Raise your hand if...
- You field calls from aspiring business owners asking for assistance in renting or buying a space
- You're responsible for addressing vacant storefronts
- You've mediated a nasty argument between a property owner and a small business tenant
- You think you must have missed the day in school where everyone else learned about commercial real estate. (That must have been the same day they covered how jumper cables work.)
LEARN THE LANGUAGE
Radius restriction, NNN, TI, Due Diligence... we'll teach you the all the terms to know to keep up with the jargon.
MASTER THE PROCESS
Understand the professional roles and rules of engagement for leasing and buying commercial properties.
PROTECT YOUR PEACE
Gain the knowledge and confidence to know how you can (and cannot) help tenants and property owners in the community you serve.
FOUNDATIONS OF RETAIL REAL ESTATE
INSIDE THE COURSE
WHO IT'S FOR
Professionals who support small businesses as advisors, advocates, and leaders from Main Streets organizations, economic development offices, municipalities, and other civic and community organizations.
If your job requires you to engage with property owners or tenants of bricks-and-mortar spaces, this course is for you.
WHAT YOU'LL LEARN
The course is divided into four modules, each taught by our expert instructors:
Module 1 - Commercial Real Estate (CRE) Terms and Concepts
- What is CRE
- Types of Property Ownership (fee simple, leasehold, condominium, co-op)
- Lease deal structures (NNN, Full Service & Modified Gross)
- CRE Professionals: Property Owners, Owner/Operators, Landlords, Tenants, Brokers, Lawyers, Property Managers, Asset Managers, and more
Module 2 - Leasing a Space
- The Five Steps of Leasing a Space
- Capital Budget & Fundraising
- Security Deposits & Guarantys
- Default & Cure
- Delivery Conditions & Buildout: Cold-Dark Shell, Warm-Lit Shell, Vanilla Shell, White Box
- Essential LOI & Lease Terms: Base Rent, OpEx, NNN, Escalation , Term, Renewal Options, Assignment, Sublet, Use, Continuous Operations, Exclusive Use, Tenant Improvement "TI" Allowance, Rent Abatement, Commissions, Signage, Repair and Maintenance, Rules and Regulations, Lease Commencement, Delivery Date, Rent Commencement, Renewal Notice Date, and more.
Module 3 - Buying or Selling a Property
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Property Owner Profiles: Owner/Operator, Investor, Developer
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Process & Timeline: Before the Listing, Listing to Offer, Offer to Closing
- The Four Types of Due Diligence
- Key Players: Real Estate and Zoning Attorneys, Surveyor, Appraiser, SBA Lending Specialist, Title Company
- Essential Terms and Concepts: Real Property, Fixtures, Personal Property, Deed, Title, Title Search, Due Diligence, Market Price, Appraised Price, Market Value, Cap Rate, Real Estate Commission, Zoning Ordinance, Deed Restriction, Encumbrance, Balloon Payment, Loan-to-Value, Commitment Letter, Debt Service, Highest and Best Use, Easement, Obsolescence, Eminent Domain, Estoppel Certificate, Option, First Right of Refusal, Sale/Lease Back, and more.
Module 4 - Facilitating Success
- Establishing Boundaries: The Whys and Hows
- Roles and Responsibilities of Connectors & Advisors
- Leveraging Experts: When and Why to Provide Referrals
- Common Pricing Structures: Brokers, Lawyers, Contractors
- Adding Value: Practical Tips for Sharing Information and Providing Support
PROCESS & PRICING
Foundations of Retail Real Estate is offered on-demand for $250 per student.
At the end of the course, students complete a 25-question assessment and earn a Certificate of Completion.
If your organization is interested in enrolling five or more students or offering the course on an ongoing or unlimited basis, please contact us for a consultation.
"Having the training and skills to thrive in your position is key for longevity in the workplace, as well as job satisfaction and a willingness to invest in an organization's vision. This course fills in the critical knowledge gaps about retail real estate to enable those who interface with small business owners to advise with confidence and clarity."
Erin Seel
Company Culture Expert & Professional Coach
FOUNDATIONS OF RETAIL REAL ESTATE
Expert guidance and practical training for the advocates, advisors, and community leaders who work on the front lines of bricks-and-mortar business.
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