Updates to Force Majeure in Commercial Real Estate Contracts

The COVID-19 has upended nearly every aspect of life this year, and commercial real estate has felt these effects in all sectors. One of the changes coming to CRE as we move through the pandemic, and in the years to come is how “Force Majeure” language in contracts will be updated.

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Our New Vocabulary

Over the last few weeks, these words and phrases became part of our daily lexicon when discussing how to navigate the Covid-19 situation.

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Legislative Issues Affecting Commercial Real Estate

Two people shaking hands over a real estate deal.

 

Every year members of Oklahoma Commercial Real Estate Associations present issues to our State and National Representatives. Last week I had the pleasure of traveling to Washington, DC to meet with Senator Inhofe, Senator Lankford, and Representative Hern.

During our meetings on the hill we discussed a number of issues affecting Commercial Real Estate owners and other industry actors: (more…)

Brookwood Apartments Have a New Owner & Management Company

Exterior view of Brookwood Apartment Complex managed by McGraw Commercial Properties.

 

The Brookwood Apartment Complex Has Sold

The 100-unit complex in Owasso, Oklahoma sold for $5.75m in January 2020 to Shakiba Capital. McGraw Commercial Properties Multi-Family team was able to broker the deal with the Houston based group.  This was Shakiba Capital’s second acquisition in the last six months, and Winfield Property Management with McGraw REALTORS® will be taking over the management of the property. (more…)

Maintenance and Repair Responsibilities for Commercial Property Management

Two maintenance workers fixing an outdoor air conditioning unit.

When leasing space to business tenants, investors and business owners understand maintenance responsibilities are key to keeping tenants happy and play a part in long-term tenant retention. How well a building is maintained directly reflects an owner’s commitment to creating a positive space in which business tenants can work productively.

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What are the Pros and Cons of Buying vs. Leasing Office Space?

Renovated open office space in an older building.

Business owners contemplating the tough decision of buying vs. leasing office space take a variety of factors into consideration in order to make the best long-term choice. While leasing commercial real estate offers quick-start solutions, buying provides multiple long-term benefits. Here are some facts to consider while weighing the pros and cons of leasing vs. buying the right office space for your business.

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10 Things to Look for in a Commercial Property Management Company

"For Lease" signs along a city street in front of a large building.

Property management can be time-consuming and dilute your focus on your primary goals. That’s one of the many reasons to secure a working relationship with a trustworthy property management company. A well-managed and well-maintained property attracts and keeps the highest quality tenants, assuring you success in your commercial real estate investment. A good property management company provides a smooth leasing process, timely maintenance, monthly rent collecting, and accurate financial records and reports.

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14 Best Practices To Create an Annual Budget And Manage Your Commercial Property

Two business men going over graphs and data points related to a business.

Property investors and business owners desiring to obtain commercial properties, expand their business, and make a profit know how important it is to create an annual budget to manage properties both wisely and prudently. When it comes to annual budget projections as well as tax benefits, the new year offers the optimal opportunity to plan ahead for the success of investment properties in 2019.

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