|
|
GMAC Real Estate
Tenant Alert
Please click here
to download a color print version of this newsletter.
In This Issue:
Does your agent
understand the retail market?
Need a high-traffic retail space with flexible
expansion options... but not a daunting long-term lease? Find an agent
that specializes in the Manhattan retail rent market.
Expert retail rent agents should:
- Have
access to consumer trend and traffic data for the retail industry.
- Demonstrate
knowledge of retail location best practices.
- Understand
contracts and help secure the most appropriate lease for your business.
A
knowledgeable agent has access to resources that can help businesses
uncover the most strategic locations. Qualified agents also help
businesses create flexible leases that allow them to expand or contract
without legal repercussions.
GMAC agents are proud to offer competitor site evaluations, contract
counsel and location analysis to all of our customers.
For more information, contact George F. Donohue,
president of GMAC Real Estate, at (212) 620-2611 or via email.
Executive View -
Ready to roll out?
Americans respond to brands and feel comfortable
in stores they recognize. Therefore, recognizable retailers have a
chance at great profit if they choose to open multiple locations or
create a franchise.
Franchises do not have to be large-scale to succeed. However, studies
prove that name recognition helps bring in customers for nearly every
industry, including those that specialize in popular items such as
food, cell phones, apparel and shoes. Jewelry stores, for instance,
have experienced great success as a franchise.
When a retailer creates a franchise, the process of growing an initial
store into additional stores is called a rollout. During a rollout, a
business recreates the foundations that it developed for the first
store as it opens additional locations. With offices in more than 1,300
markets, GMAC can help clients roll out on local, regional, national
and even international scales.
Location is one of the most important factors for retailers to consider
when they begin rolling out. After all, if the retailer already has a
successful business foundation and proven processes in place, finding
an accessible and high-traffic storefront is the next step in the
process of bringing in customers.
Next, many retailers need funding to help finance the full rollout.
Businesses can use financial assistance to invest in real estate, hire
personnel for a new location, market the business, and more. GMAC and
our sister lending organizations regularly fund rollouts for proven
entities. In 2006 alone, GMAC loaned more than $2 billion to help
retailers expand their businesses.
Retailers in any industry can create a successful rollout if they have
a proven process and strategy in place. GMAC can not only help clients
find the space they need to succeed, but we can also fund the expansion.
For more information, contact George F. Donohue,
president of GMAC Real Estate, at (212) 620-2611 or via email.
Jargon - Estoppel
"Estoppel" is a legal term that applies to a contract when one party
attempts to deny contract benefits to a second party. Estoppel may
apply regardless of whether an agreement is made in writing or
verbally. Estoppel can take many forms, but the most common type for
real estate is "Estoppel by Deed."
An attorney may cite Estoppel by Deed when either the buyer or the
seller of a property denies certain terms of the deed. The estoppel
makes it illegal to deny any rights promised in a deed.
For example, if a buyer purchases waterfront land with the
understanding that certain neighbors will continue to have access to
the water through the land, the buyer must allow those neighbors to
access the water. If the buyer denies this agreement, the seller could
claim estoppel, thereby barring the buyer from changing or denying the
terms of the agreement.
Agent Profile -
Jay Feiertag offers full-service solutions
What do real estate and business growth have in
common?
How does office space help to determine productivity?
What happens to a company when it outgrows its office space before its
lease has expired?
Jay Feiertag, GMAC Senior Vice President, has the answers to these
questions and more. Feiertag, who is also the Chair of Career Services
for the International Facility Managers Association (IFMA), takes a
multi-disciplinary approach to finding the ideal real estate solution
for his clients.
With a background in architecture and a Master's degree in urban
planning from Pratt Institute, Feiertag distinguishes himself as an
industry expert with experience as both a service provider and an end
user. After more than 30 years in the real estate industry, he also
understands the intricacies of the Manhattan market and maintains an
arsenal of resources that he can call upon to meet every client need.
To ensure success, Feiertag first seeks to understand the concerns and
challenges that his clients face. On any given day, Feiertag might
spend an hour negotiating a growth strategy for a company that expects
to outgrow its space before its lease expires. In the next hour,
Feiertag might call upon his network of service providers to deliver
office furniture, equipment, and technology to a new space.
Feiertag, who has been with GMAC since 2002, has a proven record of
providing viable real estate solutions for businesses, regardless of
the size of the business. For example, when he helped to move a
software marketing company into a Midtown Manhattan space, Feiertag
identified a portion of the office space that the company could lease
to other businesses to generate extra revenue until the company
expanded as anticipated.
By combining expertise in real estate, architecture and urban planning,
Feiertag serves as a full-service resource for clients through all
phases of their business growth and cycles.
Jay Feiertag can be reached by phone at (212)
620-2603 or via email.
GMAC
Real Estate / IPG New York
520 Eighth Avenue
22nd Floor
New York, NY 10018
Phone: 212-620-2611
Fax: 212-265-8751
GMAC Real Estate
IPG is an independently owned & operated firm.
|
|
|
Q U I C K L I N K S:
- - - - - - - - - - - - - - -
|
