Congratulations Andrew Winkler on Leasing 120 N. East Street
Another office space leased in Medina by Gerspacher Real Estate Group. Andrew Winkler worked to find a good match for 120 N East Street location.
246 W. Liberty St Closed in Only 86 Days
Keith Keltner and Morgan Faunce worked together to get this commercial office property out to the community and find a buyer quickly. Under contract after only 36 days on the market and closed by day 86! Congratulations to everyone involved in this successful deal.
Former Medical Office Space Leased
283 E Reagan Parkway is a 1,540 SF office suite that has been leased to O&P Services. Agent, Keith Keltner facilitated the lease of this space.
Understanding Types of Office Leases
Every commercial lease is unique. There are many different types of leases you may encounter when looking for office space. And even within the broad categories of lease types – the devil is always in the details. A Landlord may use terms like “operating expenses,” “CAM (common area maintenance,” “all third party expenses”, etc; which typically include real estate taxes, insurance, snow plowing/lawn maintenance and may or may not include repairs.
Again, since every lease is unique, what is important is that you fully understand what expenses you will be responsible for and what expenses the Landlord will pay.
In General, the broad categories of lease types include:
Full Service Gross Lease – Tenant pays flat rental amount and Landlord covers all operating expenses and utilities
Gross Lease – Tenant pays flat rental amount + utilities and Landlord covers all operating expenses
Modified Gross Lease – Tenant pays flat rent + utilities and some of the operating expenses
NNN Lease – Tenant pays base rent + utilities + operating + taxes, insurance and repairs
If your lease is expiring make sure to explore the options in the market we have available. Let Gerspacher Real Estate Group assist you in finding your next office space and help you understand your lease structure.
