Do you ever come across a business and think, “Well duh! It’s a great concept, why didn’t anyone grasp on to this idea a decade ago?” In this case, I am talking about REACTIV. The company was founded in 2019 by Ryan Boykin and Jason Shepherd, two clever entrepreneurs in the real estate industry. They thought of a simple way for individuals or startup companies to rent space on a short term basis (as short as a couple of hours), as well as to help landlords to monetize areas of their real estate assets that (for multiple reasons) may not have been getting the attention they deserved. Listen, as Ryan tells us more about REACTIV and how simple and invaluable it is for both tenants and building owners.
Column Commercial Partners (CCP) recently represented Clove & Twine (www.cloveandtwine.com) with a new lease of 9,997 SF at York Street Yards. Clove & Twine is a premier distributor of remarkable branded goods to corporate America – offering companies a chance to gift their valued employees, clients, and partners with products and kits they truly value. The national company is rapidly growing; with seasonal/holiday high demands, so CCP had to factor these dynamics into the property search and negotiations. Therefore, we structured a lease agreement to include temporary space at no cost, to accommodate their growth while also allowing them to move into their permanent space after their busy season.
CCP recently represented Dotcom Therapy with their new office lease in Westminster. Dotcom Therapy is a rapidly growing telemedicine platform that is dedicated to ensuring every person, no matter where they live, has access to therapies such as speech, behavioral, occupational, and more. The company began in 2015 in a remote area of Alaska and has since scaled to over 40 states treating thousands of children weekly!
oVertone Haircare, Inc. is a fairly new company, but they have a cool story and have been wowing the industry since the beginning! Two young women, Maegan Scarlett and Liora Dudar, co-founded the company in 2014 with a solution to their own frustrations with damaging hair coloring products. Since their inception, the popularity of their products have grown very rapidly! CCP initially helped oVertone negotiate their first lease, then their expansion, and now their lease renewal. Brokers Matt Brower and Matt Weist worked to ensure oVertone received the best terms in Denver's current office market conditions. CCP is honored to represent this local, women-founded company and always grateful to continue to provide tenant representation services. Thank you, oVertone, for your continued business!
Joshua Hunt began his residential real estate career over 20 years ago with Keller Williams. He has since forged a lucrative path using his knowledge and innovation to improve the way realtors and clients work together. After a recent sabbatical, he has again rejoined the real estate industry with a creative new role in both residential and commercial real estate. He has joined forces with his daughter Mihya, and son Joey, who also have the same spark and desire to help home buyers navigate the market. The three have formed a team at Keller Williams to serve the residential community. Additionally, Joshua has joined Column Commercial Partners to help serve the commercial business community with commercial real estate needs. With his extensive experience, alliances, and keen approach to improving systems and processes, Joshua continues to be an ardent liaison for the entire Denver community.
Matt Brower, Managing Broker at Column Commercial says, “Josh is great at cultivating integrity and identifying ways to make business run more smoothly. We are mutually aligned in many ways. I am very excited to be working together!”
CCP recently represented Rocky Mountain Children's Law Center (RMCLC) with their lease renewal in Denver. RMCLC advocates for children who have experienced trauma or instability. Services include both direct legal representation and larger systemic reform to ensure that children have the safety, stability, support, and opportunity they need to thrive. RMCLC has been around for almost 40 years and has helped over 25,000 children in the rocky mountain region. Thank you, RMCLC, for all that you do for Colorado's children in need!
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!
