Jim's Tips for Tenants and Buyers

• Tenants and Buyers always benefit by starting their search early

• Proposals from new, class “A” buildings should be looked at carefully for construction costs and more importantly-- what the Landlord provides with regard to the ceiling.

• For Buyers who will be owner / users: Expect to put down no less that 25% of appraised value.

• If buying a showroom / warehouse, pay particular attention to be sure there is enough electrical capacity for your needs. Many times this is an unforeseen defect and can be very costly to correct.

• Annual lease escalations have averaged 3% per year for some time now. We are now digging our heals in and insisting that 2% is all we accept. This can be a significant savings, particularly on long term and expensive leases.

• Hire an agent who knows all the lease terms on recent deals completed in your submarket of interest.

• Hire an agent who will read, negotiate and explain your lease in detail. Then hire an attorney who specializes in commercial real estate do the same.

• If you are within two years of your lease expiring, right now would be a great time to renegotiate.

My Three Favorite Buildings

• 191 Peachtree (Downtown) $24 full service, the standard for class A buildings

• 3344 Peachtree-- also called Sovereign (Buckhead) $33 full service, most beautiful new building in the Atlanta.

• Perimeter Summit (Central Perimeter) $27 full service. Great development, well managed, with multiple points of ingress and egress in an otherwise congested area.