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Blog & News - Rakow Group | Rakow Group - Part 4

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industrial property for sale Putnam County

What Kinds Of Results To Expect From Rakow Group’s Commercial Real Estate Services

Why are so many businesses choosing Rakow Group as their go-to commercial real estate company? What led to Rakow becoming the leading industrial space for rent Putnam County provider?

They Assist In Strong But Fair Negotiations Between Tenants and Landlords

Rakow leverages its expert understanding of the properties in Putnam County, Westchester County, and Fairfield County. They know how the commercial real estate market works, enabling them to deliver to clients the best possible deals. Their goal is always to ensure that all participating parties come out of the negotiations satisfied. This in turn leads to stronger relations in the long term between property owner and tenant.

“One of the things we take great pride in is negotiating hard for our tenants to get them the lowest rent and packages that include free rent and tenant build-out, but we leave them with a good working relationship with their landlord where both parties of the transaction benefit,” said CEO Rick Rakow.

They Fight To Secure Optimal Terms For Their Clients’ Contracts

Regardless of your industry, the real estate business is always far more convoluted than what first meets the eye. On the surface, there isn’t much beyond deciding whether or not you like a space and its price. But as one inches closer to closing the deal, the terms become increasingly difficult to follow. That’s why it’s always favorable to include someone who has been through this thousands of times.

“Accounting firms have very specific needs. As a result of Rakow’s assistance, we were able to secure an extended lease, take additional space, and all in terms that were favorable to Citrin Cooperman. We were very happy with the results,” said Alan Badey, Managing Partner for Citrin Cooperman in White Plains.

They Search Long And Hard

Rakow Group has been in this business for over 30 years. We have unique access and insight into the markets in Putnam County and surrounding areas. Whenever Rakow has a new client, we draw from information regarding the present status of the local market. We combine this information with all of the knowledge that we’ve accumulated over the years.

“When we look for a new space for a tenant, we scour the market to try and find the right office building, industrial building, retail building, medical building, apartment building, mixed use building, or whatever they’re looking for, based on their criteria, and then we help negotiate the best price that we can,” said Rick Rakow.

For questions and inquiries about our industrial space for rent Putnam County services, give us a call at (914) 758-0220.

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commercial property for lease Westchester NY

Why PURE Insurance Chose Rakow

Commercial Property for Lease Westchester NY

PURE Insurance, short for Privilege Underwriters Reciprocal Exchange, is a casualty and property insurer. Their mission is to protect families of high net-worth who have a lot to potentially lose from insurance claims, fraud and poor insurance mismanagement. PURE also provides cyber fraud protection, as identity theft has increasingly become a concern for financially successful families. Here’s how Rakow Group’s local commercial property for lease Westchester NY and Fairfield CT services were able to help.

Over the years, PURE has grown from a small local business to one of the primary go-to insurers in Westchester County and beyond. Their success is attributable in part to having found the perfect space to place their headquarters. Choosing the right workspace is crucial to any business’s ability to flourish. And with the help of Rakow Group, a company with over 30 years of experience, they managed to do just that.

“When PURE first started and decided to be in Westchester County, it was helpful to have Rakow on our side. It was clear that Rakow really understood the Westchester market. He was genuinely great at that. And that expertise helped us pick the right space,” said PURE Insurance President and CEO Ross Buchmueller.

About Rakow

Rakow Group is a company that has stood the test of time, thanks to their extensive knowledge on the Westchester and Fairfield markets. In addition to knowing the market inside and out, they also provide invaluable guidance and advice for negotiations with landlords and commercial property owners. They are equally versed in commercial property for lease, rent, purchase, and sale. So regardless of your objective, Rakow surely has the skills to help you reach it.

They also walk you through the entire process. Many clients often don’t know precisely what it is they want yet. With Rakow’s guidance, they have the opportunity to more effectively prioritize. Variables such as size, location, desired amenities and budget, among several others are all useful factors to consider. This helps narrow the search, saving on time and costs. And when it’s all said and done, each party arrives at an agreement that allows for a healthy and long lasting professional relationship between tenant and landlord or buyer and seller.

Rakow has provided its expert commercial real estate search, networking, and consulting services to clients of multiple industries. That includes but is not limited to general office use, medical practices, retail stores, and industrial / warehouse and storage. Their expertise reach all throughout Westchester County in New York and Fairfield County in Connecticut.

We Want To Hear From You

To learn more about why so many businesses are choosing Rakow for commercial property for lease Westchester NY services, give them a call at (914) 758-0220.

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medical office property for rent Fairfield County

Haz-Mat Disposal And HIPAA: The Added Legwork Of Renting Medical Office Space

The Rakow Group works hard to open doors to its clients. We make it our mission to make available all of the necessary resources necessary. We want our clients to arrive at a lucrative and profitable deal. When it comes to medical office property for rent Fairfield County services, we’re the team you want by your side. Below are some useful tips on how to dodge a bad deal.

What To Know About Haz-Mat Disposal

If you need to draw blood or expose any fluids that may contain contagious illnesses and potentially qualify as hazardous materials in your workplace as part of your profession, you will need to establish a means of safely and securely disposing of that waste through a separate vessel than the one you use for the rest of your garbage.

Such is also the case if you use equipment that releases radiation, such as X-ray and C-T scan machines. This entails your handling and disposing of materials that are radioactive. There could be serious repercussions to an individual’s health upon him or her unknowingly handling a radioactive substance or piece of equipment without the proper protection. It’s for this reason that regulations are so tight.

What Happens If You Don’t Meet Requirements

If you fail to comply with this regulation, you run the risk of endangering yourself, your colleagues, your patients, the others who are occupying the building, and the folks who handle your garbage. Additionally, you face the possibility of failing inspection. If that happens, you’ll have to close your office and potentially face legal action. That will also likely result in you having to pay a fine to your landlord.

Who To Talk To In Order To Remain In Compliance

To prevent this from happening, speak to all resources that you have at your disposal. The goal is to arrive at a unanimous agreement on how to resolve the issue. That includes a company who specializes in installing and handling medical equipment, your landlord, any government officials who would have to approve of any plans, and perhaps most importantly, a commercial real estate expert with experience dealing with medical office space.

HIPAA Rules To Discuss With Landlord

The Health Insurance Portability and Accountability Act legally protects the medical information of all patients. Health professionals have the legal obligation of protecting the information of their patients from unauthorized beings. That presumably includes the owner of the property. This could be a point of tension for some property owners, as it implies that they will not have permission to access parts of their own property. This is something you’ll have to discuss in advance, so as to ensure a healthy and long-lasting professional relationship.

For more info about our medical office property for rent Fairfield County services, contact Rakow Group in Connecticut by dialing (203) 769-9940 Ext 10.

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medical office space for lease Westchester County

The Medical Office Space Regulations You Shouldn’t Overlook

As a prospective tenant, you need to work with someone who understands the intricacies of a medical office space lease. Rakow Group has over 30 years of experience in medical office space for lease Westchester County services. Here are the vital facts about medical office space regulations.

The Kinds Of Medical Equipment That Are Regulated

There are certain kinds of medical equipment that have very strict regulation. If your practice ever needs to perform X-rays, C-T scans, MRIs, or operate any other machinery that emits radiation or requires patients to shield themselves with lead, you’ll need to make sure you pass all legal clearances prior to opening for business. Aside from protecting the patients, you need to prove that you will also not be putting anyone else at risk.

Who To Speak To In Order To Ensure That You Remain In Compliance

That means communicating with an architect who has experience in installing this equipment and an understanding of the regulations. Aside from legal clearance, the architect must install this equipment without inflicting any lasting damage to the property. Because it’s your business, you’ll likely have substantial influence on how these renovations take place. So in the event that something goes wrong, the bill will quite possibly fall in your lap.

What’s The Government’s Involvement?

Legal clearance entails obtaining government certificates of compliance. Without government approval, you will have to close your doors upon the very first inspection. And for medical practices, the government typically enforces these regulations frequently and without leeway. If you want room to negotiate, you must demonstrate that you’ve been proactive in the past in meeting requirements.

What’s The Landlord’s Involvement?

In addition to the government’s approval, you’ll also quite likely have to meet some obscure requirements that your landlord lays out in his or her lease. Due to the fact that you’ll inherently have to renovate the space in order for it to meet the government’s regulations alone is enough for your landlord to intervene more so than if he or she were dealing with a tenant of a different industry. Your goal should thus be to accommodate whatever requirements you agree upon, but to remain weary with regards to that which is reasonable versus excessive. Makin this distinction may require the presence of a commercial real estate professional.

For more information on the Rakow Group’s medical office space for lease Westchester County services, call (914) 758-0220 Ext 10 today.

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medical office space for rent Putnam County

Exits, Hours, Installations and Extensions: What To Ask Medical Office Space Landlords As A Prospective Tenant

Locating sustainable, affordable, and attractive locations for medical office space for rent in Putnam County can be headache inducing. There are lots of factors behind the curtains that will end up consuming far more time than you had anticipated. But with the right medical office space for rent Putnam County services company, you can cut your time and money expenditure into pieces. The true search for your medical practice’s future starts here. Below are a series of questions to ask yourself.

Will your practice ever require emergency care?

Is there any possibility that your medical office would need direct access to the parking lot for ambulance services? If your medical office is on the top floor of a shopping center, issues will appear at the worst time. As a medical professional, you must anticipate these scenarios far in advance. You should plan on how to prevent them from turning into something that you could have prevented.

Does your lease specify rules regarding hours of usage?

For a retail store, late night visits by tenants are usually not an issue. However, for office buildings, the rules for when tenants can use the space varies depending on circumstances and landlord preference. This is something you’ll want to clarify as early as possible, as it could be a deal-breaker if you plan to have patient visits during afterhours. Such is especially the case in the event that your practice includes emergency care.

How did the previous tenant utilize the space?

In the event that the previous tenant was not a health care professional, or moreover, not of the same practice as you, there’s a likely chance you’ll need to tack on a number of extra expenses to install all necessary equipment. The time and money you’ll need to spend with these installations and renovations will be costly, meaning it will take time for you to see returns on this investment. For this reason, if the equipment is not already there, then it would be poor judgment to sign a short term to lease. Instead, your goal should be to negotiate for at least a ten-year lease so that you can guarantee a return on investment.

Are extension clauses negotiable on your lease?

Because you’ll most likely be signing a long-term lease, you’ll also want to discuss potential exceptions. A lot can happen in ten years. Someone could get sick or die, your business could fold, or any other unfortunate but quite possible scenarios could lead to your having to cease payments. Make sure you discuss these details with your landlord in advance. The goal is to protect yourself as much as possible while you still have negotiating power.

If you’d like assistance in locating properties, determining their value and negotiating terms, contact the Rakow Group at (914) 758-0220 Ext 10 for expert medical office space for rent Putnam County services.

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retail property for lease Fairfield County

Parking, Main Streets And Projected Value: How To Find Your Retail Store’s Location

You have the eye for business in retail. You have the training, the concept, and a clearly defined mission. As an ambitious, excited, and confident entrepreneur, there are few things that could deter you from moving forward with this business idea. But in order for your business to truly succeed, you are going to have to execute. It all starts with where you choose to put your store. It could be the single most important decision you make as a business owner. So choose wisely. From a retail property for lease Fairfield County networking, brokering, and consulting company that knows what it’s talking about, here’s the best advice the Rakow Group can give you on how to choose the right spot.

What’s The Parking Situation?

It’s not uncommon, especially in retail, for competitors to set up shot shop in close range with one another. This drives the price down until all but one go out of business. This will quite likely happen to you. And when it does, prices aside, you’re going to want to do whatever it takes to make your store preferable to theirs. That means ensuring that you have ample parking.

For example, if someone pulls up next to your store looking for a new pair of shorts, but has to pull into your competitor’s parking lot first, the chances are that he or she is going into your competitor’s store first. For this reason, so long as your budget permits, it’s always best to go the extra mile and spring for some parking spaces. Around five parking spaces per thousand feet is a standard to shoot for.

Is It Easy To Find?

What are the nearest main streets and how far away are they from the corner you want your store to be on? Could someone easily find this place from across town without needing MapQuest? If your store is in a far away pocket on a street that nobody’s heard of, that is going to hurt your business significantly. Don’t let the inexpensive rent lure you into making a commitment that you ultimately end up regretting. But also don’t spend your entire budget on rent if you can’t afford to keep those payments up. There’s a reason the highest turnover is in the most popular locations. Be mindful of that.

Do The Costs Match The Value?

This is the kind of question that is tricky to answer without the guidance of an expert. Determining the true value of commercial property, or any kind of real estate for that matter, requires an understanding of all the variables at play. What is the standard cost for rent, utilities, zoning, etc. and how does it compare to the number this property owner is giving you? You’ll have to determine whether it’s higher or lower and why. And in the event that you decide the asking price is not reasonable, you’ll need the skills and necessary background information to negotiate your point effectively.

If you truly want what’s best for your business, give us a call today and ask about our retail property for lease Fairfield County services. You can reach us at (203) 769-9940 Ext 10.

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office space real estate Fairfield County

Everything You Need To Know About Negotiating Tenant Improvement Allowance

Office Space Real Estate Fairfield County

Loyalty and commitment in business should yield rewards. As a tenant for office space, this is a factor that you should have in mind prior to signing a lease. If you feel that you have found office space in which you can see a future, then you should make it a point to make sure you can reap the benefits of your long term stay in this location. That means locking down a Tenant Improvement Allowance agreement in the lease. With Rakow Group’s office space real estate Fairfield County services you can have the guidance in negotiations to ensure you land this best possible tenant improvement allowance with your landlord.

What Is Tenant Improvement Allowance

Most landlords will help retrofit and develop their properties to better fit the needs of their most loyal tenants. The terms of improvement allowance, along with the length of the lease, typically will have a profound impact on the monthly costs. It’s for this reason that it’s so important to have foresight in advance with regards to how long you anticipate staying in this space, what you would like to do to improve it, how long that will take you, and how much you think it would cost. It’s in your best interest to measure all variables in advance, so as to ensure that you can come to an agreement with which you’re comfortable.

Negotiating Management Rights

The first step is making sure you confirm a tenant improvement allowance and that you agree on a rate that is favorable to you and your business. But that’s not where it ends. Step two is negotiating who is in charge of whatever renovations or changes you want to make. This can be a bit tricky, seeing as how you’re not the owner. But at the end of the day, most landlords are renting out property as an investment. There greatest concern is your loyalty. If you can communicate that fact clearly, in many cases, you can convince your landlord to hand over control.

The Two Types Of Tenant Improvement Allowance

  • Turn Key Build-Out: In this case, the landlord will agree to cover the cost in full. That means you’ll have the liberty of building/retrofitting your office exactly as you envision it without any concern of cost. However, keep in mind that someone will have to pay for it, even if it’s not you. If your landlord agrees to pay for an expensive edition, it may reflect in your rent, which is more long term. You’ll want to keep an eye on that before signing off on a Turn Key Build-Out.
  • Stated Dollar Amount: Here, your landlord gives a set amount. That is to say, your landlord will state that he or she is willing to fund any structural or architectural changes, provided you do not exceed a certain number. While this seems less favorable, it can end up working to your favor. That’s because by being more conscious of the cost, you can maintain a stronger relation with your landlord and prevent high spending from relocating to your month, which you’ll have to pay every month for as long as you’re a tenant for this property.

 

For more negotiation tips and other office space real estate Fairfield County services, give Rakow Group a call at (203) 359-5703.

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office space real estate Fairfield County

A Cost/Benefit Analysis Of Short Term Vs. Long Term Commercial Leases

Office Space Real Estate Fairfield County

There really is no “standard” length for a commercial property lease. That said, a typical office space lease can range from 5 to 10 years. An important piece of fine print to keep an eye out for is the provisions for lease extension. This clause could prove crucial to your relations with your landlord and the stability of your business. It will determine whether or not it’s worth your while to renew the lease on the same or updated terms. What you want to keep in mind is that the renewal clause in a lease is usually for your benefit. You’ll suffer if it’s absent from the lease and you fail to address its absence prior to signing a contract.

The Advantages To Short Term Leases With Renewal Options Over Long Term Leases

Here’s a little piece of insider knowledge for our loyal Rakow Group readers. The general consensus here is that most property owners prefer their tenants to sign long term contracts, but it is usually in the benefit of the tenant not to sign a long term contract, but rather, to sign a short term lease with the option of lease renewal written into the contract (or, a long term lease with the Option to Terminate…call us and we will explain).

Presumably, it will almost always be favorable to the owner to retain the tenants he or she already has rather than spend the time and resources finding someone new. Therefore, in the event that you, as a tenant, discover a flaw in the property that you feel the landlord should address, you may then have the negotiating power to influence him or her to make those changes once the lease expires, which would be sooner rather than later.

The Disadvantages To Short Term Leases With Renewal Options

However, on the other hand, there are a few setbacks to this strategy that you should consider. Above all, in reality, you won’t really have nearly as much negotiating power as one may expect. You’ll have fewer concessions, as landlords tend to design their contracts to reward those who show loyalty.

Good investments take a healthy combination of foresight and research. But investing, and showing faith and trust are the ingredients for a strong professional relationship. It is in this foresight in investigative resources, based on years of experience, that the Rakow Group stands to place you in the most advantageous of positions in your search for property.

Good investments take a healthy combination of foresight and research. But investing, and showing faith and trust are the ingredients for a strong professional relationship. It is in this foresight in investigative resources, based on years of experience, that the Rakow Group stands to place you in the most advantageous of positions in your search for property.

This is just one among an assortment of secrets to getting the best possible deals in your search for office space. To give yourself the advantage that your company deserves, call the Rakow Group at (203) 359-5703 for unbeatable office space real estate Fairfield County networking, consulting, and negotiating services.

office space real estate Fairfield County

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medical office space for rent Westchester County

3 Criteria That Make Medical Office Space More Difficult To Find Than Other Industries

Finding medical office space is different from finding office space for other industries. That’s because the criteria is more extensive and complex. To illustrate our knowledge on the matter, we’ve compiled a brief list of all the variables that make medical office space for rent Westchester County search so difficult, and followed by an explication of why our services can make that search much easier and more effective.

Radiation Equipment Makes For A Hazardous Environment

At the very least, physicians will utilize x-ray equipment. Beyond that, depending on your practice, you may perform CT scans and any number of other equipment that uses radiation. In the off hours of your medical office, you will need to store that equipment securely in a space that protects the buildings inhabitants from radiation poisoning. This entails extra measures that will surely appear in the your lease. In general, the presence of hazardous equipment and materials are usually grounds for a bump in rates for the lease.

Agreeing On Terms For Utility Expenses Can Be More Complicated

Albeit, private practices don’t have emergency rooms, which means patients should be able to schedule appointments during work hours. That being said, people don’t always get sick at the most convenient of times. When possible, we’d all like to avoid the emergency room. This isn’t lost on most physicians, and as a result, many will agree to see their patients during after hours. From a landlord’s perspective, this distinguishes physicians from other tenants in how it reflects on the utility bill. This is also something that you’ll have to negotiate prior to signing the lease.

HIPAA And Hazmats Limit Landlord’s Right To Access Office Space

Most landlords, by contract, reserve the right to enter their commercial spaces as they please. They sometimes do so to explore how well the tenants are managing the space. Or, if they suspect that their tenants won’t renew and the lease is nearing its end, they’ll take some time to show the space to other prospective tenants. With medical office space, landlord’s don’t have nearly as much liberty to move about a space for which they are the owner. This is difficult for some property owners to come to terms with.

But at the end of the day, patient privacy laws prohibit landlords from entering entering rooms with documents about patients. Additionally, for the protection of all who inhabit the space, landlords also cannot enter areas that hold hazardous or infectious materials. Maneuvering these unfortunate realities with a property owner may be something you’d want to leave to someone with experience in doing so.

The Rules Regarding Who Can Die On The Premises Are Different

Depending on the practice, death could be commonplace for some offices. Normally, leases have clauses saying that landlords reserve the right to evict their tenants and penalize them in the event of any injury or death on their property. Needless to say, this is a clause that you will have to modify if you are going to be a tenant with terminally ill patients entering your office on a daily basis.

The issues we’ve listed above are only the tip of the iceberg. To learn more about the intricacies of medical office space for rent Westchester County services, give Rakow Group a call today at (914) 422-0100.

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office space real estate Fairfield County

The Crucial Difference Between Useable And Common Area Square Footage That Everyone Overlooks

When it comes to commercial real estate, there is a collection of fundamental concepts. Prospective tenants and sometimes even professionals in the real estate industry fail to fully understand it. There’s a difference between usable square footage and the proportionate share of square footage that the tenant will actually use. These are often two very different figures that prospective tenants overlook all too frequently when searching for the perfect property. These are the kinds of oversights that one can avoid by choosing Rakow Group as his or her office space real estate Fairfield County provider.

What Are Useable Square Feet?

Useable square footage applies to the space you rent in its entirety. It applies to the full space that the workers will inhabit. In the event that you share the space with another company, the useable square feet accounts for everything. That includes where the other company will be working. It also accounts for exit and entry doors, structural columns, and any space you can’t fill with a worker. Useable square feet accounts for all of this space equally. In other words, this figure accounts for the space where the columns are as if they weren’t there.

Additionally, if you plan on becoming a full floor or multi-floor tenant, your landlord reserves the right to charge you a portion for the areas that go beyond your office space. That means restroom areas, hallways, elevators, and stairways as well. You will split this fee with whoever are your fellow tenants. It is also not uncommon that property owners charge their tenants, be they small tenants or full floor/multi-floor tenants, a small fee for the lobby area too. So don’t let that alarm you if you it pops up in your contract. The truth is that you’ll usually run into this no matter where you go.

What’s The Common Area Factor?

As we’d mentioned above, this applies to the areas that multiple tenants must share, such as the hallways, restrooms, etc. There are two types of Common Area Factors, the first being Floor Common Area Factor, which applies to the spaces and amenities that tenants must share on their respective floors, such as restrooms, break rooms, eating areas, etc. For the most part, this figure dances around 8%, give or take, depending on the a number of variables and the owner.

The second is the Building Common Area Factor, which applies to the sections of the building beyond the floor that multiple tenants co-inhabit, such as elevator space, stairways, lobbies, etc. This figure can vary widely from 4% to 10% depending on the the building itself, with special regards to its age and quality, the location, the number of other tenants, and once again, the landlord.

Altogether, the sum between the Floor and Building Common Area Factors adds up to anywhere between 12% and 20% of the total rent for the space.

Want to really become an expert in how to find quality commercial property for rent? Give Rakow Group a call today at (203) 359-5703 and ask about our top of the line office space real estate Fairfield County services.

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