Eddie Chen thanks for following me on Twitter! https://t.co/fFF99Py5lu

Eddie Chen thanks for following me on Twitter! https://t.co/fFF99Py5lu

— Nathan K Smith (@AustinTenantAdv) September 25, 2019

from Twitter https://twitter.com/AustinTenantAdv

Josh Daspit thanks for following me on Twitter! https://t.co/Qoncn6tern

Josh Daspit thanks for following me on Twitter! https://t.co/Qoncn6tern

— Nathan K Smith (@AustinTenantAdv) September 25, 2019

from Twitter https://twitter.com/AustinTenantAdv

Value of a Tenant Representation Broker

The tenant representative is an advocate for the tenant in commercial leasing. This puts the tenant on an equal footing at the negotiating table with the landlord or the landlord’s agent. 

The tenant representative acts either as the local real estate arm of the client or as a local consultant to a corporate real estate department. In many assignments the tenant representative works with CEO’s, real estate departments, financial officers, human resource personnel, division managers, office managers, and legal counsel to develop, define, prioritize, and strategize space solutions for the client’s business needs.

In addition of advocacy, tenant representatives offer clearly valued and definable benefits to their clients

Benefits of a Tenant Representative

Competitive Advantage

A Tenant representatives knowledge of the product and the process will create a professional competitive environment between building owners.

Professionalism

This translates into credibility with property owners, and an ability to minimize the complications of the transaction process.

Market Knowledge

Gives the client greater leverage when dealing with landlord agents or the landlord directly thus a level playing field is established.

Experience & Track Record in the Industry

Assures the client that the agent has successfully handled the types of problems the client is experiencing. Tenants will benefit from the tenant reps experience.

Well-defined Focus on a Narrow Objective

The agent will not be distracted by conflicting interests. Serving the clients best interests will be the only focus.

Vendor Resource

You will have access to the tenant representatives network of vendors such as attorneys, architects, moving companies, contractors, etc…

 

Flavius Aetius thanks for following me on Twitter! https://t.co/mmo6ft1gxu

Flavius Aetius thanks for following me on Twitter! https://t.co/mmo6ft1gxu

— Nathan K Smith (@AustinTenantAdv) September 21, 2019

from Twitter https://twitter.com/AustinTenantAdv

Things to Consider When Renting Restaurant Space

Leasing restaurant space is similar to renting retail space however there are a few nuances about restaurant space that you need to be aware of. The last thing you want to do is get stuck in a 5-7 year restaurant lease that was not negotiated properly. If you have not leased restaurant space before it would be a good idea for you to hire an experienced restaurant real estate advisor to guide you through the process. If you want to go it alone the following things to be aware of will get you started.

Lease & Rent Commencement Dates

Most leases have a lease commencement date and a rent commencement date. It’s important that you know and understand the difference between the two. 

• The lease commencement date is the date that the lease is signed. 
• Rent commencement is when the first months rent is due.

When negotiating a restaurant lease it’s important that you give yourself enough time to build out the space, get your certificate of occupancy, and open for business before you have to start paying rent.

Restaurant Space Operating Expenses

When leasing restaurant space tenants have to pay their pro rata share of operating expenses (aka NNN) if in a multi-tenant building or if in a single tenant building pay 100% of opex. These operating expenses are typically referred to as “additional rent” and include charges such as the property’s taxes, insurance, and common area maintenance (CAM).

The common area maintenance charges include maintenance and repairs to parking lots, walkways, roof, etc. Additionally they include security and utilities for the common areas.

Triple nets (NNN) are estimated each year and included as part of the tenants monthly rent. The tenant’s pro rata share is calculated by dividing the square footage of tenants space by the total square footage of the building. 

For example if the retail tenants space is 2,000 sf and the total building was 10,000 sf, that tenants pro rata share would be 2,000 / 10,000 = 20%. Again if the tenant occupies the entire building then they pay 100%.

Exclusive Use

Restaurant users will benefit from having complimentary businesses in the shopping center however you want to make sure the landlord does not allow too many competing restaurant users. Make sure to get an exclusive clause in your lease that prohibits the landlord from leasing to competing businesses that sell similar products & services as yours. 

Assignment & Sublease Clauses

You want to negotiate to have the ability to assign or sublease the remaining lease term in the event you want to sell the business or if things don’t work out as planned. 

Space Delivery

You need to have in writing how and in what condition will the landlord deliver the space. The space will either be in shell condition (never been built out or occupied) and need a complete build out OR it will be a 2nd generation space that was built out and occupied before.

Is there a tenant improvement allowance? How old are the HVAC units and who is responsible for maintenance and repairs?

 

Free Austin Skyline Images & Photos

There are over 1 million people in Austin, Texas. Austin is one of the fastest growing cities in the country and is the 11th largest city in the U.S.

Over the last few years the Austin skyline has changed tremendously with buildings such as The Independent, Austonian, and Frost Bank Tower competing to be one of the tallest buildings in Austin. As business continues to boom in Austin the Skyline continues to change.

I love to take photos and drone footage especially in downtown Austin. This page contains skyline photos and images from Austin, Texas and the Austin downtown area which are available for free. All I ask is that you give me credit for the photo via a link to my website.

• 

• 

• 

• 

• 

• 

• 

• 

• 

• 

  DCIM/100MEDIA/DJI_0065.JPG

Gyms & Fitness Centers in Downtown Austin

If you live and/or work in downtown Austin you know the entertainment, shopping, and eating options are plentiful. Also the convenience of having everything within a short walk, bus ride, or scooter ride makes it easy to get around. 

If you are a fitness fanatic then you probably want to know where all the gyms in downtown Austin, Tx are located. Well we decided to make it easy on you. Below is a complete list of all the best gyms and fitness centers in downtown Austin, Tx.

Lists of Gyms in Downtown Austin

1. Life Time Fitness – 907 W 5th St #201, Austin TX 78703
2. Golds Gym – 115 E 6th St, Austin, Tx 78701
3. Mecca Gym & Spa – 524 N Lamar Blvd #300, Austin, Tx 78703
4. Castle Hill Fitness Gym & Spa – 1112 N Lamar Blvd, Austin, Tx 78703
5. Ro Fitness Downtown – 74 Trinity St, Austin, Tx 78701
6. The Bare Code – Downtown – 400 Nueces St, Austin, Tx 78701
7. Barre3 – 115 Sandra Muraida Way, #103, Austin, Tx 78701
8. RIDE Indoor Cycling – 2nd Street District, 117 Lavaca St, Austin, Tx 78701

 

Josh Daspit thanks for following me on Twitter! https://t.co/Qoncn6tern

Josh Daspit thanks for following me on Twitter! https://t.co/Qoncn6tern

— Nathan K Smith (@AustinTenantAdv) September 9, 2019

from Twitter https://twitter.com/AustinTenantAdv

Rollingwood Center Office Space – 2500 Bee Caves Rd Austin Tx 78746

Rollingwood Center consists of 3 Class A Office Buildings with a combined total of 341,400 sf of office space located in Southwest Austin at the corner of Bee Caves Rd and Mopac. If you are looking for nice office space with a ton of amenities, and in a great location minutes to downtown Austin this is worth checking out. This location provides easy access to many of the festivals in Zilker park such as ACL, 4th of July, and the annual Kite Festival.

Building Information

• Building 1 – 4 stories with a total of 147,900 rentable sf
• Building 2 – 3 stories with a total of 66,400 rentable sf
• Building 3 – 5 stories with a total of 128,000 rentable sf
• Total Rentable Square Feet of Office – 341,400
• Typical Floor Size – 22,000 to 37,800 sf

Parking

The parking ratio is 2.82 / 1000 sf. Covered parking is available.

Building Amenities

• Hike and Bike trail access
• Ceiling to floor windows
• Access to gym located in building 1

Location

The address is 2500 Bee Caves Rd, Austin Tx 78746. Located at the corner of Mopac and Bee Caves Rd

Transportation Information

• Minutes to downtown Austin and Zilker Park
• 20 minutes to Austin-Bergstrom International Airport

Cost to Lease Office Space at Rollingwood Center

Base rates here are around $35 plus $17nnn. Expect to pay somewhere between $48 to $50 sf gross.

Available Office Space

Interested in leasing office space at Rollingwood Center in Austin? Give us a call at 512-861-0525. If they don’t have what you are looking for there we can help you locate other class a office spaces in southwest Austin.

6 X Guadalupe – 400 W 6th St Austin Tx 78701 Office Building

6 X Guadalupe is a Class A Office Building also with a mixture of residential and retail space located in Downtown Austin at the corner of 6th St and Guadalupe. If you are looking for nice office space with a ton of amenities this is worth checking out. Once completed it will be the tallest building in Austin Tx.

Building Information

• Total Rentable Square Feet of Office – 587,780
• Total Rentable SF of Retail Space – 42,000
• 349 apartments
• Number of Stories – 66 (32 office & 34 residential
• Typical Floor Size – 30,150-31,115

Parking

The parking ratio is 2.82 / 1000 sf. There are 285 free covered spaces available

Building Amenities

• 11,500 sf of amenity space complete with fitness Center, building Conference Rooms, tenant lounge
• 24,000 sf of outdoor amenities

Location

The address is 400 W 6th Street, Austin, Tx 78701. Located at the corner of Guadalupe St and 6th st.

Transportation Information

• 30 minutes to the Austin Bergstrom International Airport
• 15-20 minutes to the Domain & Arboretum

Cost to Lease Office Space at 6 X Guadalupe

This has not been established yet however I anticipate them to be inline with other downtown austin office space rates of $60 to $70 sf gross.

Available Office Space

Interested in leasing office space at 6 X Guadalupe in Austin? Give us a call at 512-861-0525. If they don’t have what you are looking for there we can help you locate other class a office spaces in downtown Austin.

Flavius Aetius thanks for following me on Twitter! https://t.co/mmo6ft1gxu

Flavius Aetius thanks for following me on Twitter! https://t.co/mmo6ft1gxu

— Nathan K Smith (@AustinTenantAdv) September 2, 2019

from Twitter https://twitter.com/AustinTenantAdv