Michael Laureno

C.R.E.B. specialist in new project design and lease-up past 25 yrs.

Ellicott City, MD

(443)324-3416 

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LoopNet Member Since 2005

"None. The proceeds of the Seller side are placed with the 1031 Escrow agent to allow the Seller to find a replacement property within X days of closing. Buyer's side of closing settlement sheet is not affected."

In response to: if a seller is asking buyer to cooperate in the event the seller decides to go 1031, how would that affect buy

Answered by Michael Laureno via LoopNet Answers on Jan 10, 2012 - Like

"Is the restaurant owner the owner of the real estate?. Is the restaurant currently operating? Improvements that are part of the structure belong to property owner! Not the business owner. Equipment is chattel and can be removed by tenant ( unless tenant is in default) More info is needed before your question can be answered correctly."

In response to: How do I structure a deal for an owner that wants to lease a restaurant finished out with significant invstmnt

Answered by Michael Laureno via LoopNet Answers on Jan 10, 2012 - Like

"Mall tenants are comprised mostly of National Chains. The tenant mix is determined by Mall Mgt. for those smaller tenants between the anchor dept. stores. The base rent is generally higher PSF than the Retail Ctr. because the MALL generates customers for your tenant. Also the PASS-THRU's or additional rents items, surpass the usually "add ons". Malls charge for Advertising, and many types of management cost. It is not uncommon to add 30% to the base rent quoted. In addition, Mall leases contain clauses that mandate your store owner to redo stores appearance over the term. $$$$"

In response to: What is major difference with Shopping Mall lease vs. Retail Center? As a tenant rep, what do I need to watch

Answered by Michael Laureno via LoopNet Answers on Jan 10, 2012 - Like

"Your solution is simply. What is the LL's long term plan for the space?. Is there a better use for the restaurant space.? Is that the reason the LL will not make a deal with your tenant? Also the current Tenant cannot convey more than 3 years so, for a longer term you must sit down with the LL.! All purchase agreements must be contingent upon this occuring."

In response to: Landlord is not willing to assign the lease to a new buyer of a restaurant. What will be a creative way?

Answered by Michael Laureno via LoopNet Answers on Jan 10, 2012 - Like
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