Answer: Sevell Realty Partners is a full service commercial real estate firm representing a wide variety of national, local and individual clients to sell, buy, lease, sublease (disposition), manage or develop real property.
2. Do you cooperate with outside brokerage firms?
Answer: Yes. Our policy is to cooperate with all brokers to better serve our clients needs in a timely manner. We keep an extensive data base of commercial brokers throughout the state of Florida who are active in dealing with the types of real estate we do and communicate to them on a monthly basis a list of all our inventory and requirements.
3. I am considering disposing of my investment property. Can you tell me how much I can expect to sell it for?
Answer: Many factors enter into the marketing of commercial investment property. Our firm specializes in the preparation of in-depth market analysis utilizing past transactions, currently listed properties, and an evaluation of the market area and quality of the property to determine the market value, that is, the value of a particular property at which we believe it can be sold. We do not inflate values to obtain listings.
4. What is a pass-through or CAM charge?
Answer: Generally, these charges are in addition to the base rent paid for a leased property. They typically include property taxes, insurance and all costs to maintain the common areas of the property including the parking lot and the landscaped areas. These charges are considered to be additional rent.
5. Where is your firm located?
Answer: Our Corporate Headquarters is based in Boca Raton, Florida. However, we have offices in various locations in Florida which gives us full coverage of the entire state. In addition, we have the capability of handling specialized assignments in other states and have managed properties as far away as Rochester, New York.
6. The space I am inquiring about is too large for my business. Do you have anything else available?
Answer: Our representatives will be happy to work with you to find the exact size space in your desired market area to satisfy your needs. This service is at no cost to you.
7. I have inquired about one of the larger spaces in your disposition portfolio. Is it possible to split the space?
Answer: Although it is generally physically possible to split most spaces, the costs can be prohibitive. Each space and requirement will be looked at on a case-by-case basis to determine the economic viability of subdividing. The quality of the tenant's credit will be of utmost importance in making any kind of determination.
8. The term of the sublease quoted to me is not long enough to fulfill the goals of my business plan. Is a longer term possible?
Answer: Generally, if the quality of the tenant is desirable to the landlord of the property, the landlord will grant options for the space for extended terms after the original sublease.
9. A lot of your spaces are for sublease. Please explain the difference between a lease and a sublease.
Answer: A lease is a contract between a landlord and a tenant directly. A sublease is a contract between the landlord's tenant and a new user tenant. The original tenant becomes a Sublessor and the new tenant is the Sublessee. The economics of these transactions are generally different from the original lease. The sublessee is generally obligated to abide by all the other terms and conditions of the original lease between the landlord and the tenant.
10. The lease rate quoted was based on rentable square footage. What does that mean?
Answer: There are two terms used to describe certain commercial spaces for lease: rentable and usable square footage. Rentable square footage is not only the space utilized in the day-to-day operation of the tenant's business but can also include portions of common areas such as hallways, restrooms, closets, foyers, building lobbies, etc. Usable square footage is only that square footage contained within an area specifically set forth in the lease and is used only by the tenant for the conduct of the tenant's business. Usually this does not apply to retail space as in most cases rentable is the same as usable. However, in office buildings it is common to have rentable square footage in excess of the tenant's usable square footage.
11. What is the difference between a net lease and a gross lease?
Answer: A net lease is for the space described in the lease and additional rent will be added to cover the common area maintenance or pass through charges billed to each tenant by the landlord, usually calculated once per year but billed pro-rata on a monthly basis. A gross lease includes all costs that the tenant is expected to pay. There are no additional charges due the landlord.
12. What financial information will I be expected to deliver to the landlord in order to obtain a lease on space?
Answer: Generally a current balance sheet and income statement are all that is needed. Provided however, that these have income and assets to satisfy the landlord that the tenant will be able to meet its rental obligations relating to the space.
13. Will the landlord or sub-landlord pay for the improvements I will be required to make in the space I am going to lease?
Answer: This depends on the landlord as well as the type of transaction being contemplated. Some landlords will actually do the improvements while other landlords might grant rent credits for some amount of time to assist the tenant in the payment of those improvements. In many cases, the space is leased "as-is" and the tenant is required to make all the improvements at its own expense.
14. I found the space I like. How can I make an offer on it?
Answer: Generally, all offers should be in writing and should specify the terms and conditions under which you will lease the space. Common items are the term, the rent, any other charges, how the space will be delivered, etc. A disclaimer should be placed on all offers to state in part that the letter shall not be binding until such time as lease documents are fully agreed to and approved and executed by all parties.
15. I saw your sign in a vacant supermarket but I really only need 2,000 square feet. Can you help me?
Answer: Absolutely. If we cannot subdivide a space we can usually find other space for you within the same center or serving the same market area you require.
16. How can I obtain information about a particular location?
Answer: Please complete the information request within our website and we will be happy to forward you the information immediately.
17. How quickly can I move in?
Answer: This varies depending upon the space and the landlord. Some of the landlords we represent complete a lease transaction within 24 hours. Others, because of large corporations and committees, can take several weeks from the time a lease transaction is agreed to.
18. Does it cost me anything to have you represent me?
Answer: Generally not. Usually the landlords or sellers pay our commissions.
19. I hear the term "free rent" very often. What does that mean - and can I get some?
Answer: Free rent is usually associated with a period of time which begins at the signing of the lease until the tenant begins to pay rent. This period can range anywhere from one month for setup to several months if extensive renovations are going to be completed within the space.
20. How soon can I see a space I am interested in?
Answer: How soon do you want to? Call us for an appointment and we will do our best to accommodate your schedule.