Colliers International - Spencer Croshaw

Colliers International - Spencer Croshaw Commercial Real Estate Services along the Wasatch Front

01/29/2025

**Commercial Real Estate 101: Is Free Rent Really Free?**

When negotiating a commercial lease, “free rent” is a common concession—but is it truly free? The answer depends on how the lease is structured. Here’s what you need to know:

1. **Landlords Don’t Give Something for Nothing** – Free rent is a strategic incentive, not a giveaway. Landlords use it to attract tenants, fill vacancies, and secure long-term commitments. Understanding their motivations can help you negotiate better terms.

2. **Offsetting with Higher Base Rent** – In some cases, landlords compensate for free rent by increasing the overall rental rate. Always analyze the total lease value to ensure you're not paying more elsewhere.

3. **Lease Length Matters** – Free rent is often tied to longer lease commitments. While this can be beneficial, ensure the length aligns with your business needs.

4. **Operating Expenses Still Apply** – Even with free rent, tenants may still be responsible for common area maintenance (CAM), property taxes, and insurance costs. Review the lease carefully to avoid surprises.

5. **Negotiation Strategy is Key** – A skilled broker can help structure a deal where free rent truly benefits your bottom line, rather than being offset elsewhere in the lease terms.

Free rent can be a valuable incentive if structured properly. If you're considering a new lease or renewal, let’s discuss how to maximize the benefits while avoiding hidden costs.

01/14/2025

**Commercial Real Estate 101: What Is a Cap Rate?**

If you're new to commercial real estate investing, you’ve likely heard the term **cap rate** thrown around. But what is it, and why is it so important to investors?

The **capitalization rate (cap rate)** is a key metric used to evaluate the potential return on an investment property. It’s calculated using this simple formula:

📊 **Cap Rate = (Net Operating Income ÷ Property Value) × 100**

For example, if a property has a Net Operating Income (NOI) of $100,000 and is valued at $1,000,000, the cap rate would be 10%.

🔑 **Why Should You Care?**
1️⃣ **Measures Risk vs. Return:** Higher cap rates often indicate higher risk, while lower cap rates suggest more stability.
2️⃣ **Compares Investment Opportunities:** Cap rates let you evaluate different properties side by side, helping you decide which aligns with your goals.
3️⃣ **Helps with Valuation:** Investors use cap rates to estimate a property’s value based on its income potential.

Understanding cap rates is essential for making smart investment decisions in commercial real estate. It’s one of the first steps to analyzing a deal effectively.

💬 **Have questions about cap rates or want help analyzing your next deal? Reach out today!**
📞 **Spencer Croshaw**
📧 **[email protected]**
📱 **801-830-7690**

Let’s connect and strategize your next real estate move!

🚗 **Market Insights: Auto Parts Stores Closing in Utah and Beyond** As a commercial real estate professional, I keep a ...
01/13/2025

🚗 **Market Insights: Auto Parts Stores Closing in Utah and Beyond**

As a commercial real estate professional, I keep a close eye on trends that impact our local and national retail markets. One significant shift is the closure of some auto parts stores, including the Advance Auto Parts location in **Orem, Utah**.

Here’s what’s driving this trend:

🔧 **Declining In-Store Traffic**: The rise of eCommerce has significantly changed how consumers shop for auto parts, with more people opting for the convenience of online ordering.

💰 **Economic Pressures**: Inflation and tighter household budgets are leading many to defer vehicle maintenance, impacting sales for brick-and-mortar auto parts stores.

📉 **Shifts in Demand**: Non-essential auto parts and accessories are seeing reduced demand, affecting stores' overall profitability.

While these closures highlight challenges for retailers, they also present **opportunities** for repositioning commercial properties. Vacated spaces could be reimagined for more in-demand uses, like industrial, medical, or eCommerce fulfillment centers.

If you’re curious about how retail trends might affect your investments or are exploring new opportunities in the commercial real estate market, I’d love to chat. Let’s connect!

01/10/2025

**🏢 Looking for Commercial Real Estate? Let Me Make It Easy (and Cost-Effective) for You! 💼**

Did you know that when you hire me, **Spencer Croshaw**, as your commercial real estate agent to represent you as a Buyer or Tenant, **you typically don’t pay out of pocket for my professional services**?

Here’s how it works:
📌 My commission is often paid by the seller or landlord as part of the transaction.
📌 You get expert representation and guidance without the financial burden.
📌 I’ll negotiate fiercely on your behalf to ensure you secure the best deal, saving you time, stress, and money.

**Why It’s Beneficial for You:**
✅ Access to market insights and off-market opportunities.
✅ Expertise in lease or purchase negotiations.
✅ Professional guidance throughout the entire process—no guesswork needed.

✨ Hiring me means you can focus on your business while I focus on finding the perfect space for you!

**📲 Ready to get started?**
Let’s discuss your needs and find the ideal property for your business. Call or text me at **801-830-7690**, email me at **[email protected]**, or DM me.

Your next move starts here with **Spencer Croshaw at Colliers! 🚀**

Question for You! Have you ever worked with a commercial real estate agent? 🤝 Whether it was leasing an office, buying ...
01/08/2025

Question for You!

Have you ever worked with a commercial real estate agent? 🤝 Whether it was leasing an office, buying an investment property, or anything in between, I’d love to hear about your experience!

What went well? What could have been better? And if you haven’t worked with one yet, what would an agent need to do to earn your business?

Your feedback means a lot—feel free to share your thoughts in the comments! 👇

01/07/2025

**Commercial Leasing Tip: Don't Forget to Ask for Free Rent!**

When negotiating a commercial lease, one of the most overlooked opportunities is **asking for free rent**, also known as **abated rent**. This is a common concession landlords offer, especially in today's competitive market.

Here’s why it’s worth asking:
📈 **Cash Flow Relief**: Starting a business or expanding to a new space comes with upfront costs. Free rent gives you breathing room to allocate funds where they’re needed most.

🛠️ **Buildout Flexibility**: Need time for renovations or setting up your operations? Free rent can cover those months, ensuring you’re not paying rent on an unusable space.

🤝 **Win-Win Negotiations**: Landlords often prefer offering concessions like free rent instead of lowering the base rent, preserving the long-term value of the property while helping you get started.

💡 **Pro Tip**: The amount of free rent you can negotiate often depends on the lease term, market conditions, and the type of space. Work with a seasoned broker to ensure you're getting the best deal possible.

📞 **Let’s Talk!**
Reach out to Spencer Croshaw with Colliers for expert advice and strategies to maximize your leasing value.
📲 **Phone**: 801-830-7690
📧 **Email**: [email protected]

As we step into 2025, one thing is certain: the future holds surprises for all of us. In the ever-changing world of comm...
01/06/2025

As we step into 2025, one thing is certain: the future holds surprises for all of us. In the ever-changing world of commercial real estate, uncertainty is part of the game—but so is opportunity.

While no one knows exactly what this year will bring, I’ve got the expertise, industry insight, and understanding of the trends to help navigate whatever comes our way. Whether it's new market dynamics, shifts in demand, or emerging investment opportunities, I’m here to guide you.

Stay tuned to my posts for updates and insights into what’s actually happening in commercial real estate this year. Let’s face 2025 together—ready for the challenges, equipped for the changes, and focused on success.

12/17/2024

THINKING OF PURCHASING COMMERCIAL REAL ESTATE SOON?? LET'S TALK FINANCING....

SBA Financing vs. Conventional Financing: Which is Right for Your Business?

When it comes to commercial real estate, choosing the right financing can make all the difference. Let’s break down the key differences, advantages, and who benefits most:
🔹 SBA Financing (Small Business Administration):
✅ Lower Down Payments – As little as 10% down, conserving your cash flow.
✅ Longer Loan Terms – Up to 25 years, reducing monthly payments.
✅ Government-Backed – Less risk for lenders means more flexible qualification standards.
🔸 Best Suited For: Small business owners looking to purchase or expand their space with less upfront cost.
🔹 Conventional Financing:
✅ Higher Loan Amounts – Often better for larger projects or more established borrowers.
✅ Faster Approvals – Fewer government-related steps streamline the process.
✅ Competitive Rates – For those with strong credit and financials.
🔸 Best Suited For: Experienced investors or businesses with significant capital looking for flexibility and speed.
Bottom Line:
If you’re a small business focused on cash flow, SBA loans can open doors with lower down payments and longer terms.
For seasoned investors or larger-scale projects, conventional financing may offer the flexibility and speed you need.

Not sure which option fits your goals? Let’s connect and discuss your next opportunity in commercial real estate!

12/16/2024

Commercial Real Estate 101 - Tenant Improvement Allowance

**What to Expect When Negotiating a Tenant Improvement Allowance (TIA)**

🏢 **Thinking about leasing commercial space?** Negotiating a Tenant Improvement Allowance (TIA) with your landlord is a key part of securing the right space for your business. Here’s what you need to know:

1️⃣ **Understand Your Needs**: Before approaching the landlord, have a clear idea of what renovations or buildouts you’ll need to make the space work for your business. Think layout, flooring, walls, lighting, HVAC, and more.

2️⃣ **Landlords Value Long-Term Tenants**: The length of your lease plays a big role in how much TIA you can secure. A longer lease (5–10 years) gives landlords more time to recoup their investment and may lead to higher allowances.

3️⃣ **Allowance Isn’t Free Money**: While TIA reduces your upfront costs, landlords usually bake the cost into the overall lease structure. Expect some negotiation on rent to balance the allowance.

4️⃣ **Present a Strong Business Case**: Landlords are more likely to invest in improvements for tenants with solid financials and a strong business model. Be prepared to show them why you're a reliable partner.

5️⃣ **Timing is Key**: TIAs often come with restrictions on how and when the funds can be used. Make sure your buildout timeline aligns with the lease terms and landlord approvals.

6️⃣ **Get Expert Help**: Working with a commercial real estate professional can help you navigate the process, compare offers, and ensure you’re getting a fair deal.

Tenant improvement negotiations are an art and a science, but with the right approach, you can create a space that works for your business without breaking the bank.

📩 Have questions or need help with a lease negotiation? Let’s talk!

Spencer Croshaw
Colliers
801 830-7690

Why Consider a Long-Term Lease for Your Business?Locking in a long-term lease in commercial real estate can be a game-ch...
12/04/2024

Why Consider a Long-Term Lease for Your Business?

Locking in a long-term lease in commercial real estate can be a game-changer for your business. Here’s why:

✅ Stability for Growth: A fixed location lets your customers know where to find you, building trust and brand recognition over time.

✅ Cost Predictability: Protect yourself from rent hikes by securing consistent lease terms, allowing for better budgeting and financial planning.

✅ Customization Opportunities: Landlords are often more willing to invest in property improvements for tenants with long-term commitments, helping you create a space tailored to your needs.

✅ Negotiating Power: Long-term leases may come with perks like lower rent rates or additional amenities, giving you more value for your investment.

Whether you’re expanding your business or securing a reliable base, a long-term lease can provide the foundation for success.

Need guidance navigating your options? Let’s connect!

Ready to score the best deal? Here are some handy tips for negotiating your next commercial real estate purchase: 1. Do...
11/18/2024

Ready to score the best deal? Here are some handy tips for negotiating your next commercial real estate purchase:

1. Do your homework
2. Know your budget
3. Stay calm and patient
4. Don’t be afraid to walk away
5. Keep the conversation open and friendly!

What’s your go-to negotiation tactic? Share in the comments!

Thinking about leasing or purchasing commercial real estate? Hiring an experienced agent can make all the difference! T...
11/15/2024

Thinking about leasing or purchasing commercial real estate? Hiring an experienced agent can make all the difference! They know the ins and outs, negotiate like pros, and help you snag the best deals. Plus, you can focus on your business while they handle the heavy lifting. Are you ready to level up your real estate game?

Address

2100 W Pleasant Grove Boulevard
Pleasant Grove, UT
84062

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 6pm
Wednesday 9am - 5pm
Thursday 9am - 6pm
Friday 9am - 5pm

Telephone

+18017024689

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