Why should I work with a Commercial/Industrial Broker and Agent?
Real Estate Professionals in the Commercial/Industrial Field dont
sell houses; we work solely in the business field. Well guide
you through Phase I evaluations, discuss your power needs, load limits
for floors, Tenant or Buyer build out plans, the impact of brownfield
properties and whether you need a vanilla box for your retail shop,
or a cottage. As Commercial/Industrial Agents, we work in the spaces
that house your business.
Isnt Realtor, just another word for Real Estate Agent?
Absolutely not. Realtor is the official designation for a national
Real Estate Agents who have gone beyond the basic training required
by the state. Realtors take additional classes in ethics and training
to maintain their designation. Realtors belong to Boards of Realtors,
which are the local governing body for the National Organization.
Realtors cooperate in transactions with other Realtors twice as
often as independent agents cooperate with each other. And, the
Realtors Code of Ethics holds us to a higher standard of practice
than Non-Realtor agents.
What does the S.I.O.R. designation connote?
An S.I.O.R. Designee (Member of the Society of Industrial &
Office Realtors) has received this designation only after five or
more years of High Volume Sales/Leasing Activity; completion of
a demanding educational Course Curriculum; a two step formal evaluation
of each applicants Ethics/Standards of practice; an on-site
inspection of the applicants offices/files and more. Almost
without fail, an S.I.O.R. designee is part of the top 5% in the
Real Estate brokerage business.
What Does Net, Net, Net Mean?
Basically, Net, Net, Net means that, in addition to paying a Base
Rent or Square Foot Cost, you will be responsible for all other
expenses relating to the demised premises. These Expenses cover
Real Estate Taxes, Insurance, Landscaping, Snow Plowing, Trash Removal,
all utilities, building and systems maintenance and more.
What are the Costs of the Nets in a Lease?
These costs vary from Building to Building and from town to town,
but for the most part, Industrial buildings will cost between $1.50
to $3.00 per square foot and office buildings will run from $5.50
to $7.00 per square foot.
What are C.A.M. charges?
C.A.M. (Common Area Maintenance) charges are for costs related to
the expenses for the Common Area such as Exterior and Lobby Lighting,
Janitorial in common areas, Landscaping, Snowplowing, Elevators
and more. These costs will be addressed in the formal lease as to
how they are to be paid, i.e.: monthly, yearly, etc.
What Down Payment do banks require for a Commercial Loan?
Bank Requirements depend on many things, your financial strength,
credit worthiness, and your relation with your banker. The amount
a bank looks for as a down payment will vary from bank to bank but
generally most banks will require a 20% to 25% down payment.
Once I identify the Space/Building I want to Lease or Buy, How do
After you decide which facility best suits your business, you should
submit a Proposal to Lease, Offer to Buy or Letter of Intent to
the buildings owner. The Geenty Group Sales Person, with whom
you are working, will help you draft any of these three documents
and recommend that your attorney review them. Your attorney should
promptly review all correspondence of this type, prior to submission
to the owner, or the document should contain a contingency for legal
review by Tenant/Buyers Counsel.
Is The Geenty Groups Commission Rate, which was quoted to
Normally, The Geenty Groups quoted fee structure is not negotiable.
The rates we ask are what we need in order to adequately compensate
Co-Brokering Agents, to Pay Referral Fees, and to compensate our
own agents. If we offer CO-Brokering Agents a Lower Commission than
they can get on other offerings, our building owners are disadvantaged.
Brokers everywhere offer Discount Commissions, why should I pay
a full commission?
Service. The Geenty Group is a Full Service provider of Real Estate
Services. As such, we Sell and Lease the sites that we introduce
to the market. The best way to do that is to offer agents who represent
Tenants or Buyers a full and competitive commission. Our commission
structure brings us clients through other brokers; we dont
cut your client pool because weve cut our commission. Nearly
70% of our transactions are completed with our colleagues at other
firms. And, when we find a new site for your business, we dont
pat you on the head and say goodbye when the contract is signed.
Well help you find lawyers, contractors, environmental firms
office furniture suppliers, wiring specialists and temporary employment
services, if need be, everything to keep your business running smoothly
during a move. More about Our Services can be found on the home
What is a 1031 Exchange?
Also known as a tax deferred exchange, a 1031 allows certain capital
gains to be reinvested within a specific time period so that the
gains taxes are deferred. Recommendations and guidance about 1031
exchanges are best provided by a competent accountant who works
in this field regularly.
What is a Sale/Leaseback?
A Sale/Leaseback is one of the easiest ways to free up capital without
negatively impacting your balance sheet. As a business and building
owner, one can sell the building to an investor and maintain the
business in the building on a lease basis. This arrangement works
well for both parties, as an investor receives a monthly rental,
the seller of the building can reinvest the capital in the business
and the rent is shown on a business expense to offset the balance
sheet. Many companies, who enter Sale/Leaseback agreements, even
buy back the building years later.
What is a Phase I (Environmental) Survey, or II or III for that
Environmental surveys are typically required by conventional lenders
when the purchase of a piece of Commercial or Industrial Real Estate
is being financed. These reports are needed to comply with the Connecticut
Property Transfer Act, relating to Commercial/Industrial properties.
Environmental Engineering firms who conduct these surveys, can be
found in every county in Connecticut, however, we often recommend
firms that weve found to be helpful and ethical with their
a Phase I survey is the starting point for research into a propertys
Previous Uses and Environmental history. It begins with a physical
inspection, walking the property to look for signs of contamination,
such as surface stains and the like. Research continues with the
search of all DEP records relating to the property and the history
of all previous owners and uses, as well as a report on existing
Phase II Assessment continues where the Phase I left off. Should
any red flags be raised during the Phase I, testing is recommended,
which could include surface and subsurface soil samples, water samples
and more. Drill rigs and backhoes are used in this work. Reports
will include recommendations for clean up and environmental compliance
complete the Phase II.
Phase III is remediation, or clean up and can consist of anything
from removing tons of soil and having it carted to an incineration
site to continuous monitoring of contaminants in wells on the property.
Do you have a Newsletter?
A. Our Commercial/Industrial Newsletter can be found in