This month I’m going to offer a two-part series. Both articles will examine the advantages of leveraging the expertise of a commercial broker for commercial real estate transactions. This first article will cover the benefits of a commercial broker from a seller’s perspective; I’ll follow up in part two with a look at the benefits from a buyer’s point of view.

Before we delve into the many reasons why using the services of a commercial broker is a good idea for anyone looking to sell commercial real estate, let me just make a few general comments …

 

Commercial real estate is truly a specialty. A commercial real estate transaction is a complex undertaking that involves thousands of details and interrelated tasks. It can be very difficult for someone without a thorough knowledge of the commercial real estate business to manage a transaction efficiently and without missing details that would result in unnecessarily wasted time and money. The commercial real estate industry, along with all of the rules and regulations that govern it, is very dynamic. Things can change so quickly that even seasoned professionals can fall behind if they are not diligent about staying current.

I sometimes compare commercial brokers to attorneys. When people (that are not legal professionals) have legal issues, they could try to represent themselves, but it’s not a good idea. Without the vast knowledge and understanding of the minute details that a qualified attorney possesses, there’s a high probability that details could be overlooked and costly mistakes be made. Good attorneys know the most current laws and the smartest strategies and tactics for addressing legal issues. An attorney is an expert consultant for legal issues, and a commercial real estate broker is an expert consultant for real estate transactions.

A commercial broker can represent buyers, sellers, landlords and tenants. So let’s take a look at what a broker can do for sellers.

One of the most important benefits that a reputable broker offers a seller is effective marketing. Obviously, when sellers list properties, they need to get the word out to viable buyer prospects. This is how they reach the best prospects and they get the best price for the property. Unlike most property owners, quality brokers have a wide variety of marketing tools and resources at their disposal and the expertise to use those tools to maximize the exposure of the property to the target audience most likely to be interested in buying. Because a broker has these tools in place and uses them often, he or she will be able to run each marketing campaign efficiently and cost effectively. Marketing for-sale properties is something most brokers do practically every day, so the process usually runs like a well-oiled machine. Once the seller submits the details of the property, the broker will have it in the MLS system, on multiple internet real estate sites, and in all the right print publications almost immediately. In most cases, signs, flyers, email blasts, direct mail and other communications channels will also be used to enhance the campaign. In addition to the standard marketing channels, if a broker has been working in the area for an extended period of time, he or she has probably built up a network of relationships with clients, investors and other brokers that will result in some excellent leads.

An experienced broker may also have the talent and ability to look at the property from different perspectives and recognize variables that the owner didn’t notice. A broker can frequently help the seller identify the highest potential for the property based on factors such as location, square footage, property type and more. For example, a property near the hospital may have the most value as a medical facility. A building near the courthouse may be ideal for an attorney’s office. A specific example in Wilmington is on the corner of Oleander Drive and Independence Boulevard. Remember the old Exxon station? Today it’s a thriving Starbucks. It’s on the corner of a busy, high-visibility intersection that’s easily accessible from either side, and near business and residential areas – it’s the perfect spot for a Starbucks.

Proactive commercial real estate brokers also will offer sellers ideas about the best way to utilize their properties. Understanding the variety of ways a particular property can be split or subdivided can expand the appeal of the property to a broader audience. A good broker will run scores of analytics to determine the true value of the property for a range of business scenarios, and then find the appropriate target buyers.

The bottom line is, a commercial real estate broker is a specialist that has the tools, knowledge and connections to help sellers locate buyers efficiently and cost effectively.

Continue reading “The Benefits of a Broker In Commercial Real Estate (Part 1 of 2)”

Property Details


1616 E Roosevelt Rd
Wheaton, IL 60187

For Lease
$13.50/MG

Property Type Office
SF 13280
Available 750-2450
Built 1963/Reno
Floors 2
Acres .32
Zoning B-3
Parking 48
Signage Monument
Rate $13.50/SF MG


Description


High visibility Professional Office building with monument sign on busy Roosevelt Rd in Wheaton minutes from I-355 N-S. Ample 48 car parking lot. Recently renovated and very well maintained with an attractive front foyer and rear entrance. 750 SF, 2,200 SF and 2,450 SF Office Suites available for lease at a very competitive rate.


Highlights


  • Attractive Professional Office Building
  • High Visibility Roosevelt Rd Location with Monument Sign
  • Minutes from I-355 N-S Tollway
  • 750 – 2450 SF Suites Immediately Available

[pw_map address=”1616 E Roosevelt Rd Wheaton IL 60187″]

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Multi-Unit Retail Strip Center For Sale 521 S Bartlett Rd Streamwood IL 60107

Property Details


Parkview Plaza
519-535 S Bartlett Rd
Streamwood, IL 60107

For Sale
$499,000

Property Type Retail-Strip
SF 9050
Built 1978
Floors 1
Acres .78
Zoning C-2
Parking 52
Signage Monument
Occupancy 78%
Price $499000


Description


High visibility multi-unit Retail Strip Center For Sale at the intersection of S Bartlett Rd and Streamwood Blvd. Over 9000 SF of property on 3/4 of an acre offering a complimentary mix of tenants including a Hair Salon, Dry Cleaner, Staffing Business, Pet Grooming, and Chiropractor. High population densities of almost 100,000 people within 3-miles of the site. Upside potential with improved occupancy and facade renovations. Competitively priced at a little over $55/SF.


Highlights


  • High Visibility at Intersections S Bartlett Rd & Streamwood Blvd
  • Multi-Unit Retail Strip Center with Complimentary Neighborhood Tenant Mix
  • Upside Potential in a Recovering Retail Market (Service Oriented)
  • Good Visibility along busy 127th St

Demographics

1 Mi3 Mi5 Mi
Pop16842 95910236857
HH57183239780097
Ave HH Inc$92750$92253$94446

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[pw_map address=”521 S Bartlett Rd Streamwood, IL 60107″]

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Property Details


For Sale
$915,000

66420 W 127th
Palos Heights IL 60463

Property Type Medical Office
SF 9500
Built 1968
Floors 2
Acres .90
Zoning B
Parking 55
Signage Monument/Directory
Occupancy 78%
Price $915000


Description


Well maintained two-story Medical Office Building in South Suburban Palos Heights on busy 127th St. All Brick and Flexicore construction.


Highlights


  • Brick Flexicore Construction
  • Newer Mechanicals
  • Very Well Maintained
  • Good Visibility along busy 127th St

[pw_map address=”6420 W 127th St Palos Heights IL 60463″]

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Closed Hardees Fast Food Restaurant For Sale Lemont IL

Price Reduced Closed Hardees Fast Food Restaurant For Sale

Price Reduced

Closed Hardees Fast Food Restaurant For Sale

Former Hardee’s Drive-thru Fast Food Restaurant on a highly visible out-parcel of the Lemont Plaza, a vibrant 116,887 sf grocery store-anchored neighborhood shopping center located at the high traffic intersection of State Street (Lemont Road) and 127th, in one of the fastest growing communities in Chicago’s Southwest suburbs.

Anchored by quality retailers such as Chipain’s Fresh Market, Ace Hardware, Goodwill, Dollar Tree, Total Fitness, Subway, Dunkin Donuts and adjacent McDonalds.

Lemont Plaza is the premier local shopping destination for the town with upper-middle-income shoppers.

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