Commercial Real Estate Leasing in Miami
As owner and leasing agent of nearly 800, 000 square feet of prime commercial retail shopping centers located all over South Florida, including Miami, Saglo Development is well-established in the commercial leasing industry as a company that remains committed to fair and courteous treatment of all our retail partners during and after completion of leasing negotiations.
Saglo understands how vital it is to for leasing plans to be implemented as soon as possible and strives to exceed the expectations of every one of our retail partners. Our multifaceted, highly professional approach to conducting a commercial leasing business has also contributed to the superior marketability of our south Florida properties.
We provide the following services concerning the commercial leasing process:
- Lease negotiations—our representatives will keep your best interests at the forefront of the lease negotiation process by providing expert advice about important items such as space needs, determining building classification (A, B, C or D) and parking ratio.
- Lease document preparation—we will explain the preparation of the lease document in detail and answer all questions you may have regarding lease specifications
- Marketing and property positioning—Saglo works closely with clients interested in developing powerful marketing strategies to promote a unique brand identity and examine competitor motives to ensure successful implementation of your property
- Aggressive approach to replacement or renewal of tenants months before expiration of a lease in order to minimize vacancies
- To maximize the success of our tenants, we actively pursue meticulous selection of new tenants to achieve an optimal retail mix at each of our centers
Definitions of Common Commercial Leasing Terms
During the lease negotiation process, you may encounter unfamiliar terms related to the industry. Definitions for frequently used terms include:
- Rentable square feet—the Building Owners and Management Administration (BOMA) defines rentable square feet as “usable square feet” in addition to part of the common area. RSF is calculated by taking the usable square feet amount and adding the percentage of the building’s common area, which is divided among the other tenants leasing areas of the building based on the percent of a tenant’s usable square feet.
- Usable square feet—indicates the square footage amount used only by the tenant. USF generally includes such areas as closets, rest rooms and other storage facilities
- Load factor—this is the calculation of the monthly rental costs that combines a percentage of common area square feet and usable square feet. Areas included in the load factor equation are elevators, lobbies, common hallways and stairwells
- Double net lease—a commercial lease in which the tenant pays part of or all of the insurance and taxes associated with using the property.
- Fully serviced lease—when the tenant agrees that the monthly rent on a building includes specific services such as trash collection, water and sewage and property taxes, then he or she is said to have agreed to a fully serviced lease.
Saglo commercial leasing representatives will fully explain all lease types and provide constructive advice concerning the type of lease that is best suited for your needs. Each lease negotiation process is individualized to benefit the customer in every way possible, with our ultimate goal leading to a long-term, satisfying relationship with all clients.