Commercial Sales 101

Whether you own or would like to invest in a small commercially-zoned lot, mixed use apartments or condos, a large mixed-use office and retail complex, or even a land entitlement, you need agents with a strong understanding of what is required to successfully complete a commercial transaction. Below are just some of our specialties when it comes to commercial real estate:

– We have successfully negotiated leases for apartments, offices, retail and industrial spaces. We pride ourselves on being strong negotiators for our clients’ best interests.

Investment Strategy – Depending on your investment goals and desired return, we can help you evaluate the different commercial investment options that would be a good match for your goals. You may desire long term returns, short-term returns, or regular cash flow. Apartment buildings, land, or even project investments may all be candidates for your investment goals.

Feasibility – With a wide range of buildings and businesses that can be developed on a commercial lot, negotiating for a generous feasibility term is important. We are familiar with the items that need to be examined to determine if a project is feasible and have the resources to conduct that feasibility. We can:

  • Check for environmental concerns (by drilling, soil samples, and checking the chain of title for former problematic business activity on the lot such as gas station or dry cleaner). Phases 1 and 2 are also handled.
  • Work with surveyor to make sure project will work within the lot boundaries, setbacks and the topography. We will also determine the maximum building footprint and height allowed given all the laws that must be followed.
  • Work with the city and county planning departments
  • Work with the architect on the preliminary plans which may include site development, parking plan that works with area requirements, type of units, or number of units on the site that can be built.
  • Work on design review with the community
  • Work with the city on any art easements or requirement
  • With research, determine highest and best use for property whether it is already developed or is ripe for development
  • Project return on investment with any project changes that have occurred during the feasibility phase.

Lending – We have a number of different resources when it comes to finding funding for your project. We work with banks as well as with private investors. Commercial developments, raw commercial land or land for development, and residential developments all have different lending requirements. We are familiar with all of these and can connect you with the right lender for your project.

Closing  – Upon closing, we will verify that all conditions have been met, all leases with current tenants have been verified and updated if need be, and existing permits updated.

We have found that no two commercial transactions are the same. For example, we once worked on a project where there was a heron’s nest 200 feet away and we had to work with the city to proceed slowly on feasibility as to not disturb the birds but finish our study within the specified period of time. Another time we had to adjust plans based on an arborist’s recommendation regarding what trees could be cut and which stay. The City of Seattle is currently changing the building footprint and height ratios for commercial structures as well as the number of residential units that may be in an apartment complex. You need an agent who stays up-to-date on all of these developments and can adjust quickly to changing conditions.