Commission ballparks for commercial lease TN or MI
Looking for commercial broker commission samples for a 40,000sqf industrial 10-yr lease at $5/sqf in MI or TN to compare. High-end low-end range is fine, or real world experiences.
thx
-pt
Most Popular Reply
Hey Thomas,
Commissions are negotiable and there is no standard. That said, I can only tell you from my experience and what I have charged. I did a 5 year industrial lease in Memphis where I represented the tenant. I got paid 4% of the full gross lease value over the entire 5 years. I don't know what the landlord broker made but I wouldn't be surprised if it was 2-3% of the lease value.
I can't speak for Michigan personally but I would imagine it is similar to most of the Midwest.
James Storey, CCIM