5 Commercial Real Estate Investment Mistakes to Avoid

Thu, Aug 29th 2019 4:41 pm by Kaley Briesmaster

Commercial real estate can be financially rewarding, but like with most major investment opportunities, it comes with risks. To set yourself up for the best possible chance of success, its key to do your research, make calculated decisions that fit your long-term goals, and avoid making costly mistakes. We’re sharing our insight on five common pitfalls that are easily avoided when purchasing a new commercial investment property:

  1. Rushing the Due-Diligence Period. The due-diligence period of a commercial transaction can be tedious, time-consuming and expensive – but it’s worth it. An investor looking to out-bid other parties and close on a property quickly may sacrifice steps throughout ...

Simple Answers to 10 Common Commercial Real Estate Questions

Wed, Aug 21st 2019 7:29 pm by Kaley Briesmaster

If you’re new to commercial real estate, understanding the industry lingo, how commercial transactions operate, and exactly what commercial brokers do can be confusing. In this blog post, we’re compiling the 10 questions we get asked most often and answering them in the simplest terms possible.

If you’re still learning all the terms that frequently come up in the CRE industry, you can browse through these posts from our CRE101 Series:  

  1. What is the biggest difference between commercial and residential real estate? ...

4 Tips for Making Your Office Space Appeal to a New Generation of Workers

Tue, Jul 30th 2019 5:38 pm by Kaley Briesmaster

Recently, Forbes published an interesting article outlining how the millennial-led gig economy is impacting the commercial real estate industry. The piece focuses on the mass urbanization from millennials and Gen-X’ers, their demand for flexible workspace, and how these generational trends are changing the way commercial office space is viewed, leased, and utilized.

Although office space can be more volatile than other commercial assets, when managed appropriately, they can be well worth the investment, generating monthly cash flow and building equity over time. Office buildings also come in a wide range of sizes and often qualify for flexible financing, making these properties approacha...

Area Focus: Dorchester/Berkeley Counties

Fri, Jul 19th 2019 5:31 pm by Kaley Briesmaster

Throughout our ongoing “Area Focus” series, we’re exploring the regions of Charleston that are growing, changing, and evolving the most. Read more about it here and check out the posts below for the rundown on some of the other areas around town undergoing significant changes and development:

The Rundown: More than 30 people move to Charleston every day, and they need affordable places to live – enter the sprawling master-planned communities of Dorchester and Berkeley counties. Once mainly comprised of bedroom communities, the area has exploded with an abundance of shopping and restaurants alongside other amenities...

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Choosing the Best Location for Your Business

Fri, Jun 28th 2019 5:21 pm by Kaley Briesmaster

Choosing a space to conduct business can be a time consuming and confusing process. You have to consider many factors, including how the space will be used for your business needs, cost, size, lease details, and so much more. Like with any real estate investment, the location should be at the top of this list.

The type of business you have will largely determine the best location for you. For example, choosing a site with heavy foot traffic is essential to customer-driven business such as retail shops and restaurants. On the other hand, an office building will need to be central for the employees who work there, and a warehouse distribution center will likely benefit being close to major...

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Area Focus: Mount Pleasant

Fri, Jun 21st 2019 2:12 pm by Kaley Briesmaster

Throughout our ongoing “Area Focus” series, we’re exploring the regions of Charleston that are growing, changing, and evolving the most. Read more about it here and below are links to the areas we’ve covered to date:

Plenty of Charleston’s surrounding areas are amid a resurgence or new development boom, but one of the city’s most desirable and more established suburbs is seeing tremendous growth – Mount Pleasant.

The Rundown: Originally founded in 1860, Mount Pleasant is Charleston’s oldest suburban town and the city’s original sleepy coastal village. Today, it is the fourth largest municipality and the largest town in South Car...

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CRE101: The Types of Commercial Properties

Thu, May 30th 2019 5:04 pm by Kaley Briesmaster

Once you’ve decided to invest in commercial real estate, you may need to consider the type of property that is right for you, as each comes with certain upsides as well as unique challenges.

Office Space. Whether it’s a high-rise in the city or a business park in the suburbs, office buildings can be home to multiple tenants or rented to one tenant with larger needs. Many office buildings are build-to-suit and all will be categorized into Class A, B or C.  The below definitions of each are provided by The Building Owners and Managers Association International (BOMA):

Class A. Most prestigious buildings competing for premier office users with rents above average for the area. Buildings ha...

Area Focus: John’s Island

Fri, May 17th 2019 2:48 pm by Kaley Briesmaster

Throughout our ongoing “Area Focus” series, we’re exploring the regions of Charleston that are growing, changing, and evolving the most. Read more about it here.

Here are links to the previous posts in the series so you can get caught up:

The areas we’ve explored to date have mostly undergone a recent boom in revitalization and development. In the next couple of blogs, we’ll be looking at some long-standing Charleston suburbs that have always been on the map but are home to recent developments – starting with Johns Island. 

The Rundown: Johns Island used to be thought of Charleston’s “rural” suburb, far from restaurants, shopping, jobs, and oth...

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The True Cost of Owning Commercial Property

Wed, May 1st 2019 7:27 pm by Kaley Briesmaster

If you own commercial property or are considering it, your goals likely include adding a major investment to your portfolio and turning a profit. Whether you are aiming for significant monthly income or see your property as a long-term asset, its important to understand all of the costs that go into owning a large building filled with tenants. Just like owning a home, some expenses are planned and upfront while others can come as a surprise and create a financial burden if you are unprepared. 

Here is a broad overview of major expenses you can expect throughout a year of operating:

Property Taxes. Taxes are a part of life and will be one of your most significant planned expenses. Depend...

Area Focus: Reynolds Ave.

Tue, Apr 16th 2019 5:36 pm by Kaley Briesmaster

If you’re curious what our Area Focus series is all about, you can read more about it here.

We’re exploring the areas of Charleston that are growing, changing and evolving the most.

Previous posts explored the Upper Peninsula and NoMo, both areas that have gained popularity in recent years thanks to restaurants, business development, and neighborhood gentrification. The next area we’re exploring is the lesser-known, up-and-coming region surrounding Reynolds Ave.

The Rundown: Situated on the northern end of “the neck” [of the peninsula], Reynolds Ave. was once one a thriving commercial district. The mid-90s closing of the Naval Ship Yard and the suburban migration left the area discar...

5 Simple Tips That Will Help You Fill Your Commercial Lease Vacancies

Tue, Apr 2nd 2019 7:12 pm by Kaley Briesmaster

Whether you’re the proud new owner of a commercial investment or are looking to fill a spot left by a tenant that has moved on, filling vacancies can be a stressful and time-consuming process. Unlike residential units, which are easy to turn over quickly, commercial properties are more complex and can take months to fill even when you do everything right. These simple tips will help you find new tenants and get them settled as quickly as possible:

  1. Work with an experienced leasing agent. Enlisting the help of a professional will alleviate much of the legwork on your end and make the process as smooth as possible. Experienced commercial agents are in-tune with the market and can help you...

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Area Focus: NoMo

Mon, Mar 18th 2019 6:07 am by Kaley Briesmaster

If you’re curious what our Area Focus series is all about, you can read more about it here

We’re exploring the areas of Charleston that are growing, changing and evolving the most. Last week, we covered one part of the Upper Peninsula, and this week we’re talking all about this area’s other hot neighborhood – North Morrison.

  • The Rundown: Whether you call it North Morrison, NoMo, Half Mile North or something else entirely, there is no denying this regentrifying area of town is making a name for itself. The areas of the Upper Peninsula meld into one another, but we define NoMo as the area that lies between Morrison Drive and Meeting Street, bounded by Huger Street to the south and Gre...

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Area Focus: Upper Peninsula

Wed, Mar 6th 2019 5:11 pm by Kaley Briesmaster

Curious what our Area Focus series is all about? Read more about it here.

Essentially, we’re giving you a rundown on the areas of Charleston that are growing, changing and evolving the most – starting with the Upper Peninsula. Many people lump the North Morrison corridor into the Upper Peninsula but we think this stretch is deserving of attention on its own so this will be in our next post (including Charleston’s best spots for BBQ!)

The Rundown: Charleston’s Peninsula is the heart of the city but the areas to the north of the crosstown were often overlooked in favor of cobblestone streets and waterfront antebellum mansions. The area, known to locals as the “Upper Peninsula,” is in the ...

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Exploring Charleston’s Neighborhoods on the Rise

Mon, Feb 18th 2019 4:15 pm by Kaley Briesmaster

Charleston is growing and expanding faster than any other time in its history. With the metropolitan area now stretched across three counties and pockets of our historical city continually evolving, it can be hard to keep track. 

In this new series, we’ll be taking a look at the areas that are changing the most. We’ll look at recent developments and upcoming projects that are shaping areas of our community as well as provide insight into the people living and working in each area and the overall ambiance each neighborhood embodies. Before we dive in over the next few months, here’s a quick summary to give you the lay of the land (pun intended):

  • Upper Peninsula – Ask anyone who’s lived...

Top Tips For Attracting Commercial Tenants That Are Right For You

Mon, Feb 4th 2019 5:52 pm by Kaley Briesmaster

You’ve searched for the perfect commercial investment space, gone through the necessary steps to purchase it, and suffered through lengthy renovations and building improvements. After months of hard work and stress, it can be tempting to fill your building with the first tenants that come along, but that could be a costly mistake.

When tenants sign a lease with you, you’re agreeing to an ongoing mutual relationship that will hopefully last for many years. Tenants that are responsible and profitable will be the key to your success, but it’s also important to find tenants that are a good fit for your space so that the arrangement is in the best interest of everyone involved.  

Keep these ...

Throwback: Iconic Commercial Buildings in Downtown Charleston

Wed, Jan 23rd 2019 4:42 pm by Kaley Briesmaster

Charleston is full of wonderfully preserved historic buildings and homes. The decades of history shine through many parts of the city through colors, textures, and clear signs of architecture from a different time. While our city works tirelessly to preserve the rich past, time marches on, and the city must also adapt and change to meet the needs of its community and appeal to visitors.

Downtown is home to several historical and iconic commercial spaces. They blend seamlessly with the cobblestone streets and bustling restaurants and shops. If you aren’t looking for them, they can be easily missed – but not because they are not meaningful – they merely have been in place for so long they ...

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6 Commercial Real Estate Trends That Will Impact the Lowcountry in 2019

Mon, Dec 31st 2018 2:29 pm by Kaley Briesmaster

As we look toward the year ahead, we’re taking a look at six trends we expect to shape the Lowcountry commercial real estate market in 2019.  

  • E-Commerce Influence. As the buying and selling of consumer products moves online and customers continue to expect expedited shipping, the need for warehouse fulfillment centers will continue to rise in 2019. E-commerce behemoth Amazon has plans to open a 17,236 square-foot warehouse across from the Exchange Park Fairgrounds in Ladson, and we expect similar operations from various online retailer to pop up around the area.

  • Reinvestment in Retail. We talked in another blog post about the many benefits that come with a physical storefront in the ...

Welcome Sarah Tamsberg

Tue, Dec 11th 2018 3:41 pm by Kaley Briesmaster

Simply Commercial is excited to welcome Sarah Tamsberg to the team! An 11th generation Charlestonian, Sarah grew up around the family business of real estate investment and development and is eager to jump in and start helping her clients reach their real estate investment goals.

Sarah started her career in design as a consultant helping clients transform their homes into functional and beautiful spaces. During this time, she discovered her passion for creating and maintaining long-term relationships with clients and was drawn back to real estate.

Sarah is an innovative and tenacious problem solver. She enjoys assisting clients new to real estate investing and has a special talent for h...

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CRE101: Breaking down commercial real estate lingo – Part 2

Mon, Dec 3rd 2018 1:30 pm by Kaley Briesmaster

In case you missed our first installment of CRE 101 – check it out here. Each post in this ongoing series covers basic topics to help you understand the world of Commercial Real Estate (CRE). We’re starting with some basic terminology, so you won’t get hung up on the lingo as you learn along the way. 

In Part 2, we’re still focused on broad and basic terms that relate to CRE overall. Be on the lookout in the coming weeks for posts that will dive into terms specific to office buildings, retail space and more.

  • Cash and Cash Return (AKA ROI). Cash and cash return is also known as your return on investment and the reason you’re probably interested in CRE investments. This number represent...

CRE101: Breaking down commercial real estate lingo - Part 1

Tue, Nov 27th 2018 1:15 pm by Kaley Briesmaster

We realize decoding the Commercial Real Estate (CRE) industry can be overwhelming and confusing – that’s why you should always hire an experienced commercial agent to assist you along the way. We’re also excited to offer a new blog series called CRE101, where we’ll be covering basic topics to help you understand the ins and outs of our world. Whether you are just starting out or are a seasoned investor, there will be something for everyone.

With a plethora of acronyms and convoluted phrases making up the CRE dictionary, we’ve compiled a list of need-to-know terms and broken down exactly what each means.

To make it easier to read, we’re breaking it down into a few posts starting the broa...

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