Fleet Remarketing Services, LLC to Relocate to Lake City, Georgia

Fleet Remarketing Services just purchased a site on the Forest Parkway in Lake City. Fleet, who specializes in the sale and remarketing of heavy trucks, trailers and equipment, is planning on constructing offices on the property for the expansion of their business.

Currently located at 5020A Highway 42, Ellenwood, Georgia (the southeast corner of Highway 42 and Campbell Boulevard) Fleet has been leasing space in a multi-unit facility.

The industrially zoned site acquired by Fleet has dual frontage, fronting on the Forest Parkway and backing up to North Lake Drive. It is currently occupied by a dilapidated house which Fleet reportedly plans to remove from the site rather than restore.

The location is a strategic location for any trucking related operation as the Forest Parkway intersects with Interstates 75, 285 and 675 and provides easy access to the Atlanta Airport and numerous trucking related business along U.S. Highway 42 (Moreland Avenue).

The transaction was brokered by Brande Bradford of Bradford Realty Group who represented the seller. Fleet was unrepresented.

 

Chris on 2008-05-31 @ 06:38 PM EST [link]

How to Renew Your Leases at the Highest Possible Rents

In south metro Atlanta the commercial rental market is showing some significant signs of deterioration. Vacancy rates, particularly in office and retail space appears to be on the increase and multi-tenant retail buildings which have been completed for months are sitting vacant.

This is very easy to accomplish as all you need to do is make note of other available properties and give them a call. When inquiring be sure to ask about common area maintenance and other charges which a tenant might be required to pay in addition to the base rent.

When considering the competition, be sure to compare total gross rent, not just the quoted base rental. It is common practice in some areas for landlords to quote a lower base rent but to have higher pass-through charges.

If this comparison places you property in a positive light, share it with your tenant. If your property appears over-priced at least you gain power by the knowledge and can take steps to justify the high rent.

TIP NO. 2: Check out Your Tenant

You already have a signed rental application from your tenant, so before you enter into lease negotiations with them, check them out again.

This knowledge can be very powerful. An exceptionally financially sound tenant may be more likely to move out of principle than a typical tenant and a struggling tenant may not be able to afford a higher rent. This research may well provide you with the ability to gain the most while retaining your tenant.

If a tenant is struggling, consider abating a month or two rent at the beginning of the renewal term in exchange for a higher per-square foot rent. This allows you to use the higher per-square foot rent as the basis for your next renewal.

If a tenant is successful, point out to the tenant that much of their success is due to this specific location and that they would be taking a risk relocating anywhere else.

TIP NO. 3: Point Out Positive Locational / Economic Factors

Before entering into negotiations over a lease renewal familiarize yourself with current, past and future changes in the location which have a positive influence on the property.

Has the roadway been widened or are there plans to add additional lanes? Has a major new business opened up in the area or making plans to locate nearby? Have there been a change in the local political climate to a more pro-business attitude?

Investigate these issues through your local Chamber of Commerce, city or county department of transportation, zoning department, development department, county or city manager and anyone else who may have knowledge of changes.

Use this information to reveal to the tenant why this location will only get better and any move might be penny-wise but pound-foolish.

TIP NO. 4: Play-Up the Cost of Moving:

Moving a business is not cheap. It can cost thousands of dollars in direct expense to move a business and an untold amount of money in lost business due to past customers and new customers responding to old advertising with the incorrect address being unable to locate the tenant.

Much of the value of old advertising is lost due to it having the wrong address and possibly the wrong phone number. Existing Yellow Page ads become ineffective and must be paid for until the new book comes out, even though they list the wrong location. All of those business cards handed out during the expiring lease term are now ineffective.

The wise commercial landlord is aware of these costs and is certain to make the tenant aware at lease negotiation. In many cases the tenant will find it is cheaper to pay a slightly above market rent than it is to move.

One subtle way to make the tenant aware is to provide the tenant with a moving checklist at the time of notifying them of the pending lease expiration. By doing this you can disguise your negotiating tactic as a helpful service. You can download a sample moving checklist (Adobe Reader required) by clicking here.

TIP NO. 5: Determine the Needs of Your Tenant:

When renewing the lease for a pawn shop, one local landlord did his homework. He knew that pawn shop licenses were difficult to obtain and limited in number. He also knew that the pawn shop he was leasing to was very successful in their current location, so they would want to remain within the city.

He also knew they were using every bit of space they had and if they were to move they would want a similar or larger sized unit. So, when it came time to renew the lease he searched the city for similar sized or larger space in a similar location. He found none available and none which he felt would be coming available in the coming months.

Knowing that the tenant had nowhere to go, he used this to his advantage and negotiated a multi-year lease at higher than market rents.

While some tenants requirements may be so flexible that they can easily adapt to almost any space others have specific requirements which must be met. Give some thought to your tenants and their specific needs which might not be met with a competing property and use this to your advantage.

Copyright 2008: Bradford Realty Group, All Rights Reserved.

Chris on 2008-05-31 @ 06:27 PM EST [link]

Home Sweet Home

Close to shopping, restaurants, schools, but yet having a country feel. This three bedroom, two bath Henry County, Georgia,  home has been freshly painted along with new carpet installed. Enjoy your summer out on the deck or relaxing in the swimming pool. This home comes with a 1 year home warranty. This home is conveniently located less than five minutes  from I-75.