Commercial real estate investment: A strategic approach.
Andrew Baum.
- 2nd ed.
- Oxon : EG Books; 2009.
- xiv, 413 p. : ill. ; 28 cm.
Includes bibliographical references (p. 183-189) and index.
Commercial real estate as a business -- Overview, learning objectives and key terminology -- The commercial real estate business -- Agency relationships -- The commercial real estate brokerage business -- Agency relationships & commercial real estate brokerage -- Fiduciary relationships & commercial real estate brokerage -- Licensure requirements & commercial real estate brokerage -- The role of a commercial real estate broker -- Combining opportunities in commercial real estate -- Commercial real estate and the financing industry -- Commercial real estate and the appraisal industry -- Commercial real estate and the investment services industry -- Commercial real estate and the counseling industry -- Commercial real estate and related industries -- Commercial real estate and investment banking -- Introduction to commercial brokerage transactions -- Commercial transaction from the seller's perspective -- Commercial transaction from the buyer's perspective -- Commercial transactions from the deal perspective -- Summary -- Review questions -- Commercial property types & office properties -- Overview, learning objectives and key terminology -- The nature of commercial real estate -- Commercial property types -- Definition of an office building -- Trends impacting office properties -- Office building classifications -- Location of office buildings -- Office building design standards -- Office building measurement standards -- Office building leasing, rental and expense standards -- Summary -- Review questions -- Retail properties -- Overview, learning objectives and key terminology -- Definition of a retail building -- Trends impacting retail properties -- Classification of retailers -- Retail building classifications -- Tradition shopping centers -- Specialty shopping centers -- Location of retail buildings -- Retail building design standards -- Retail building measurement standards -- Retail building leasing, rental and expense standards -- Summary -- Review questions -- Commercial real estate as an investment -- Overview, learning objectives and key terminology -- What real estate investors expect? -- Advantages of commercial real estate as an investment -- Cash flow -- Tax shelter -- Property depreciation -- Mortgage debt reduction -- Property appreciation -- Equity build-up -- Combining the advantages of commercial real estate -- Disadvantages of commercial real estate as an investment -- Capital intensive -- Long term in nature -- Non-liquid -- Management intensive -- Economic, market and property related risk -- Opportunity cost of capital -- Summary -- Review questions -- Market analysis for commercial real estate -- Overview, learning objectives and key terminology -- What is market analysis? -- Market analysis defined -- Real estate markets -- Selection process -- The market for real estate is inefficient -- Example of market analysis -- Who uses market analysis? -- Relevance to commercial real estate investment -- Market analysis flow chart -- Approach to market analysis -- Economic information -- Characteristics of demand -- Characteristics of supply -- Interaction of supply and demand -- Property market share analysis -- Property management and marketing strategies -- Alternative use and exit strategy analysis -- Forecasted performance of investment property -- Continuum of market analysis with other forms of analysis -- Summary -- Review questions -- Addendum -- Chapter review question answer key -- Web site directory.