For Immediate Release

Contact:
Edward Schmidt Sherry Halstead
305-938-4000 305-938-4000
es******@na******.com sh*******@na******.com

NAI Miami Negotiates a Five Year Office Lease for 7800 Red Road Building

MIAMI, FLORIDA – NAI Miami, a member of the world’s premier managed network of commercial real estate firms, announced today the team of Edward Schmidt, CCIM and Sherry Halstead negotiated a 5 year, 911 square foot office lease for their client, 7800 Red Road, LLC located at 7800 Red Road in South Miami, Florida. The tenant is Furshman and Davis Chiropractic Centers, Inc., and was represented by Re/Max Advance Realty.

7800 Red Road is 60,923 square foot newly renovated class “A” office building conveniently located in South Miami. Offices are still available from 755 square feet at $43-$45 per square feet full service.

About NAI Miami

NAI Miami is a commercial real estate organization with the passion, dedication and expertise to realize maximum potential and generate creative solutions for our clients worldwide. Our collaborative services platform provides an expansive, yet nimble responsive structure enabling us to efficiently deliver superior result. To learn more, visit www.naimiami.com.

About NAI Global

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing over 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit www.naiglobal.com

For Immediate Release

Contact:
Brandon Weiss
305-938-4000
bw****@na******.com

NAI Miami Negotiates Five (5) Year Lease for Body 20 in Weston, Florida

MIAMI, FLORIDA – NAI Miami, a member of the world’s premier managed network of commercial real estate firms, announced today Brandon Weiss recently negotiated a five-year, 1,200 square foot retail lease for his client, Body 20 located at 1386 Weston Road in Weston, Florida. The landlord is Country Isles Plaza, LLC c/o Sansone Group, LLC. The lease is valued at over $288,000.

Body20 Studio EMS (Electro Muscle Stimulation) mimics the natural action of our central nervous system, sending electrical impulses to contract our deep muscle fibers. In just a 20-minute training session, your personal trainer will put you through a customized 1 on 1 program, giving your body over 150 times more muscle contractions than a conventional workout.

About NAI Miami

NAI Miami is a commercial real estate organization with the passion, dedication and expertise to realize maximum potential and generate creative solutions for our clients worldwide. Our collaborative services platform provides an expansive, yet nimble responsive structure enabling us to efficiently deliver superior result. To learn more, visit www.naimiami.com.

About NAI Global

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of over 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

NAI Global was acquired in 2012 by C-III Capital Partners, a commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management. To learn more, visit www.naiglobal.com.

Professional jargon can be intimidating no matter what industry you are in but commercial real estate terms can be especially tough to learn.

If you’re like many, learning this new “language” can be challenging – it’s possible that you may know certain commercial real estate terms but you might not understand some common phrases.

Below you will find a list of common industry terms we think are worth learning.

Assignment Clause

An assignment clause spells out which contractual obligations, rights, and duties may be transferred from one of the contractual parties to another party. The assignment may be in whole or in part, and the clause also details the conditions under which a party can assign these duties.

Capitalization Rate

The capitalization rate, often just called the cap rate, is the ratio of Net Operating Income (NOI) to a property’s value. For example, if a property recently sold for $1,000,000 and had an NOI of $100,000, the cap rate would be $100,000/$1,000,000, or 10%

Common Area Maintenance (CAM) Fees

Common Area Maintenance (CAM) expenses are fees paid by tenants to landlords to help cover costs associated with overhead and operating expenses for common areas

Escalation Clause

An escalation clause is a clause in a lease or contract that guarantees a change in the agreement price once a particular factor beyond control of either party affecting the value has been determined

Option to Buy

The option to buy is an agreement that gives an investor the right to buy a particular number of shares, or other financial assets, at a fixed price and before a fixed date.

Parking Ratio

Total rentable square footage of a property divided by the number of parking spaces; typically expressed as a ratio of spaces per 1,000 square feet. As an example calculation, a 40,000 square foot office building with 180 parking spaces has a parking ratio of 4.5 spaces per 1,000 sf.

Rentable Square Footage

Rentable square footage is defined as usable square footage plus a portion of the building’s common areas. As mentioned above, common areas outside of your occupied space that is of benefit to you (lobbies, restrooms, hallways, etc).

Rent Concession

A rent concession is essentially a rebate, a price reduction or some other form of benefit offered by landlords for inducing a prospective tenant to move into their property.

Right of Expansion

The right to expand clause is included in Leases where a Tenant has an option to add additional space in the Landlord’s Property to the current Premises. The clause should include deal-specific information about the nature of the Expansion Premises, as well as any restraints on the Tenant’s right to expand.

Right of First Refusal

Right of first refusal (ROFR or RFR) is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party.

Sublease Clause

A Sublease is a legally binding contract made between the original tenant of a rental property (sublandlord) and a new tenant (also known as a subtenant or a sublessee). The sublease gives the subtenant the right to share or to take over the rented premises from the original tenant.

Usable Square Footage

Usable square footage is the actual space you occupy from wall to wall. Usable square footage does not include common areas of a building such as lobbies, restrooms, stairwells, storage rooms, and shared hallways.

Every growing business will someday decide whether to buy or rent their next space. While weighing your options you should write out a pros/cons list. You might realize that buying is your best option.

If you still aren’t sure, take a look at the below infographic. Answering a few basic questions might help make the decision easier.

Some of the pros

Designing the Property as You Please

You have full control over your property and can decide what needs to be done in terms of designing your property according to your business needs.

Long-Term Investment

Owning a property is a long-term investment, while renting is a short-term fix.

Creation of Additional Revenue Streams

You can rent out any additional space your business isn’t using. 

Don’t Have to Deal With Landlord Restrictions

Do your business without the restrictions. Use your parking spaces, stay late or even come in on weekends.

Paying for Something You Actually Own

Does this really need an explanation? 

Take a look at a few of our properties to give you some ideas: