The Anchor Tenant is the first major tenant (10 – 30% or more of project rentable area) to sign a legally binding commitment to a property. The Anchor Tenant serves as a sign to the market (and project stakeholders) that the project is accepted by the target audience represented by the Anchor Tenant, and is […]
Establishes and implements the strategy of the project with the approval of the owner. The asset manager thus establishes the goals of the property manager and supervises its work. It delegates supervision of facilities management to the property manager. The property strategy includes developing a clear position of the project in the market, which is […]
The Bureau of Technical Inventory is the organization responsible for making the official drawings and measurements of buildings and their internal spaces that define the property. They determine the size of the property listed in the title and the numbering of distinct spaces or rooms within the property that are used to identify spaces in […]
In the United Kingdom Business Rates are levied annually on tenants while no Property Tax is levied on property owners. The Business Rate is usually 40-45% of the annual base rent paid by an office tenant under the lease agreement.
Class A is the term applied to an office property that meets marketing leading standards in terms of location and quality of design, construction and technical systems, management and ammenities. Because these standards in design, construction and technical systems are constanting evolving, rarely are buildings more than 10 years old considered Class A. Similarly, if […]
In most markets Class B is used to describe modern office buildings that do not meet Class A standards but are of generally good quality, meet all essential standards for modern office buildings and are considered by a wide range of tenants, including major companies for whom occupying top quality space is not a priority. […]