This 29-unit motel has been owned and operated for over 20 years by the current owner. All units are rented on a weekly or monthly basis (current rent roll available) and most units are well below market rents. With a growing need for affordable housing in the Denver metro area, properties like these are always in high demand; evidenced by the average tenancy being 4 years! Multiple investment strategies including converting to a multi-family asset, adding needed storage & laundry facilities- just to name a few! Download our brochure and contact us for additional information or to arrange a tour!
We are all experiencing some sort of heartburn with the current trying financial times, I know I am. Whether it's a depleted stock portfolio, diminished 401k or your tenants not paying their rent (or all the above), things will get better. Let me say that again,
things will get better. Now is the time to start thinking about how to best capitalize on future prosperity in this dark economic environment. Alliteration aside, let's talk about the
unique real estate situation we find ourselves in.
The Fed has taken several monetary policy actions to buoy the financial markets and the federal government is in the process of figuring out the best way to help those most impacted by the sweeping unemployment effect of COVID-19. These measures will take time. Most CRE investors are in 'wait and see' mode, concerned about the now. The savvy investors view this period of uncertainty as a wealth creator. The question I've been getting over the last couple weeks is, 'where's the arbitrage'? The answer... capital.
Dear clients, colleagues and partners -
During these increasingly uncertain times, please use myself and my team as an immediate resource to
help save your company money on your real estate
. As COVID-19 continues to affect our city, businesses and lives, we are offering a no-cost review of your lease(s) to identify the best strategy to keep business moving forward as well as continue to have a viable space option. Things undoubtedly will continue to change, so please use us as your partner and sounding board as we learn more to provide you with updates as well as speak with your landlord to determine cost-saving options.
3. Collaborate as a team- Together we can develop a plan to engage and partner with your Landlord to discuss your potential options moving forward.
Steps to take now:
1. Gather documentation-Prepare documentation that demonstrates the impact that the municipal directives and economic climate, caused by the COVID-19 pandemic, is having on your business as well as projections for the rest of this year. Also, document a proactive plan demonstrating steps your business is taking to reduce the impact. This information may be important to share with your landlord and other entities you are contracted with.
2.
Review your lease- Let us review your lease (free of charge) so we can determine if there are any options available, specifically related to the
force majeure language. Unfortunately, it is unlikely that your rent payment can be abated, but there may be other creative options available.
3. Collaborate as a team- Together we can develop a plan to engage and partner with your Landlord to discuss your potential options moving forward.
Other Considerations:
Mitigate the situation-
While we are working to mitigate the financial real estate pressure, discuss and plan other areas where you can reduce the financial impact on your business. For example, contact your insurance company, banker, IT vendor, etc, to discuss any options they may have available for you. If you do not have those vendor contacts, let us know and we can put you in touch with our strategic partners.
If you are interested, we welcome a virtual discussion, whether via phone or zoom to review your situation further. To schedule a 15-minute call, please email
info@columncommercial.com
with your availability and we will coordinate.
Sincerely,
Matt Brower, Managing Broker
This 29-unit motel has been owned and operated for over 20 years by the current owner. All units are rented on a weekly or monthly basis (current rent roll available) and most units are well below market rents. With a growing need for affordable housing in the Denver metro area, properties like these are always in high demand; evidenced by the average tenancy being 4 years! Multiple investment strategies including converting to a multi-family asset, adding needed storage & laundry facilities- just to name a few! Download our brochure and contact us for additional information or to arrange a tour!
Exceptional Admins, founded by Hilani Ellis, is a boutique executive search firm solely focused on placing administrative professionals with executives, innovators, and entrepreneurs for the purpose of strengthening and more efficiently accelerating business operations forward. As a former executive assistant herself, she knows first-hand that it is a selfless role and that every administrative professional has a unique set of skills and distinctive character, just as executives do. Hilani takes the time to thoroughly analyze the needs of each executive to then handpick the best professional for the role. Although Hilani’s primary focus is on the extraordinary quality of each placement, her business has more than doubled since its inception in 2017-and all from referrals! Listen as she describes her dynamic approach to fulfilling the indispensable role of administrative professionals in this episode of Industry Alchemist.
From our work-family to yours, have a wonderful holiday and new year! We look forward to working with you in 2020!
Column Commercial Partners, in partnership with Site Selection Group, recently represented Lobel Financial with their new lease at Tamarac Plaza. Lobel Financial provides consumer financing for purchases of vehicles from auto dealers. They have several branches around the U.S. including here in Denver. Congratulations, Lobel Financial, on your new location!
We are pleased to announce our new offices located in Edmonton and Calgary, Canada! Our Canadian partner, Glen Checkley, has been in the real estate industry since 1999 providing commercial sales and leasing, in-house facilities management, property management, and asset management services throughout his career. He holds an MBA and is a BOMA certified RPA and FMA. The CCP Denver real estate team has worked closely with Glen on commercial transactions for many years and this new partnership expands the company's ability to provide a cohesive service platform across multiple markets; and best practices that ultimately benefit clients and strategic partners. "We have enjoyed our long-standing relationship with Glen and are very pleased to be formalizing a partnership with a true expert in these key Canadian markets," says Matt Brower, the firm's Co-Founder and Principal. Glen will be overseeing Calgary, Edmonton, and our future expansion into Vancouver and Toronto.
CCP recently represented a long-time client with their lease renewal in Glendale. Professional Testing, Inc. develops, administers and maintains standard testing and certification for multiple workforce industries, government entities, as well as educational institutions. They have three offices in the U.S. including Colorado, Florida, and Washington D.C. Congratulations, Professional Testing, on your continued success!
