Southcreek News

Broker’s Fees for Finding Commercial Realty in Kansas City

If you are thinking of working with a real estate broker, you might first want to find out a little about their fees. Here is some more information about what commercial real estate brokers charge:

The broker’s fee usually corresponds to the size or complexity of the transaction. There are some standards in the industry for brokerage fees, but since it is a commission-based arrangement, often the fees will vary.
Fees usually consist of a percentage of the financial value of the lease being negotiated. Often leasing commissions are about 5-6% of the aggregate lease value, which is the term of the lease plus monthly rent. Usually these fees are limited to only the first 10 years of the term.
Fees are often negotiable, but property demand will factor into the likelihood of you getting a lower fee. For instance, a broker may lower a fee in a depressed real estate area just to make a sale.
Be sure you know in advance exactly what you are getting charged in advance, and be aware of any additional fees for performing a search, listing a property, or any other services.

Be sure to check carefully into what you are being charged for and know what is a normal price when you begin working with a commercial real estate broker.

If you would like to learn more about commercial space for lease in Overland Park, give a DDI commercial real estate broker in Overland Park a call at 913-685-4100!

Since real estate agents and brokers are in this business to make money, they can, on occasion, put their own needs ahead of yours, by turning down potential deals from which they cannot make enough money on a commission. This is neither ethical nor legal. Make sure that if you’re selling a property, the agent or broker adheres to the law and tells you about all offers, even if some are low and won’t yield the hefty commission checks they’d prefer.

Media Services Southcreek Office Park Discount

The start of a new year is a good time for you to get your business organized. You might want to eliminate file drawers by getting rid of documents you no longer need and scanning the ones you do to electronic files. Or perhaps you would just like to store some records in a safe location. Media Services, Kansas City’s locally-owned, full-service record center, is currently offering a discount to Southcreek tenants for a first service invoice! You can choose from one of the five services they offer:

Secure Recycling and Shredding
Storage and Management of Records
Document Scanning
Backup Tape Vault
E-Cycling

If you tell them you are from Southcreek Office Park, you can get ½ off on your first regularly scheduled service invoice! For more information or to set up a tour, contact Tanner Rapelye at (o) 913-754-7776×113 or (c) 816-718-5812, or send an email to JTR@MediaServicesNow.com! Get your office organized and ready for a new year!

If you are looking for commercial space for rent in Overland Park to relocate your business to this year, give a DDI commercial real estate broker in Overland Park a call at 913-685-4100 to talk to us about the spaces Southcreek Office Park currently has available!

Sprint Center Tickets Through Southcreek Office Park

Looking for the perfect holiday gift for a Disney Princess fan or a budding basketball star? Or maybe you just want to find something fun to do in Kansas City while the family is in town for the holidays? Check out the Southcreek Office Park discounts for upcoming Sprint Center events to see if any of them fit your holiday needs:

Quidam: Cirque Du Soleil
Wednesday 12/26 7:30 pm
Thursday 12/27 7:30 pm
Friday 12/28 3:30 pm
Sunday 12/30 1:00 & 5:00 pm
Offer expires: 12/19 at 5:00 pm

Sesame Street Live: Can’t Stop Singing
Thursday 1/17 7:00 pm
Friday 1/18 10:30 am & 7:00 pm
Saturday 1/19 10:30 am, 2:00 pm & 5:30 pm
Sunday 1/20 1:00 pm & 4:30 pm
Offer Expires: 1/10 at 5:00 pm

Harlem Globetrotters
Saturday 1/26 at 2:00 pm & 7:00 pm
Offer Expires: 1/18 at 5:00 pm

Disney on Ice: Rockin’ Ever After
Thursday 3/28 7:00 pm
Friday 3/29 7:00 pm
Saturday 3/30 11:00 am & 7:00 pm
Offer Expires: 3/13 at 5:00 pm

Remember that that these tickets are subject to availability and while supplies last, so take advantage of them soon! Call Heather at 816-949-7147 Monday – Friday between 9:00 am – 5:00 pm to place your ticket order. The only fee is a $1.25 handling fee.

If you would like to learn more about the deals and opportunities available to your business if you choose Southcreek’s office suites for rent in Overland Park, give Kathy Woodward at DDI Commercial a call at 913-685-4100!

The Benefits of Using a Real Estate Specialist to Find Office Space Kansas

In smaller real estate markets, brokers and sales agents are often generalists. However, in larger cities, brokers and agents often have additional training and possibly accreditation in an area of specialization. There are a number of different ways to specialize:

Retail space
Industrial property
Office space
Real estate investments

Within each of these areas you might find further specialization:

Specific areas of retail, i.e. shopping malls
Investment brokers strictly specializing in real estate investment trusts (REITs)
Specific industries such as banks, law firms, technology companies, or call centers
Agents working with only buyers or sellers
Agents finding property for rent or lease

For each industry type you might be able to find a broker who has training and experience in that area and can strategically scratch your business with the best real estate for you. Larger firms often have many different categories with several specialists for each category, while smaller firms might either take a generalist approach or only focus on one area of real estate.

You will first want to determine the specific needs of your business before finding a specialist who can help you meet your needs. The benefit of using a specialist is that she or he will know the ins and outs of renting a specific type of property, and will be more likely to deliver a favorable outcome for your business rental.

If you would like to learn more about commercial realty in Kansas City give one of a commercial real estate broker in Kansas City a call at 913-685-4100!

Loan Agreements for Office Space in Overland Park KS

Once a lender decides to offer a loan to a business for commercial rental property, they will present the business owner with a commitment letter, or loan agreement, with the terms included. The loan agreement will usually include the following components:

The length of the loan
Interest rates (either variable or fixed)
Purpose of the loan (construction on a property, renting of a new property, refinancing)
Closing conditions
Affirmative and negative agreements regarding what the borrower does and does not agree to do
Owner occupancy requirements
Warranties and representation.

Once the borrower and lender have finished negotiating the terms of the agreement and mutually agree, the deal is closed, and the closing process for commercial real estate is usually more involved than for a residential mortgage, owing to different factors that might have to be considered in the process (everything from subleasing to zoning ordinances). This process could take up to two or three months, in some cases.

When negotiating a loan agreement to fund your office space rent in Kansas City, the key is to find a lender that will best meet the needs of your business and allow it to grow. Knowing the ins and outs of how to find and negotiate a loan can help put your business on track for growth.

If you want to find out more about affordable office space in Overland Park, give us a call at 913-685-4100!

Documentation to Prepare When Applying for a Loan for Office Space in Kansas City

Some lenders for commercial real estate loans specialize in funding specific types of commercial ventures, such as retail operations, warehouses, or apartment complexes, while others provide financing for a more general variety of commercial real estate ventures. However, despite the fact that there are many different types of financing and commercial real estate, most lenders are primarily concerned with the level of risk involved in giving out a loan. To assess this level of risk, they will want to see certain documentation from a business, so the best thing a business owner can do to start the loan acquisition process is to have the following paperwork in order:

Income and expense statement for the property that demonstrates a solid stream of income
Management team profiles
Financial statements on all principles involved as holders of the property
Property appraisal
Financial statements on the borrowing party
Plans for the use of the property

In addition, the borrower will also be asked to pay1-2% of the terms of the loan to show their commitment to the deal, which will be refunded once the loan is closed. Having your documentation ready and knowing what a lender is looking for in a potential loan candidate can help you secure your loan and put you one step closer to your ideal office space in Kansas!

Give Kathy Woodward at DDI Commercial a call today at 913-685-4100 to learn more about office rental in Kansas City through Southcreek Office Park!

Financing Sources for Commercial Realty in Kansas City

Businesses can look to a few different types of sources to fund their executive office rental in Overland Park: mortgage banking firms, regional banks, savings and loan institutions, private investors, and insurance companies. Financing for commercial real estate can involve very different terms, and the way deals are formulated is based on a few different factors:

Anticipated property use
Expected returns from the property
Type of real estate
Geography
Size of the real estate
Market risk conditions
Possible risk to the lender

A business owner should examine each of these areas carefully before looking for commercial real estate financing. It is also important to look at the different types of loans offered by different financial sources to see how they match up to your business’s needs and potential growth. Commercial real estate loans are different than residential real estate loans, in which the transaction is only based on the value of the property at the time of the sale—commercial real estate financing is partially based on the future value of your business. Knowing the different potential sources for office rental space in Overland Park funding as well as being familiar with the factors that go into structuring these deals can help you make an informed decision about how best to finance your acquisition of commercial rental property.

If you would like to learn more about available commercial real estate in the Overland Park area, give us a call at 913-685-4100!