Commercial Real Estate
Frequently asked questions
A full-service lease is a lease that has one, all-inclusive rental rate which includes both the base lease rate and the operating expenses combined into one figure.
A modified gross lease is a lease where the tenant pays base rent at the lease’s inception, but it takes on a proportional share of some of the other costs associated with the property as well, such as property taxes, utilities, insurance, and maintenance.
A triple net lease is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.
Typically, rent is calculated using the following equation: (Price Per Square Foot x Total Square Feet) / 12 = Monthly rent rate. However, other factors such as rentable SF and type of lease (Full-service, mod gross, NNN) can affect monthly rent. It is best practice to consult a commercial real estate professional to determine rent.
If you are a tenant or buyer, LevRose has an experienced team of experts who are available to help you find the right space. Depending on which type of property you are looking for (retail, office, industrial, land, etc.) we can pair you with the right advisor to help you find your space. As a tenant or a buyer, these services are at no cost to you.
If you are a seller or landlord, LevRose has an experienced team of expert who are available to help sell or lease your property. Depending on which type of space you have (retail, office, industrial, land, etc.) we can pair you with the right advisor.
The amount of a security deposit varies on a case-by-case basis and is typically presented in terms of months of rent. Security deposits will vary based on tenant credit but are also negotiable.
Oftentimes when leasing a space, the tenant representation broker can negotiate for a tenant improvement allowance (also known as TI, TIA, or TA). This is a pre-negotiated sum of money that a landlord will provide the tenant in order to cover all or a portion of construction costs. In many cases, the Landlord will facilitate the tenant improvements and in other cases the Tenant will take on that responsibility. Although this can often be negotiated when signing your lease, keep in mind that you will likely need to pay for these costs up front and your landlord will later reimburse you.