News Feeds (RSS) http://naiblackblog.com/?p=187 http://naiblackblog.com/2018/04/brent-johnson-joins-nai-blacks-commercial-brokerage-team/ Commercial Real Estate Brent Johnson joins NAI Black’s Commercial Brokerage team! NAI Black Spokane&#8217;s leading commercial real estate company is proud to announce that Brent Johnson is now a licensed commercial real estate broker on the NAI Black brokerage team.  Brent’s background in commercial construction with McCloskey Construction provides him with a valuable foundation for a career in commercial real estate. Brent will apply his commercial [&#8230;] Fri, 13 Apr 2018 09:36:50 Z http://naiblackblog.com/2018/04/brent-johnson-joins-nai-blacks-commercial-brokerage-team/#respond NAIBlack-Blog <p>NAI Black Spokane&#8217;s leading commercial real estate company is proud to announce that Brent Johnson is now a licensed commercial real estate broker on the NAI Black brokerage team.  Brent’s background in commercial construction with McCloskey Construction provides him with a valuable foundation for a career in commercial real estate. Brent will apply his commercial construction background to assist his clients in the acquisition and disposition of commercial real estate. His primary focus will be on the office and the multi-family segments of the commercial real estate market. With the support and expertise of the whole NAI Black team Brent will be able to assist his clients with a broad range of commercial real estate services.</p> <p>Brent is a native of Spokane Washington, only leaving to study business in Iowa where he attended Waldorf College. When he is not working he enjoys all of the close proximity outdoor activities the Pacific Northwest has to offer. He is recently married to Stephanie Johnson and they are expecting their first baby girl!</p> <p>Brent is eager to talk to you about your commercial real estate needs.  If you need to grow your business, improve your location, sell or lease your property give Brent a call. Brent can also assist you in considering real estate investment options. He will also be working closely with his father Jeff Johnson and McCloskey Construction Inc. as they continue developing projects. Please contact Brent with any of your needs:</p> <p>Email-<a href="mailto:brent.johnson@naiblack.com">brent.johnson@naiblack.com</a></p> <p>Cell-(509) 850-5010</p> <p>Office-(509) 622-3573</p> <p>&nbsp;</p> <p>&nbsp;</p> http://naiblackblog.com/2018/04/brent-johnson-joins-nai-blacks-commercial-brokerage-team/feed/ 0 187 2018-04-13 09:36 +00:00 2018-04-13 04:36 -05:00 http://naiblackblog.com/?p=183 http://naiblackblog.com/2018/04/meet-ryan-yetter-new-site-manager/ People Spotlight Apartments employee property management real estate spokane washington Meet Ryan Yetter – New Site Manager NAI Black is pleased to introduce our new site manager of the Salnave Glen Apartments in Cheney, WA, Ryan Yetter. Ryan will be handling all of the leasing information for the apartments and will be a great new addition to our team. Here are some fun facts about him. Where did you grow up? Stockton, [&#8230;] Wed, 04 Apr 2018 21:56:51 Z http://naiblackblog.com/2018/04/meet-ryan-yetter-new-site-manager/#respond NAIBlack-Blog <p>NAI Black is pleased to introduce our new site manager of the Salnave Glen Apartments in Cheney, WA, Ryan Yetter. Ryan will be handling all of the leasing information for the apartments and will be a great new addition to our team. Here are some fun facts about him.</p> <p>Where did you grow up?<br /> Stockton, CA</p> <p>Why did you want to work for NAI Black?<br /> NAI Black is a large real estate company with a large inventory that ranges from commercial to residential. I&#8217;d like to one day own property to lease out to people so why not learn from the best, right? (Thanks Ryan!)</p> <p>What are your hobbies outside of work?<br /> Being in the great PNW I like to fish, hike, canoe, camp, bike and just explore. I&#8217;m also into the aquarium hobby.</p> <p>What is your favorite part about working in Property Mangement?<br /> The people are my favorite part about working in this field and the work itself. No day is going to be the same, just like no person is going to be the same. Each day is going to require a certain amount of attention to detail depending on what you&#8217;re doing and the same goes for tenants and prospects, everyone needs a different amount of attention. Plus I&#8217;m a people person so being able to interact with different people everyday is nice and being able to get outside every once in a while is nice too.</p> <p>The Salnave Glen Apartments are located at 1048 W. 1st Street in Cheney, WA right next to Salnave Park. For leasing information contact Ryan at salnave@naiblack.com, or call 509-844-2710.</p> <p><a href="http://www.cheneyapartments.com/">http://www.cheneyapartments.com/</a></p> http://naiblackblog.com/2018/04/meet-ryan-yetter-new-site-manager/feed/ 0 183 2018-04-04 21:56 +00:00 2018-04-04 16:56 -05:00 http://naiblackblog.com/?p=176 http://naiblackblog.com/2018/04/jeff-k-johnson-elected-to-serve-as-cba-board-chair/ Commercial Real Estate Jeff K. Johnson – Elected to Serve as CBA Board Chair Jeff K. Johnson, SIOR, CCIM, President of Black Commercial Inc. has been elected to serve as the Board Chair of the Commercial Brokers Association of Washington (CBA).  CBA is a 4,000 member owned cooperative that provides commercial multiple listing services, education, arbitration and networking to its members. The Commercial Brokers Association (CBA) is a member [&#8230;] Mon, 02 Apr 2018 21:10:39 Z http://naiblackblog.com/2018/04/jeff-k-johnson-elected-to-serve-as-cba-board-chair/#respond NAIBlack-Blog <p>Jeff K. Johnson, SIOR, CCIM, President of Black Commercial Inc. has been elected to serve as the Board Chair of the Commercial Brokers Association of Washington (CBA).  CBA is a 4,000 member owned cooperative that provides commercial multiple listing services, education, arbitration and networking to its members.</p> <p><em>The Commercial Brokers Association (CBA) is a member owned cooperative which has provided commercial multiple listing services to its members since 1977. Members share a philosophy of ongoing communication and cooperation and are represented by a voluntary Board of Directors that includes owners, managers and brokers of both sole proprietorships and local branches of multinational corporations. CBA remains committed to its original mission: to provide members with current commercial listing information, and help increase their productivity.</em></p> <p><em>Currently CBA has over 1,080 member offices with more than 4,160 commercial real estate agents, plus 160 associate member offices participating in our commercial multiple listing organization which serves the Northwest. There are over 3,200 active exclusive commercial/investment listings, valued at over $6 Billion Dollars plus more than 4,000 listings with over 60 Million Sq. Ft. for Lease. Although members can submit listings for properties located anywhere in the world, the primary area of service has been Washington state. In addition to the exclusively listed properties in our system, CBA&#8217;s Research staff gathers information on all available office, industrial and retail space in buildings over 10,000sf in King, Pierce, Snohomish and Spokane Counties. CBA continues to grow in size and effectiveness helping its members increase their productivity. By co-brokering through CBA you can better serve clients and create more sales, leases, and commission income.</em></p> <p>&nbsp;</p> http://naiblackblog.com/2018/04/jeff-k-johnson-elected-to-serve-as-cba-board-chair/feed/ 0 176 2018-04-02 21:10 +00:00 2018-04-02 16:10 -05:00 http://naiblackblog.com/?p=170 http://naiblackblog.com/2018/03/10-things-to-consider-before-hiring-a-property-manager/ Property Management 10 Things to Consider Before Hiring a Property Manager Property Managers can be incredibly helpful, but are also a luxury that many landlords simply cannot afford. It’s true, thousands of Landlords manage their properties with very little effort – and have set up their rental businesses to run on autopilot. The trick to being an independent landlord is to first establish the proper processes, leverage available tools and resources, and [&#8230;] Mon, 19 Mar 2018 04:50:19 Z http://naiblackblog.com/2018/03/10-things-to-consider-before-hiring-a-property-manager/#respond NAIBlack-Blog <p>Property Managers can be incredibly helpful, but are also a luxury that many landlords simply cannot afford.</p> <p>It’s true, thousands of Landlords manage their properties with very little effort – and have set up their rental businesses to run on autopilot.</p> <p>The trick to being an independent landlord is to first establish the proper processes, leverage available tools and resources, and build multiple rental form templates for use, over and over again.</p> <p>NAI Black, licensed as Black Realty Management, Inc., is a regional leader in property, facilities, asset, and common interest association management services and related disciplines with nearly five decades of comprehensive and results-oriented service to private, public, non-profit, and institutional clients. We are the only Spokane and Inland Northwest-based AMO®.</p> <p>Our property management services are tailored to each client’s unique needs and expectations and are delivered with a strong asset management perspective and responsiveness at all levels of service. We pride ourselves in the relationships we build with clients, tenants, vendors, and other interested parties. This commitment to customer relations is illustrated in the volume of clients who have been with us for a decade or longer.</p> <h2>10 Things to Consider before Hiring a Manager:</h2> <ol> <li> <h3>How many properties or rental units you own?</h3> <p>Most newbie landlords can handle 1 or 2 units on their own.  However, when you start to deal with 5-10+ properties and dozens of tenants, you should consider turning some of them over to a professional – especially if you have a separate full-time job.</li> <li> <h3>How far away do you live from your properties?</h3> <p>If you live over 50 miles away and have more than 2 units, you should consider talking to a local Property Manager who operates in a closer proximity to your rental property. If you do choose to be a long-distance landlord, you should create a list of favorite vendors that you can call upon in an emergency.</li> <li> <h3>Are you detailed?</h3> <p>Perhaps property management does not interest you, or you are not detail oriented.  If you are not an organized person, then you should consider giving the responsibility to a professional.</li> <li> <h3>Do you have the necessary KSA’s (knowledge, skills, or abilities)</h3> <p>If you have no idea what you are doing, and don’t want to learn, then don’t try to do it yourself.  However, if you don’t mind the adventure, you can study websites like Landlordology.com to learn the art of landlording.</li> <li> <h3>How busy are you?</h3> <p>Perhaps you are already super busy and can’t dedicate 2-10 hours a month for your properties.  Unless you have dozens of tenants, I believe most landlords can find time to handle it (if they want too).</li> <li> <h3>Can you afford a property manager?</h3> <p>A typical property manager takes 1 month’s rent as their flat fee. Others take a monthly cut of 4-10% of the rental income.  For some of my properties, I would be loosing money every month if I hired a property manager.  But for other properties, I have more than enough rental surplus to pay for a manager.  I think a great property manager with a heart of a teacher, is worth his/her weight in gold.</li> <li> <h3>Are you struggling to fill your vacancies and don’t know why?</h3> <p>If you feel like your property is vacant too often, then perhaps you need help with your marketing.  If you aren’t sure what else you can do, then consider hiring a manager because they often have tried-and-true marketing techniques – albeit it’s no guarantee.</li> <li> <h3>Do you have a service-oriented personality?</h3> <p>If you are not a “service” person, and are often bittered by regular maintenance calls from tenants, then you probably should take the role of silent investor, and leave the management to someone else.</li> <li> <h3>Do you mind working with contractors?</h3> <p>Contractors are often needed to maintain the property.  If you don’t feel comfortable researching, hiring, and double-checking their work, then you should probably hire a manager.</li> <li> <h3>Is your property subject to complex ordinances or an affordable housing program?</h3> <p>Many state and local laws are overly complex and require you to obtain extra certifications and take classes.  If your property is subject to an affordable housing program, a (legitimate) property manager will ensure that you don’t break any rules.  However, if a manager does get into legal trouble, you are still responsible as the home owner, and can be held liable.</li> </ol> http://naiblackblog.com/2018/03/10-things-to-consider-before-hiring-a-property-manager/feed/ 0 170 2018-03-19 04:50 +00:00 2018-03-18 23:50 -05:00 http://naiblackblog.com/?p=173 http://naiblackblog.com/2018/03/nai-black-to-market-and-lease-the-renovated-wonder-building/ Commercial Real Estate NAI Black to Market and Lease the Renovated Wonder Building NAI Black is set to market and lease the newly renovated Wonder Building. Built in 1909 the Wonder Building made Wonder bread and Hostess products up until the year 2000. A group of investors purchased the building and have invested $12 million in the renovation. The re-development of Kendall Yards to the west was an [&#8230;] Fri, 16 Mar 2018 07:10:51 Z http://naiblackblog.com/2018/03/nai-black-to-market-and-lease-the-renovated-wonder-building/#respond NAIBlack-Blog <p>NAI Black is set to market and lease the newly renovated Wonder Building. Built in 1909 the Wonder Building made Wonder bread and Hostess products up until the year 2000. A group of investors purchased the building and have invested $12 million in the renovation.</p> <p>The re-development of Kendall Yards to the west was an incentive for Wonder LLC to buy the parcel, says investor Pete Mounsey. The investors were also excited about the multi-million renovation of Riverfront Park.</p> <p>“The economy in Spokane seems to be strong and improving,” Mounsey said. “Businesses want to be close to downtown. …It seemed like a logical place for investment.”</p> <p>The new Wonder project features three full stories and a large basement for office users. A total of 100,000 square feet of new space is geared towards growing creative companies. The space will offer high ceilings, abundant natural light and will be unique as it&#8217;s a historic over 100 year old building. Plentiful parking will be provided on site and the building will be topped by a rooftop deck featuring views of Riverfront Park and Downtown Spokane.</p> <p>“We hope it becomes an iconic landmark for the city and for the north side of the river,” said Pete Mounsey, one of the partners in Wonder LLC.</p> <p>For information on leasing space contact NAI Black at Phone: 509-623-1000</p> http://naiblackblog.com/2018/03/nai-black-to-market-and-lease-the-renovated-wonder-building/feed/ 0 173 2018-03-16 07:10 +00:00 2018-03-16 02:10 -05:00 http://naiblackblog.com/?p=162 http://naiblackblog.com/2018/02/nai-global-ranked-among-top-five-commercial-real-estate-brands-in-the-17th-annual-lipsey-survey/ Commercial Real Estate NAI Global Ranked Among Top Five Commercial Real Estate Brands in the 17th Annual Lipsey Survey Spokane, WA &#8211; February 22, 2018: NAI Global, a leading, global commercial real estate firm, earned the top four spot in the 2018 Lipsey Survey of Top 25 Commercial Real Estate Brands. The survey was conducted among 100,000 commercial real estate professionals using a combination of ballot voting, phone interviews and focus groups to identify [&#8230;] Fri, 23 Feb 2018 17:29:48 Z http://naiblackblog.com/2018/02/nai-global-ranked-among-top-five-commercial-real-estate-brands-in-the-17th-annual-lipsey-survey/#respond NAIBlack-Blog <p>Spokane, WA &#8211; February 22, 2018: NAI Global, a leading, global commercial real estate firm, earned the top four spot in the 2018 Lipsey Survey of Top 25 Commercial Real Estate Brands. The survey was conducted among 100,000 commercial real estate professionals using a combination of ballot voting, phone interviews and focus groups to identify the top global brands. NAI Black is an Office of NAI Global.</p> <p>&#8220;We are proud that the strength of NAI Global is reflected in the results of this year&#8217;s Lipsey Survey,&#8221; said Dave Black, CEO of NAI Black, &#8220;The hard work and dedication that all of the brokerage firms puts in continues to show each and every year and NAI Black is proud to be apart of the NAI Global brand.&#8221;</p> <p>The survey is conducted by The Lipsey Company, a leading training and consulting firm specializing in the commercial real estate industry to equip organizations and their practitioners with the skills necessary to succeed in today&#8217;s competitive environment. The 2018 survey results can be found here <a href="https://lipseyco.com/brand-survey/">https://lipseyco.com/brand-survey/</a>.</p> <p><strong>About NAI Black</strong></p> <p>NAI Black is a proven leader in commercial brokerage and property management services, serving the Inland Northwest region for over 50 years. With the dedication and expertise of our agents, we are committed to realizing the maximum potential of our clients’ real estate investments while providing unparalleled service that delivers superior results across the full spectrum of sectors for owners, investors, developers, and occupiers.</p> <p><strong>About NAI Global</strong></p> <p>NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of over 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.</p> <p>NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.</p> <p>To learn more, visit <a href="http://www.naiglobal.com">www.naiglobal.com</a> or <a href="http://www.naiglobalnewslink.com">www.naiglobalnewslink.com</a></p> http://naiblackblog.com/2018/02/nai-global-ranked-among-top-five-commercial-real-estate-brands-in-the-17th-annual-lipsey-survey/feed/ 0 162 2018-02-23 17:29 +00:00 2018-02-23 11:29 -06:00 http://naiblackblog.com/?p=156 http://naiblackblog.com/2018/01/are-your-properties-properly-insured/ Commercial Real Estate Are Your Properties Properly Insured? Written by Black Commercial Inc. President, Jeff K. Johnson, SIOR, CCIM Fire and casualty insurance for commercial real estate for some property owners is an out of sight out of mind expense. Many real estate investors I know focus on getting the best premium each year at renewal and spend little time reviewing the terms [&#8230;] Wed, 24 Jan 2018 21:44:47 Z http://naiblackblog.com/2018/01/are-your-properties-properly-insured/#respond NAIBlack-Blog <p><em>Written by Black Commercial Inc. President, Jeff K. Johnson, SIOR, CCIM</em></p> <p>Fire and casualty insurance for commercial real estate for some property owners is an out of sight out of mind expense. Many real estate investors I know focus on getting the best premium each year at renewal and spend little time reviewing the terms of their policy or the replacement values of their properties. When the topic of fire and casualty insurance comes up we commonly think “that will never happen to me”. An annual review of your commercial real estate fire and casualty insurance policy terms and corresponding property values is a very important part of effectively managing your investment real estate!</p> <p>In 1989 I developed a 12,000 square foot medical office building for an ear, nose and throat medical practice and two dentists. The doctors and dentists leased space in the building and were also my partners in the LLC that owned the building.</p> <p>The good quality, wood frame, cedar sided medical office building provided a great place for my partners to run their medical and dental practices and it also provided us as owners with a solid real estate investment for twenty-three years.</p> <p>About three and a half years ago on a Friday afternoon in July one of my partners, whose dental practice was on the second floor of the building, thought he smelled smoke. Steve checked every suite in the building but could not determine where the smoke oder was coming from. He called the fire department and quickly had everyone vacate the building. Fortunately, on a Friday afternoon in July all of the other tenants had already left for the weekend, so it was easy for Steve, his staff and patients to quickly exit the building.</p> <p>The fire department arrived and after a full inspection of the building the firemen noticed smoke beginning to seep out of an exterior wall where the electric service and air conditioning condenser unit piping entered the building. Within a couple minutes that end of the building erupted in flames. Due to the potential explosion of compressed gas tanks in the two dental offices the fire crew was forced to back off and “manage the fire” resulting in the building being a total loss.</p> <p>Due to a good sense of smell and quick thinking by Steve no one was injured. Additionally, the dentists and the medical practice occupying the building were able to quickly find new space and get back in business.</p> <p>After the fire our first step was to review our insurance coverage and determine how to move forward. Fortunately we have a very good insurance broker who had worked with us each year to annually review our policy coverage and building replacement valuations. Having good policy terms and updated valuations helped us quickly work out a settlement with our insurance company. That settlement provided us with the funds necessary to rebuild the building at current construction costs. One important provision in our policy provided up to $50,000 in the case of loss for costs related to changes in the building codes since the building was originally constructed. That provision provided for the cost of a fire sprinkler system when we rebuilt.</p> <p>The fire provided an exit strategy for my partners who had by now retired and sold their medical and dental practices. With new partners, I bought out my former partners and we recently completed construction of a new building on the site for a physical therapist and a dermatology group.</p> <p>This loss provides a great example of the reason it is important to regularly review and update your fire and casualty policies. It also highlights the importance of working with a professional insurance broker or agent who will find you a reputable insurance company, with the best terms, good pricing and help you keep your replacement valuations current!</p> <p><em>Connect with Jeff K. Johnson, SIOR, CCIM on LinkedIn for more content like this. </em></p> <p><em>https://www.linkedin.com/in/jeffkjohnson/</em></p> http://naiblackblog.com/2018/01/are-your-properties-properly-insured/feed/ 0 156 2018-01-24 21:44 +00:00 2018-01-24 15:44 -06:00 http://naiblackblog.com/?p=153 http://naiblackblog.com/2018/01/the-positive-and-negative-of-commercial-real-estate-investment/ Commercial Real Estate The Positive and Negative of Commercial Real Estate Investment NAI Black in Spokane is a firm believer in the value of commercial real estate investment. Our brokers are experienced in helping clients navigate the many pros and cons of investing or property management. Contact us to understand any of the terms or concepts outlined below. Spokane is experiencing a growth in commercial development and [&#8230;] Thu, 18 Jan 2018 19:49:34 Z NAIBlack-Blog <p>NAI Black in Spokane is a firm believer in the value of commercial real estate investment. Our brokers are experienced in helping clients navigate the many pros and cons of investing or property management. Contact us to understand any of the terms or concepts outlined below. Spokane is experiencing a growth in commercial development and renovation. Now could be the time to explore the options of commercial real estate investment.</p> <p>Any type of property, whether it’s commercial or residential, can be a good investment opportunity. Commercial properties, for your money, typically offer more financial reward than residential properties, such as rental apartments or single-family homes, but there also can be more risks. Understand the full pros and cons of investing in commercial properties is important so that you make the investment decision that’s right for you.</p> <h1><strong>Positive Reasons to Invest in Commercial Property</strong></h1> <p>Here are some of the pros of buying commercial real estate over residential property.</p> <p>&nbsp;</p> <p><strong>Income potential.</strong> The best reason to invest in commercial over residential rentals is the earning potential. Commercial properties generally have an annual return off the purchase price between 6% and 12%, depending on the area, which is a much higher range than typically exists for single family home properties (1% to 4% at best).</p> <p><strong>Professional relationships.</strong> Small business owners generally take pride in their businesses and want to protect their livelihood. Owners of commercial properties are usually not individuals, but LLCs, and operate the property as a business. As such, the landlord and tenant have more of a business-to-business customer relationship, which helps keep interactions professional and courteous.</p> <p><strong>Public eye.</strong> Retail tenants have a vested interest in maintaining their store and storefront, because if they don’t, it will affect their business. As a result, commercial tenants and property owner interests are aligned, which helps the owner maintain and improve the quality of the property, and ultimately, the value of their investment.</p> <p><strong>Limited hours of operation.</strong> Businesses usually go home at night. In other words, you work when they work. Barring emergency calls at night for break-ins or fire alarms, you should be able to rest at night without having to worry about receiving a midnight call because a tenant wants repairs or has lost a key. For commercial properties it is also more likely you will have an alarm monitoring service so that if anything does happen at night, your alarm company will notify the proper authorities.</p> <p><strong>More objective price evaluations.</strong> It&#8217;s often easier to evaluate the property prices of commercial property because you can request the current owner’s income statement and determine what the price should be based on that. If the seller is using a knowledgeable broker, the asking price should be set at a price where an investor can earn the area’s prevailing cap rate for the commercial property type they are looking at (retail, office, industrial, etc.). Residential properties are often subject to more emotional pricing.</p> <p><strong>Triple net leases.</strong> There are variations to triple net leases, but the general concept is that you as the property owner do not have to pay any expenses on the property (as would be the case with residential real estate). The lessee handles all property expenses directly, including real estate taxes. The only expense you’ll have to pay is your mortgage. Companies like Walgreens, CVS, and Starbucks typically sign these types of leases, as they want to maintain a look and feel in keeping with their brand, so they manage those costs, and you as an investor get to have one of the lowest maintenance income producers for your money. Strip malls have a variety of net leases and triple nets are not usually done with smaller businesses, but these lease types are optimal and you can’t get them with residential properties.</p> <p><strong>More flexibility in lease terms</strong>. Fewer consumer protection laws govern commercial leases, unlike the dozens of state laws, such as security deposit limits and termination rules, that cover residential real estate.</p> <p>&nbsp;</p> <h1><strong>The Downside of Investing in Commercial Property</strong></h1> <p>While there are many positive reasons to invest in commercial real estate over residential, there are also negative issues to consider.</p> <p>&nbsp;</p> <p><strong>Time commitment.</strong> If you own a commercial retail building with five tenants, or even just a few, you have more to manage than you do with a residential investment. You can’t be an absentee landlord and maximize the return on your investment. With commercial, you are likely dealing with multiple leases, annual CAM adjustments (Common Area Maintenance costs that tenants are responsible for), more maintenance issues, and public safety concerns. In a nutshell, you have more to manage; and just as your tenants have to worry about the public eye, you do as well.</p> <p><strong>Professional help required.</strong> If you are a do-it-yourself person, you better be licensed if you are going to handle the maintenance issues at a commercial property. The likelihood is you will not be prepared to handle maintenance issues yourself and you will need to hire someone to help with emergencies and repairs. While this added cost isn’t ideal, you’ll need to add it on to your set of expenses in order to properly care for the property. Remember to factor in property management expenses when evaluating the price to pay for a commercial investment property. Property management companies can charge a percentage of rent revenues for their services, which include lease administration. Evaluate beforehand if you want to manage leasing and the relationships yourself, or if you want to outsource those responsibilities.</p> <p><strong>Bigger initial investment.</strong> Acquiring a commercial property typically requires more capital up front than acquiring a residential rental in the same area, so it’s often more difficult to get your foot in the door. Once you’ve acquired a commercial property, you can expect some large capital expenditures to follow. Your property might be humming along for a few months and wham, here comes a $10,000 bill to address roofing repairs or a new furnace. With more customers there are more facilities to maintain and therefore more costs. What you hope is that the gains in revenue outweigh the gains in costs, to support purchasing a commercial property over a residential one.</p> <p><strong>More risks.</strong> Properties intended for commercial use have more public visitors and therefore have more people on the property each day that can get hurt or do something to damage your property. Cars can hit patrons in parking lots, people can slip on ice during the winter, and vandals can spray paint the sides of the building. Incidents like these can occur anywhere, but chances of experiencing something like these events go up when investing in commercial properties. If you&#8217;re risk adverse, you may want to look more closely at putting your money in residential properties.</p> <p>&nbsp;</p> <p>NAI Black is a regional leader in commercial development, commercial lease negotiations and property management. Let one of our many skilled and dedicated brokers help you get started today.</p> <p>&nbsp;</p> <p><em>*Portions of this article are credited to <strong><a href="http://nolo.com/">NOLO.com</a></strong> by Matt Larson</em></p> 153 2018-01-18 19:49 +00:00 2018-01-18 13:49 -06:00 http://naiblackblog.com/?p=142 http://naiblackblog.com/2017/12/fujiyama-japanese-steakhouse-to-anchor-new-strip-mall-in-liberty-lake/ Commercial Real Estate Fujiyama Japanese Steakhouse to anchor new strip mall in Liberty Lake Article originally appeared on Inland Northwest Business Watch In case you missed the news a small chain of Hibachi style grill restaurants is opening a new location in Liberty Lake. The restaurant , which is called Fujiyama Japanese Steakhouse has already been under construction for a little while now. But, while many are aware of [&#8230;] Tue, 19 Dec 2017 18:47:34 Z http://naiblackblog.com/2017/12/fujiyama-japanese-steakhouse-to-anchor-new-strip-mall-in-liberty-lake/#respond NAIBlack-Blog <p>Article originally appeared on <a href="http://www.inlandnwbusiness.com/2017/11/fujiyama-japanese-steakhouse-to-anchor.html" target="_blank" rel="noopener">Inland Northwest Business Watch</a></p> <p>In case you missed the news a small chain of Hibachi style grill restaurants is opening a new location in Liberty Lake. The restaurant , which is called Fujiyama Japanese Steakhouse has already been under construction for a little while now. But, while many are aware of the new Fujiyama location it&#8217;s not all that&#8217;s being built at the same site.</p> <p>The building is actually a strip mall, the first class A retail building to be built in Liberty Lake since 2008. The new restaurant will take about 6000 square feet and another about 6000 square feet of space is for lease with 2 separate suites available. There have been no tenants announced for those two spaces however a leasing marketing PDF we&#8217;ve uncovered it shows the eastern side of the new building is already leased.</p> <div class="separator"><a href="https://i2.wp.com/lh3.googleusercontent.com/-6mFGaqrYdWk/WgKjlK9E84I/AAAAAAAADI0/NFmf_FGMAjg9NCGkDmUzNUDISuLw6MlkACHMYCw/s640/blogger-image-150886521.jpg?ssl=1"><img src="https://i2.wp.com/lh3.googleusercontent.com/-6mFGaqrYdWk/WgKjlK9E84I/AAAAAAAADI0/NFmf_FGMAjg9NCGkDmUzNUDISuLw6MlkACHMYCw/s640/blogger-image-150886521.jpg?w=1100&#038;ssl=1" border="0" data-recalc-dims="1" /></a></div> <p>The building is being built out front of the Liberty Lake Home Depot store at 21801 E. Country Vista. The site will also include a surface parking area and signage for the business coming there, we&#8217;ll keep you up to date on who&#8217;s coming and who&#8217;s not.</p> <p>Fujiyama Japanese Steakhouse, the main tenant is a small Silverdale,WA based chain or restaurants with only 3 restaurants currently open for business. While the Liberty Lake restaurant will be the only one in the Spokane area they do have one on Bishop Blvd. in Pullman. The other 2 are in Western Washington.</p> <p>Fujiyama prepares guests entrees right in front of you on hibachi grills. The menu will consist of many Asian dishes, steaks and more. They&#8217;re also will be a full bar with happy hour specials.</p> <p>For more information of Fujiyama Japanese Steakhouse, check-</p> <p><a href="http://fujiyamawa.com/">http://fujiyamawa.com</a></p> <p>And, for more info on leasing space in the new building contact Katlyn Caudle at NAI Black-</p> <p><a href="http://naiblack.com/">http://naiblack.com</a></p> http://naiblackblog.com/2017/12/fujiyama-japanese-steakhouse-to-anchor-new-strip-mall-in-liberty-lake/feed/ 0 142 2017-12-19 18:47 +00:00 2017-12-19 12:47 -06:00 http://naiblackblog.com/?p=145 http://naiblackblog.com/2017/12/matilda-apartments-prime-living-in-spokanes-university-district/ Property Management Matilda Apartments, Prime Living in Spokane’s University District Located in the heart of Spokane&#8217;s University District, The Matilda offers an incredible location next to the Gonzaga campus; the Spokane Riverpoint Eastern Washington University, Washington State University, and University of Washington campuses; quick access to the downtown Spokane nightlife; and amazing recreational opportunities on the nearby Centennial Trail. You’ll love living at Spokane’s newest [&#8230;] Sat, 16 Dec 2017 08:00:05 Z http://naiblackblog.com/2017/12/matilda-apartments-prime-living-in-spokanes-university-district/#respond NAIBlack-Blog <p>Located in the heart of Spokane&#8217;s University District, The Matilda offers an incredible location next to the Gonzaga campus; the Spokane Riverpoint Eastern Washington University, Washington State University, and University of Washington campuses; quick access to the downtown Spokane nightlife; and amazing recreational opportunities on the nearby Centennial Trail.</p> <p>You’ll love living at Spokane’s newest premium apartment community. With luxurious one, two, and three bedroom modern apartment suites there is a home here to perfectly suit your needs. Don’t forget to ask about one of our top floor three bedroom, two and half bathroom suites!</p> <p><img data-attachment-id="147" data-permalink="http://naiblackblog.com/2017/12/matilda-apartments-prime-living-in-spokanes-university-district/matilda-spokane-kitchen/" data-orig-file="https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?fit=1920%2C1080" data-orig-size="1920,1080" data-comments-opened="1" data-image-meta="{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}" data-image-title="matilda-spokane-kitchen" data-image-description="" data-medium-file="https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?fit=300%2C169" data-large-file="https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?fit=1024%2C576" class="aligncenter size-large wp-image-147" src="https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?resize=1024%2C576" alt="" width="1024" height="576" srcset="https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?resize=200%2C113 200w, https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?resize=300%2C169 300w, https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?resize=400%2C225 400w, https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?resize=600%2C338 600w, https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?resize=768%2C432 768w, https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?resize=800%2C450 800w, https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?resize=1024%2C576 1024w, https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?resize=1200%2C675 1200w, https://i2.wp.com/naiblackblog.com/wp-content/uploads/2017/12/matilda-spokane-kitchen.jpg?fit=1920%2C1080 1920w" sizes="(max-width: 1024px) 100vw, 1024px" data-recalc-dims="1" /></p> <h2><strong>A Green Lifestyle at The Matilda</strong></h2> <p>Harnessing nature’s own geothermal energy from geothermal reservoirs near the ground’s surface, The Matilda will be utilizing a state-of-the-art geothermal heating and cooling system. Enjoy a 50-70% reduction in your heating bills and a 30-40% reduction of your cooling bills! Luxury and energy efficiency are a reality while living at The Matilda.</p> <p>The Matilda is managed by NAI Black Apartments. For more information contact:</p> <p>Phone : 1-509-844-1617</p> <p>Email : matilda@naiblack.com</p> <p>&nbsp;</p> http://naiblackblog.com/2017/12/matilda-apartments-prime-living-in-spokanes-university-district/feed/ 0 145 2017-12-16 08:00 +00:00 2017-12-16 02:00 -06:00