All Forum Posts by: Joshua Leite

@Will Barnard Has the next court date arrived yet? I've been lurking on this thread waiting for news!

What @Paul Falbo said is a great point to consider. Just because a tenant signs a lease agreeing they will maintain the building does not mean they will maintain it to your standards or even at all!

I've seen various NNN or modified Net leases where the tenant does not complete simple preventative maintenance on items like HVAC units (which end up with major repairs or need replacement) or parking lot repairs (asphalt and concrete are very expensive to replace).

While considering NNN leasing be sure that you or your representative visit the property periodically and following up with the tenant to be sure repairs/maintenance are actually happening. Requesting photo evidence or names of vendors used also helps when verifying repairs are made to the correct quality.

I would recommend looking into a "Videofied" system. The upfront cost can be pricey for residential (think between 1500-3000) with monthly monitoring costs of approx. $90 (at least for commercial). 

This system is motion activated and sends a 10 second video clip to you and the monitoring company. Many police departments now allow these alarms to be "priority" calls that they go directly to check out since it is verified by video evidence.

I am not affiliated with this product however I have and am using it at various commercial properties. We installed the video motion viewers with a strobe light and alarm siren. I've watched the 10 second videos of thieves/trespassers walk up and bolt after hearing the siren.

Experience: Commercial property management

Joshua

Tyler,

Clear height for industrial buildings is typically measured from the floor to the lowest structural point in the usable warehouse area (usually past the loading dock or just at the first column in from the loading dock/bay/speed way). In my experience the center of the warehouse can be 2-4' higher than the lowest points toward the perimeter or outer column lines.

I agree with Justin that is may be a good idea at this point to partner with an experienced broker in this space as there are many variations in industrial spaces that can impact business operations. Does the tenant need a certain fire suppression system in place? ESFR? Is there a certain GPM they need the sprinklers to produce? Will this affect the insurance they are able to obtain for their lease?

Experience: Commercial property management of industrial buildings of 185k sq ft to 520k sq ft.