office, flex and industrial space in two single-story buildings at 1700 and 1800 N.W. 66th Avenue.
FORT LAUDERDALE, Fla. – Berger Commercial Realty recently announced the promotion of Judy Dolan to senior vice president. With more than two decades of experience in commercial real estate, Dolan was promoted to vice president in 2009 after joining Berger Commercial Realty as a broker associate in 2006.
Licensed by the Florida Bar, her background as a real estate closing attorney complements her experience in commercial sales and leasing. Dolan’s notable assignments include Lyons Technology Center, Merrill Industrial Center, the Executive Airport Business Center and Plantation Technology Park.
In 2015, she represented Resolve Marine Group in the $8.9 million purchase of Harbor Place, a 36,000-square-foot office building located at 1600 S.E. 17th St. in Fort Lauderdale. Following the transaction, Resolve Marine Group retained Berger Commercial Realty to lease and manage the building. She has also represented Resolve in a number of other real estate transactions over the past five years, including the company’s original 2012 lease at Harbor Place.
A long-time resident of Broward County, Dolan’s community affiliations include founding the Women’s Chamber of Commerce and serving as chairwoman. She is past president of the American Business Women’s Association, a member of the Greater Miami Board of Realtors, and a volunteer at Harbordale Elementary.
Her accolades include “Member of the Year” and “Woman of the Year” awards from the American Business Women’s Association, “Member of the Month” and Pinnacle Award distinctions from the Miramar/Pembroke Pines Chamber of Commerce, and CoStar Power Broker recognition from 2007 through 2010.
Dolan earned her Juris Doctor from University of Miami School of Law and received a Bachelor of Science in Criminal Justice from Rowan University in Glassboro, N.J.
The assignment encompasses more than 150,000 square-feet in 14 buildings
FORT LAUDERDALE, Fla. – Prologis, a S&P 500 organization and global leader in industrial real estate development and management, has awarded Berger Commercial Realty the exclusive leasing assignment for Prospect Park I and II.
Located within the Fort Lauderdale Commerce Center, the two business parks total 14 buildings and more than 150,000 square-feet of prime office and flex space. Brokers Joe Byrnes, Keith Graves and Jonathan Thiel will be the exclusive leasing agents for the properties, which are currently 65 percent occupied.
In 2013, Prologis retained Berger Commercial Realty to manage leasing for the I-595 Distribution Center, a 150,452-square-foot industrial facility in Davie that consists of two buildings.
“We are proud that Prologis, a true global leader in industrial real estate, continues to trust our firm to manage leasing on its behalf, and we look forward to increasing tenancy at these two properties,” Graves said.
Located at 5201 to 5255 N.W. 33rd Ave., the 70,874-square-foot Prospect Park I consists of six buildings and features prime office suites ranging from 1,178 square-feet to 4,719 square-feet.
Prospect Park II, located at 3301 to 3471 N.W. 55th St., consists of eight buildings totaling 81,925 square-feet of office/flex space and features bays from 902 square-feet to 5,589 square-feet. Many of these units are “flex” bays that feature warehouse space and offer grade level loading.
Renovated over the past two years, Prospect Park I and II both feature contemporary designs and enhanced curb appeal.
The business parks offer opportunities for highly visible exterior signage, round-the-clock access and convenient access to I-95, Florida’s Turnpike, Commercial Boulevard and Fort Lauderdale International Airport.
Since its inception in 1983, Prologis has developed and managed a world-class portfolio of high-quality logistics and distribution facilities. With $57.3 billion in total assets currently under management, Prologis operates in 21 countries and is responsible for 671 million square-feet of real estate worldwide.