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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)”

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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

Download Full Demographic Report

[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 ILSHARE
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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.

View Full Listing

Schaumburg Executive Office Flex Space For LeaseSHARE
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Schaumburg Executive Office Flex Space For LeaseIndustrial Property For Lease

Schaumburg Executive Office Flex Space For Lease

1300 Basswood Rd, Schaumburg, IL 60173

Total Space Available: 18,200 SF
Rental Rate: $10.50 – $12 /SF/Year
Min. Divisible: 8,200 SF
Property Type: Industrial
Property Sub-type: Flex Space
Building Size: 47,534 SF
Lot Size: 3.34 AC


Description

18,200 SF Flex-use space available for lease in Schaumburg ideally located just north of Golf Rd minutes from I-290 & I-90 offering ideal transportation N-S-E-W in the Chicagoland area from the NW suburbs. 8,200 SF of well-appointed executive offices currently configured with a welcoming reception area, 17 bright window lined glass-doored offices, spacious conference room, and four larger executive offices or additional conference rooms. 10,000 sf adjacent modern warehouse space offering 18’6″ clear heights, two shared recessed truck docks, one grade-level door, 800a/480v 3p heavy power and fully heated and cooled. Office space may be leased separately, but warehouse space is only available if leased along with the office space.


Space Available: 18,200 SF
Rental Rate: $10.50 – $12 /SF/Year
Space Type: Flex Space
Additional Space Types: Creative/Loft
Min. Divisible: 8,200 SF
Lease Type: Industrial Gross
Date Available: Mar 2016
Lease Term: 60 Months
No. Parking Spaces: 150
Office SF: 8200 SF
No. Dock-High Doors/Loading: 2
No. Drive In / Grade-Level Doors: 1
Clear Ceiling Height: 19 ft.

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New Listing Surgical Center Urgent Care Facility
For Sale Roosevelt Rd Glen Ellyn IL

Surgical Center and Urgent Care Facility For Sale. Ideally located on busy Roosevelt Rd in Glen Ellyn just East of I-355. Offers a bright airy waiting room, reception desk, back office, two surgical rooms, large recovery room, three exam rooms with sinks, six total restrooms, lead-lined x-ray room, lab rooms, sterilization area, break room and file storage. Owner occupied and currently operating facility. Please do not disturb. Showings available by appointment only Thursday and Fridays.


Highlights

  • Surgical Center and Urgent Care Facility
  • Fully Built-out & Currently Operating
  • Ideal Roosevelt Rd Location just East of I-355

 

Specifications

Address: 1186 W Roosevelt Rd Glen Ellyn, IL
Price: $1,200,000
Building Size: 3,680 SF
Price/SF: $326.09
Property Type: Office
Property Sub-type: Medical Office
Additional Sub-types: Acute Care Hospital
Property Use Type: Vacant/Owner-User
No. Stories: 1
Building Class: B
Year Built: 1983
Lot Size: 1.39 AC
Parking Ratio: 8.70 / 1,000 SF


Photos

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Coldwell Banker Commercial Exclusive Leasing Agent Hanover Square

PRESS RELEASE

Randy Taylor and Chris Surico of Coldwell Banker Commercial NRT
Awarded Exclusive Leasing Assignment for Hanover Square Shopping Center

NORTHBROOK, Ill –Coldwell Banker Commercial NRT has been awarded the exclusive leasing assignment for the Hanover Square Shopping Center in Hanover Park, Illinois. Randy Taylor and Chris Surico with Coldwell Banker Commercial NRT will be leading the leasing efforts for the 114,750 square foot neighborhood retail center that is owned by the Village of Hanover Park. 

The center, being redeveloped by the Village of Hanover Park, offers retailers a unique opportunity to be a part of the repositioning of this center in the community with availability from 1,500-39,000 square feet. Located just north of the busy intersection of West Lake Street and Barrington Road, Hanover Square Shopping Center is conveniently within close proximity to the Hanover Park Metra station and other public transportation.

Coldwell Banker Commercial Affiliates is one of the leading franchisors of commercial real estate services through the Coldwell Banker Commercial®brand. Coldwell Banker Commercial is a registered trademark licensed to Coldwell Banker Real Estate LLC. Through its independently owned and operated offices, the Coldwell Banker Commercial network is a premier provider of real estate services and is a leader in the commercial real estate industry. The Coldwell Banker Commercial network of brokers serves the needs of owners and occupiers in the leasing, acquisition, disposition, structured finance and management of all property types. The Coldwell Banker Commercial network of commercial brokers can be found in 41 countries in North America, South America, Europe, Africa, Asia and Australia. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, the world’s largest real estate franchisor. 

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New Listing: Fully Occupied 6-Unit Multifamily For Sale 8% Cap Rate

Fully occupied 6-unit apartment building for sale in desirable Lombard, IL. 8% Cap Rate. Five 2-Bds and One 1-Bd units offering hardwood floors, tile baths, storage units, in building owned coin operated w/d and 12 off-street parking spaces. Well maintained long term ownership. Upgraded kitchens & baths and refinished floors. Consistently high occupancy with convenient access to transportation (bus 1-block) and shopping (Yorktown). This property is offered for sale by Randolph J. Taylor MBA, CCIM, Broker with Coldwell Banker Commercial in Naperville, IL for $635,000. For further information you may contact Mr. Taylor at (630) 344-9355 or [email protected].

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New Listing: Walgreen’s Shadow Anchored Retail Space For Lease Plainfield

1200-2720 sf retail for lease at Walgreen’s shadow anchored newer attractive neighborhood retail center at the busy SW Intersection of Rte 30 (Lincoln Hwy) and 135th St (Pilcher Rd) in near NW Plainfield.

New McDonalds is also under construction immediately to the South of the property book-ending the property between two high traffic national retailers in a densely populated upper income area.

1520 SF former Aurelio’s Pizza restaurant – Floor drains, grease trap, plumbing remain. 1200 sf former Chiropractor space well finished with Pergo and tile flooring. Both can be combined for a total of 2720.

This property is offered for sale by Randolph J. Taylor MBA, CCIM, Broker with Coldwell Banker Commercial in Naperville, IL for $$18/sf NNN. For further information you may contact Mr. Taylor at (630) 344-9355 or [email protected].