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Gary Pepp

Senior Vice President

 
Bailes & Associates, Inc
19100 Von Karman Ave, 430
Irvine, CA 92612
 949-644-9100
@ gpepp@bailesre.com
Helpful Articles

How much office space do I need?

There are a variety of ways to calculate how much office space you need including using my free office space calculator. Once you have your own opinion on how much space you need, it’s always good to benchmark your need against similar users. [...]

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Office building classifications guide

In established commercial real estate markets, Office building classifications can be used as a guide by which to compare office buildings to one another. One issue with building classifications is that it is not uncommon for owners and brokers to exaggerate their own building's classification for marketing purposes making it difficult for [...]

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Keep your operating expenses in check with this invaluable resource

IREM publishes one of the most helpful income and expense analysis reports covering office, retail and apartment buildings in major metropolitan areas. While primarily used by property owners and managers, tenants and tenant rep brokers can leverage this resource to help verify a landlord’s expense projections are inline as well as audit the efficiency of a building over the course of a lease [...]

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Understanding each type of commercial lease

As a tenant, it is important to understand the type of lease structure the landlord is proposing and how it will impact your bottom line. There are 3 primary types of leases - Gross, Full Service and Net - as well as modified versions of each [...]

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What is a Base Year Stop? This picture helps to explain.

So, you've just gotten a lease proposal which includes a Base Year Stop clause. What exactly does a Base Year Stop mean? My Leasing Glossary defines a Base Year Stop as "the annualized amount per rentable square foot that a landlord pays toward the operating expenses of a building. Amounts exceeding the expense stop are billed to the tenant [...]

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Another way to think about a lease renewal option

For a tenant, a renewal option is included in a lease as a method to reduce future uncertainty. This renewal option provides the tenant comfort that they have the option to extend an existing lease at predetermined terms, if they so choose. Because the tenant has the right, but not the obligation to exercise a renewal [...]

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Common Area Factors Explained

The common area of an office building is a confusing one not only for tenants, but even some seasoned brokers. The underlying concept of the Rentable to Useable Factors (or "R/U Ratio") is so that Landlords can capture revenue for the common areas of the building, which are made available for the benefit of all [...]

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What variables impact tenant improvement allowances?

Many times tenants are just as (or even more) sensitive about upfront capital requirements as they are about negotiating the best rental rate. There are several variables which most landlords consider before offering a sizable tenant improvement allowance. [...]

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Four gimmicks every tenant should know

Even though real estate costs represent the 2nd or 3rd top expense item on most income statements, for many business owners, leasing commercial office, retail or industrial space is something which is only tackled every 3, 5, 7 or 10 years. For this reason, it can be a daunting task purely based on inexperience. [...]

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