Great Carlsbad Office Opportunities

Posted by Lee Sterling | Posted in Carlsbad, Economics, Landlord-Tenant, North County, Office, Real Estate | Posted on 01-02-2011

One of the great buildings available today

I just received a special promotion on four great office buildings here in Carlsbad. If you know someone  looking for office space in North County now is a terrific time to be negotiating. Take a look at these four wonderful opportunities by clicking on this link:  Great Office Locations

Then have them give me a call to discuss their specific needs. For 27 years I represented landlords and developers in the leasing and sale of commercial property as a real estate lawyer. Today i just represent tenants and never landlords in the leasing of space!

Negotiating Persistence

Posted by Lee Sterling | Posted in Economics, Landlord-Tenant, Negotiation, Real Estate, San Marcos | Posted on 12-07-2009

Keys to My Life TeesOn Friday, July 10, 2009, we celebrated the opening of the new location for My Life Tees, Silk-Screen and Embroided Apparel, owned by Stacie and Paul Marotta. We helped them find the location and then negotiated the lease on favorable terms by being persistent despite the landlord’s reluctance. That’s Paul, Stacie, and me in the picture to the left. We’re having a delayed celebration of my turning the keys over to them for their new production and display facility.

When we first looked at the space, it was dreary, the toilet had a sign that we shouldn’t try to use it, and the warehouse ceiling cover had holes taped with duct tape. But, the location fronted on a busy street at 310 Via Vera Cruz in San Marcos, and we felt the price could be advantageous. However, despite the significant vacancy factor in the complex and the area, the landlord REFUSED to respond to our first Letter of Intent. The Property Manager explained that the landlord had owned the complex for years, and had never had to lower rents to the level we were offering. The Property Manager indicated a lease rate which she thought the landlord would accept. That was still too high in our estimation, and in our client’s budget. We prepared another letter outlining the reason for our revised offer that was still lower than the landlord indicated he was willing to accept. Finally, the landlord realized that we would “walk” from the location, and accepted our revised offer. You have to know your market, know your strength, and be prepared to walk away from unreasonable situations.

We were delighted to work with Stacie and Paul. We met Stacie as an active member of the Carlsbad Chamber of Commerce, and as organizer of TheMeetMarket, a networking group of entrepreneurs. Paul is a civilian radar expert for the U.S. Navy. Both of them recognized that they wanted to be entrepreneurs, and purchased My Life Tees, a great source fro sikl-screen and embroided apparel. Since buying the business they’ve had great success in expanding the business by concentrating on North County sports teams and expanding to develop Rhinestone embroidery for beautiful feminine t-shirts and blouses.

Stacie and Paul have done a wonderful job of redecorating and fixing up the space to show off their products and to efficiently produce their beautiful t-shirts and embroided apparel. Click here to go to their website where you can order on line. My Life Tees Opening

North County Industrial Vacancy – Carlsbad Highest

Posted by Lee Sterling | Posted in Carlsbad, Economics, Industrial, Market Research, Oceanside, San Marcos, Vista | Posted on 04-05-2009

industrial-buildingGrubb & Ellis\BRE Commercial (“Grubb”) is one of the leading commercial real estate brokerage companies in the area representing landlords and commercial building owners. They put out research reports quarterly on the commercial real estate market. Their first quarter of 2009 report on the industrial market covers all of San Diego, but I’m most interested in what is going on in North County.

The Grubb Report indicates that there is a total of 14,255,418 square feet of industrial space in Carlsbad, 5,331,920 square feet in Escondido, 8,498,851 in Oceanside, 7,642,154 in San Marcos, and 12,971,905 in Vista.

The total vacancy factor in each community, which includes some space available for sublease, is: Carlsbad – 19% (with 4% sublease vacancy); Escondido 6.2%; Oceanside – 14.8%; San Marcos – 8.5%; and Vista – 7.5%.

To get a copy of the full report, go to http://is.gd/wCYP

With the high vacancy factors in Carlsbad and Oceanside now is a good time to acquire new space or renegotiate your lease at favorable terms. If you’d like assistance in that regard call me at 760-230-1492 or email me at Lee@LeeSterling.com for a no cost consultation.