Blog2019-05-22T12:39:52-05:00

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Regent Commercial Real Estate is pleased to welcome new team member, Barrett Fowler

Barrett brings over a decade of experience in multiple facets of commercial real estate, including development, finance and corporate real estate. Prior to joining Regent Commercial Real Estate, Barrett served as the Transaction Director for CBRE on the Regions Bank account where he managed a team of brokerage professionals responsible for office, retail, and ATM transactions across Regions’ 16-state portfolio. He also held various and progressive roles in Bank of America’s corporate real estate group.

Barrett specializes in and advises clients throughout the Southeast on:

Representative Transactions:

  • Disposition of 400+ retail bank branch properties
  • Acquisition of 60,000 square foot office building in Raleigh, NC
  • Acquisition of 800,000 square foot retail mall in Roanoke, VA
  • Sale-leaseback of 150,000 square foot office building in Coral Gables, FL

Education and Designations:

  • BSBA, Auburn University
  • MBA with concentration in Real Estate, University of Georgia
  • Certified Commercial Investment Member (CCIM)
  • Licensed Real Estate Broker, North Carolina
  • Licensed Real Estate Broker, South Carolina
  • Licensed Real Estate Broker, Alabama

In his spare time, Barrett enjoys spending time with his wife, Carrie, and three children, Owen, Emery, and Ethan. He also enjoys hiking the mountains of Western North Carolina, all things bluegrass, cycling, and is a die-hard Auburn fan.

Barrett can be reached at 704.219.0908 or barrett@regentcre.com

You can also connect with Barrett on LinkedIn. 

Thank you for a great 2019!

As we start a new decade, it is a great time to reflect and be thankful for all of the people and businesses that I have been able to help last year. In addition to helping clients with commercial real estate needs in the Charlotte, North Carolina market area I was also able to help clients with requirements in the following market areas in 2019:

Boiling Springs, South Carolina
Beaufort, South Carolina
Charleston, South Carolina
Columbia, South Carolina
Asheville, North Carolina
Raleigh, North Carolina
Greenville, South Carolina
Spartanburg, South Carolina
Winston-Salem, North Carolina
Greensboro, North Carolina
Knoxville, Tennessee
Birmingham, Alabama
Cincinnati, Ohio
Atlanta, Georgia
Orlando, Florida

If you have a commercial real estate requirement in North Carolina, South Carolina, or another market in the South East I would like to have an opportunity to speak with you to find out how Regent Commercial Real Estate can partner with your company to maximize your commercial real estate opportunities.  Thank you!

Brian Smith can be reached at 704.910.9518 or brian@regentcre.com

 

A Year End Checklist to Determine if You are in the Right Commercial Space

As we near the end of another year, many people like to take stock of 2019 and make plans for 2020. While the most common resolutions are to eat healthier, lose weight, or quit a bad habit, you might want to considering making some professional resolutions. If you haven’t put much thought into your commercial space needs, now is the perfect time to assess your current office/warehouse/retail space and determine if it will still work for you in the new year (and beyond). Even if you have some time left on your lease, it would be in your best interest to havea game plan in place now.

Here are a few items to consider when evaluating your commercial space needs…

SIZE

Finding the right office space is a little like the Goldilocks and the Three Bears story. It shouldn’t be too big, or you will find yourself wasting money on space you are not utilizing. If you don’t have plans to expand there is no reason you should be paying forspace you will never need.

It also shouldn’t be too small. If your conference room has become a workstation(s), or if you are using your break room for overflow storage, it is probably time to start looking for more space. Crowded and inefficient workplaces will start having a negative effect on your employees.

Your space needs to be just the right size for you and your employees. With the right amount of square footage, you will be able to achieve an efficient layout that utilizes the entire space. Plus, you will only be paying for the amount of space you truly need.

LOCATION

While many things in a commercial space can be changed, location is not one of them. If you find yourself in a location that doesn’t meet your expectation, or you are pining to be in the hottest and newest part of town, you might want to start making plans to relocate. There are many factors that go into relocating, but the most important one is to start planning early.

AMENITIES

You will find properties offering all kinds of amenities. Some amenities are pretty basic, like security and reliable infrastructure. Some are nice to have, like close proximity to transit and food and beverage options. Premium options like a health/fitness center or rooftop deck will be offered in the higher end buildings. Maybe take a quick survey of your employees and see if they are happy with their current amenities.

COST

Rent can be one of your biggest expenses in business. Are you confident you are paying market rates? If you signed a lease without representation you might want to consider having a tenant rep broker review your lease and determine if your rate reflects the market. Don’t keep throwing money out the window if there are better alternatives out there for you.

You do not have to settle for a so-so home for your company. If you have any doubts about your current space, you should make it your 2020 resolution to thoroughly review your real estate situation with a qualified commercial broker. They can give you an unbiased recommendation and advise you on future real estate decisions.

Brian Smith, CCIM, is the owner of Regent Commercial Real Estate. He is excellent at helping his clients find their ideal space.

By |December 23rd, 2019|Categories: Blog|Tags: , , , , , , , , |Comments Off on A Year End Checklist to Determine if You are in the Right Commercial Space

Brian Smith Shares Commercial Real Estate Insight During a Podcast About Space Planning

Brian Smith, founder of Regent Real Estate CRE, was a recent guest on Loc-Doc Security’s Coffee Break podcast (Loc-Doc has been a long-term client). Brian sat down with Chad Lingafelt, Managing Partner of Loc-Doc, to discuss the space planning process they went through during the expansion of their office/warehouse/showroom in Charlotte, North Carolina. Specific examples are given that relate to Loc-Doc’s deal, but most of the podcast is a very informative conversation that will interest anyone who has commercial space or will be looking for commercial space. It is a great testament to the benefits of having a partnership with a tenant rep broker. Plus, it’s a great way to get to know a little more about Brian!

Brian Smith, CCIM, is the owner of Regent Commercial Real Estate. He excels at assisting his clients find the best space for their needs.

Loc-Doc Security serves all of North and South Carolina. Their services include key card systems, cameras, doors, locks, and keys

 

By |December 13th, 2019|Categories: Blog|Comments Off on Brian Smith Shares Commercial Real Estate Insight During a Podcast About Space Planning

A Quick Overview of Commercial Lease Types

There are a number of ways to structure a commercial lease, and it comes down to how expenses are shared between the landlord and tenant. Here is a quick overview of the most common ones. However, it should be noted that there can also be some variations of these categories.

Gross Lease (also known as a Full-Service Lease)

In a Gross Lease, the tenant pays a fixed rate that will only increase with predetermined annual increases agreed to in the lease agreement. The landlord is responsible for paying all the building expenses (taxes, insurance, maintenance, etc.). Because they assume all the risk, gross rents tend to be higher than other types of leases. This is attractive to tenants because they can plan on a consistent rent payment as there are no surprise expenses.

For example, if utilities were higher than the landlord anticipated, they must absorb that cost.They cannot ask the tenant to pay the difference. However, if utilities are lower than they anticipated they get to pocket that money. They do not pass on those savings to the tenant.

Net Lease

With a Net Lease, the tenant is responsible for paying a fixed base rate, plus some (or all) of the operating costs of the building. These expenses can include taxes, insurance, and common area maintenance (TICAM). TICAM charges can include janitorial, property management fees, utilities, landscaping, and maintenance of commonly shares areas/services. Expenses are reconciled yearly, so the TICAM rate will fluctuate. The tenant’s cost is proportionate with their square footage. Meaning if they occupy 1,000 square feet in a 250,000 square foot building, their proportionate share of the building’s expenses will be 4%. **

For example, if expenses were higher than expected after reconciliation, the landlord will give the tenant a bill for the difference. However, if expenses were lower than expected the landlord will give the tenant a credit.

Net leases can be further classified as:

Single Net: the tenant pays for property taxes in addition to rent.
Double Net: the tenant pays for property taxes and insurance in addition to rent.
Triple Net: the tenant pays for property taxes, insurance and CAM in addition to rent. This is the most common type.

 All leases are unique. Some may contain a gross up clause that will increase your proportionate share of expenses. Please consult with a tenant rep broker who can explain your rights within a lease.

Modified Gross Lease

A Modified Gross Lease requires the tenant pay a fixed base rent and their proportionate share of some, but not all, of TICAM expenses. It is typical for the tenant to pay janitorial and utilities directly, and these out of pocket expenses are determined during lease negotiations. This type of lease is a nice compromise for tenants that are looking for a consistent lease payment, while still being able to have control over some of the expenses.

Ultimately the landlord has control over the type of lease they require for their property, but you have some control over the terms. An experienced tenant rep broker will be able to walk you through all the proposed terms of a lease and advise you during lease negotiations.

Brian Smith, CCIM, is the owner of Regent Commercial Real Estate. He specializes in the Charlotte area.

By |November 20th, 2019|Categories: Blog|Comments Off on A Quick Overview of Commercial Lease Types

Understanding the Different Categories of Commercial Properties

You may be familiar with the basic types of commercial real estate, like office, retail, and industrial. But in reality, there is so much more. I’ve broken out the most common.

Office

Office buildings can range from single story to highrise buildings and can have one tenant, or multiple tenants. Typical tenants would be business, medical or dental professionals. Executive suites and coworking spaces also fall into this category. Office buildings are further broken down into Class A, B, or C.

Class A buildings are the newest, offer the best amenities, are in the most desirable location, and have the highest rents. They can even be separated into A+, A, and A-.
Class B buildings are a little older, may be due for some renovations, may be in a nice location, and have little to no amenities.
Class C buildings are the oldest, least maintained, are in the least desirable location, and will have the cheapest rents in the market.

Industrial

Industrial properties have several categories that are broken down based on their specific use.

Flex: includes a mix of office and warehouse space. Typically includes a dock high or drive in door.
Heavy Manufacturing: a special use property that is customized with heavy duty machinery for a specific end user.
Light Assembly: a special us property that is customized with machinery (that is smaller than a heavy manufacturer) for a specific end user.
Warehouse: very large spaces often used for storage or as a distribution center. The layout tends to be open space with high ceilings .Typically located near freeways/highways.

Retail

Retail properties come in many forms and are broken down into subcategories. Although they can be broken down further, these are the most common types:

Mall: an enclosed shopping center with tenants that include department stores, clothing retailers, a food court, full-service restaurants, and maybe a movie theater.
Neighborhood or Community Center: can also be called a plaza or strip mall and can vary in size. These are most often anchored by a pharmacy or grocery store. Small stores and restaurants fill out the rest of the space.
Power Center: these outdoor centers are home to multiple big box stores like Walmart, Target, Best Buy, or Home Depot. It usually includes smaller retailers and restaurants surrounded by a shared parking lot.

Multifamily

Multi-family residential buildings include apartment buildings, condos, and townhomes. Generally, anything residential that is larger than a fourplex is considered a commercial property.

Mixed Use

Mixed use properties can be a combination of any of the types of properties mentioned above. The most common form is retail/restaurant on the first floor with office and/or residential in space above. But really it could be a combo of just about anything.

Special Use

There are some properties that just don’t fit into any of the above property types. This catch all category includes self storage, hotels, medical, and anything else not defined in any of the above categories.

Land

This is undeveloped and raw land to be used for future development. City zoning codes will determine the type of commercial property that can be built here.

I hope this helps shed some light on the vast range of commercial property definitions. Every tenant is unique and has specific needs—a local tenant rep broker can help you determine the best space that will meet your needs.

Brian Smith, CCIM, owns Regent Commercial Real Estate and has over 10 year of experience in the Charlotte metro area.

By |November 15th, 2019|Categories: Blog|Tags: , , , , , , , , |Comments Off on Understanding the Different Categories of Commercial Properties