5 Things to Avoid When Entering Into a Lease – Office Space Edition

Congratulations –  You have, or are working within a successful business that demands office space. Now’s the time to either obtain your first office, or expand into an exciting new space to more adequately accommodate your growing workforce. Not so fast, though. As with anything, there are a few pertinent components to selecting your company’s ideal office space. Eliminate potential stress triggers when deciding to enter into a lease agreement to better focus on what matters most; your business.

5 Things to Avoid When Entering Into a Lease – Office Space 

Failure to Align with Corporate Ideals

It’s easy to get excited about a big move and disregard details that could potentially effect crucial goals of a business. Failure to clearly identify current and long-term priorities is a significant mistake any company can make when looking for office space. It is critical to take a step back and view the bigger picture in terms of what is important to you and the company. Similarly, it is important to identify how corporate image will be impacted based on the commercial space selected. Corporate image is important to convey to your customers, prospects and employees. You don’t necessarily see luxury brand retail stores situated next to a fast food restaurant or with similar aesthetics for that matter. Same ideals stand for office space, in the look, layout and feel of that particular office.

Not Properly Evaluating Layout of the Space & Location

You just signed the lease to your new office space and are over the moon with excitement. It’s move in day and the stress hits immediately by lack of storage, desk space or room for specialty equipment. Not adequately estimating the amount of space needed for equipment and employees is huge! For instance, on average, for every employee you should account for at least 151 square feet of workable space. Having too much space could pose as a short-term issue if massive growth is anticipated in the near future, otherwise those are just more budget-straining dollars that could have been allocated more effectively. Contrarily, if there is not enough space as-is with your new lease, this can hinder employee productivity and effective forms of collaboration.

Additionally, the question needs to be addressed in what type of environment does your business require? Are you going for a more traditional office space with some cubicles and closed offices? Or perhaps a modern open floor plan to maximize collaboration efforts on massive projects.

Location, location, locations – a seemingly obvious factor that is too often overlooked. When considering locations for your next office space, take into account traffic patterns, visibility from the road, what’s in the immediate surrounding area and notice if there is ample parking and public transit nearby.

Throwing Away the Budget

Easily one of the most important questions of them all – what can I afford? Do your operating expenses, payroll, HVAC, furniture, insurance, maintenance, and moving costs align with your budget? It’s also important to educate yourself on what the current market is and trends presenting themselves. Does it make sense to hold off for another year due to the stability of the economy, or will the space you desire already be occupied by then? Lastly, ask yourself if your budget matches up with your corporate image? If you’re a rising leader in the technology industry, an attractive, modernized office space in heavily populated Silicon Valley sounds like an ideal move for you. On the contrary, if you’re a smaller startup with not much funding, this would not mirror the same office space options that would better suit the technology company with more prestige and capital. To play devil’s advocate for a moment, it’s also necessary to think futuristically. Is there a lot of buzz about a specific area you’re interested in about massive development happening in the near future? Perhaps budget isn’t everything in a decision when considering the future benefits of occupying that specific location – but critical nevertheless.

Not Considering Corporate Growth & Technology 

To nod back to a the previous point of “Not Properly Evaluating Layout of the Space & Location” ask yourself what’s the future growth of the company? Are there additional options to grow my business in this location in the future, or will it require another move? Technology is also a factor in every business now which impacts the day to day functionality of operations and the execution of best industry practices. Is there a certain technology that the business needs that is only available in certain locations? Perhaps your business needs access to data centers, requires a larger electrical capacity,  or may need backup power and servers.

Choosing The Wrong Broker – Or Not Having One At All 

This can inevitably be a costly error, but does happen often. Not only on a monetary value of cost deficit – but time as well. Considering commercial real estate contracts from beginning to end average between 60 days to a couple of  years, should be enough information to call your favorite local broker right away. In addition, the fact that a company’s second or third largest cost is typically office space lease, should inject concern into the budget-conscious business mind of the decision maker. There’s infinite reasons why about 90% of all office space leases signed in the U.S. are executed with a knowledgeable broker.

 

 

Big Box Bust – A Demise to Tech Craze

The Plunge

The big box bust that’s storming through the nation doesn’t seem to be lightening up any time soon. Unprecedented  retail mega-stores now shutting down at an incomprehensible pace due to evolving consumer trends via internet purchases and accommodating delivery services.  Kmart, Toys ‘R Us, Sears, Carson Pirie Scott, Abercrombie & Fitch, Barnes & Noble, J. Crew (U.S.), GNC, even Subways are shutting the doors in large batches across the country [1]. The iconic brands dissolving across the nation not only pulls at the nostalgic heart strings of many, but sheds light on the shifting ideals of what it is to be a retailer in conjunction with progressive consumer habits or preferences. With the shopping demand surging through the internet, this has left many retailers to discover a massive decrease in sales over the past decade. Some retailers, such as Rue 21, a tween clothing store, even filing for chapter 11 before even experiencing significant financial trouble as a proactive measure that is likely an inevitable hardship tumbling their way.

Tech giant, Amazon, the world’s largest online retailer, has forever changed the way modern shopping behavior is executed. Everything from groceries, digital books, electronics, clothes, school supplies, pet food, and more can be purchased and usually delivered between a few days and even hours, depending on the type of account a user has. The unfathomable convenience bit makes shopping on Amazon extremely attractive in that one can shop for anything, at any time, and have it delivered directly to their desired location. Inevitably, as Amazon popularity skyrockets, big box retailers suffer drastically, causing a wave in the economy and the way in which commercial real estate evaluates retail sectors [2].

With vacancy rates increasing in large shopping malls, the challenge of finding occupiers for big box spaces becomes evident. Throughout the U.S., stores previously occupied by, now-bankrupt,  retailers are being converted into shared office space or restaurants.  More than ever, mall owners are welcoming unconventional tenants to obtain some of the estimated 200 million square feet of retail space that has closed, or expected to do so since early 2017 [3].

“Landlords need to be creative, strategic and quick with their large-sized vacancies — the Silicon Valley has become a hotbed for small- to mid-sized retailers coming from all parts of the country to take advantage of our increased population density and disposable income. These large vacancies can be flipped into very lucrative, higher dollar-per-square-foot units with the right strategy in place.” explains Senior Vice President, CSR Commercial Real Estate Services, Jonathan Hanhan.

Getting Creative

As countless big box stores remain vacant, the leaders in commercial real estate are challenged to think outside of the box (pun intended). Ginormous buildings with a naturally open layout, such as Macy’s department store, have been converted into movie theaters, music entertainment venues, and even sporting arenas [4]. This new wave of occupancy bingo creates massive opportunity to get creative and move fast. In conjunction with the e-commerce craze, more of these spaces are being converted into warehousing units. In other areas, restaurants, fitness centers, and office space is taking over. Iconic Silicon Valley’s tech bubble creating crisis for local retailers with the rest of the nation not far behind.

Big Box Bust - Numbers don't lie

Are you a business owner looking to buy, sell, or lease commercial property? Contact our experts today.

The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions, and changes. Although CSR Commercial Real Estate has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents. 2018 CSR Commercial Real Estate Services. All rights reserved.
Sources:
[1] https://www.kiplinger.com/slideshow/investing/T052-S001-12-retailers-that-may-soon-disappear-forever/index.html
[2] https://www.investopedia.com/news/5-companies-amazon-killing/
[3] https://www.cnbc.com/2018/08/08/coworking-spaces-are-one-way-mall-owners-are-filling-empty-stores.html
[4] CoStar

3 Notable Sales in Q2

Industry professionals, Tony Odom & Jonathan Hanhan, successfully closed deal after deal in CSR’s Commercial Real Estate division in the 2nd quarter. With a typical deal taking anywhere from 6 months to multiple years to sell, or lease, these featured time-efficient, model transactions set the bar for local competitors in the Bay Area.

425 E. Santa Clara St, located in downtown San Jose, posed as the ideal opportunity in ever-growing Silicon Valley for highly-desired office space. An increase in the implementation of collaborative office spaces in famously tech-savvy Silicon Valley has become evident in the past decade. With 9,848 SF of stand-alone office space, secured onsite parking space, and additional revenue potential created endless possibilities for eager buyers.

2730 Bayview Dr, Fremont, CA symbolizes massive breakthrough in the marketplace as CSR Commercial Real Estate strategically earned the business of Fremont with virtually no inventory in the immediate area. Not only did the 2,501 SF industrial condo complex sell in just four days, but also closed in 16 days and sold at an unprecedented price of $350 per SF.

135 El Camino Real, located in coveted  technology hub, Menlo Park, CA, sold in record timing. It’s high-traffic location, walking distance from Downtown Palo Alto, created a realization of its true rarity in having the opportunity to own in the surrounding area. The 1,450 SF building is situated in a mixed-use zone, just minutes from infamous Stanford University.

Are you a business owner looking to buy, sell, or lease commercial property? Contact our experts today.

The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions, and changes. Although CSR Commercial Real Estate has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents. 2018 CSR Commercial Real Estate Services. All rights reserved.

7 Commercial Real Estate Terms You Should Know

1. Net Operating Income (NOI)

Net Operating Income (NOI) is equal to your gross rental income minus your expenses.
NOI = Rental Income – Expenses

Those expenses do not include mortgage payments or depreciation, but specifically property expenses. NOI is the center of every commercial real estate transaction.  As the NOI increases, the property value will increase as well (and vice versa). If the NOI goes down, the property value goes down.

2. Cash on Cash Return

Cash on cash return is also known as ROI, return on investment. Cash on cash is basically one’s annual cash flow divided by owner down payment.
ROI = Return On Investment

It’s a very important concept because it’s not how much money one will spend on the property, but how fast money is coming out of the property. The time it takes to receive an overall return on investment is critical to financial cash flow as well.

3. Cap (Capitalization) Rate

A Cap Rate is used to measure a building’s performance without considering the mortgage financing.

Cap Rate = NOI divided by the sales price

A high cap rate which is between 10-12% usually typifies a higher risk investment and a low sales price. A low cap rate, is between 4-6% making for a lower risk investment with a high sales price.
If cap rate is equal to NOI divided by the sales price, one can flip that equation over and say sales price is equal to NOI divided by the cap rate.

4. Debt Coverage Ratio

This is a term used frequently among lenders. All commercial lenders want  the mortgagor (buyer) to be able to pay the mortgage and have something left over. Debt coverage ratio, DCR, determines how much is left over.

DCR = Debt Coverage Ratio

Lenders usually want to see a Debt Coverage Ratio of at least 1.2% or more. DCR can be determined by  NOI divided by annual debt service. Debt service is 12 months of mortgage payments.

5. Price Per Unit

This term is at the heart of determining what a property is worth and also what to offer when considering buying a property.  Knowing how much to pay for the property is essentially the price per unit and price per square foot.  For example, a $500,000 apartment building with 10 units would equate to a $50,000 price per unit. The same calculation can be done for the square footage.

6. Building Classification

Class A

Class A buildings represent the newest and highest quality, the best location and highest rent potential – attracting top quality tenants. Modernized buildings in ideal neighborhoods are common.

Class B

Class B buildings are usually a little older, but they’re still of exceptional quality. Oftentimes value added investors target these types of buildings as investments since well-located Class B buildings can be returned to their Class A level.  An ideal objective to have is to find a Class B building in a Class A neighborhood and renovate that building to achieve Class A rents.

Class C

Class C is the lowest official classification and the buildings are identifiable as older. Sometimes one can find Section 8 tenants inhabiting Class C buildings. They’re built in the ’80s and back.  If you are an apartment investor, these days today class C is the way to go because the ratio between the price per unit and the rents are still good.

7. Types of Leases

Apartments

There are one year leases,  9-month leases, or month-to-month leases. A strong strong legal instrument is advised to lock in any legal agreements.

Office Buildings and Shopping Centers

When it comes to Office Buildings and Shopping Centers, there are three types of leases. A full-service lease where the landlord pays for everything is identified as a “Gross Lease”. Contrarily there is a triple net lease (NNN) where the tenant pays for everything from taxes, improvements and amenities. Lastly, a modified gross lease is somewhat of a hybrid version of the previous two.

Contact a Commercial Real Estate professional today

Source: Commercial Property Advisors

Types of Commercial Leases

One of the most important aspects of managing commercial real estate includes understanding leases.

A lease is like a partnership. It outlines how the business relationship between the lessor and the lessee will proceed. Following are some types of commercial leases that you, as an investor, may encounter.

The Triple Net Lease (which is abbreviated as “NNN” in advertising) is used extensively in commercial real estate. It is popular for multi-tenant and single-tenant industrial and retail properties.

The three elements—the “triple”—are Taxes, Insurance, and Operating Expenses. In a true NNN lease (and many so-called NNN leases are not “true” NNN), the tenant pays a basic rent to the landlord, and in addition pays ALL the operating costs of the property: the real estate taxes, all the insurance premiums, and all the operating expenses—from utilities to maintenance contracts, pest control to security. The tenant is responsible for everything under this form of commercial real estate lease.

In a single-tenant building, many if not all of these costs will be directly paid by the tenant. Even the tax bill will be invoiced to the tenant. In a multi-tenant building, it is more common for the landlord to be invoiced for at least some of the operating expenses (taxes and insurance at least) that will be collected, often monthly, from each tenant according to their prorated share. This separate collection is often called “CAM,” for Common Area Maintenance (although it may include non-maintenance items such as insurance and real estate taxes).

A Gross lease, sometimes identified as a Full Service Lease, in its pure form has the tenant paying a single flat sum each period to the landlord as the total rent, with the landlord responsible for all costs of operation of the property. A one-night stay at a hotel is such a lease, as are some short apartment leases.

More often, Gross leases should be called Modified Gross, because under their terms a tenant will be required to pay some of the operating costs (electricity, water, cleaning, for example), and/or the rent each year may increase by the amount that the operating costs—or the tenant’s share of them—have increased in the previous year.

Like anything else in real estate, it is important that you understand the agreements and the terms before entering into a deal. Understanding commercial leases isn’t as difficult as performing brain surgery, but you need to do a little homework all the same.

Source: Commercial Property Advisors 

5 Ways to Simplify 1031 Exchanges

The term “1031 Exchange” in itself can be daunting as it gets thrown around often. Many people don’t fully understand what it entails but may actually heavily benefit from it. Here’s what you should know (in very black and white terms) if you’re considering this savvy option for investing in, or transferring real estate.

First, let’s discuss what is a 1031 Exchange? Section 1031 is usually associated with the commercial real estate industry, and once applied to personal property, artwork, aircrafts, commercial fishing boats, and more (but this is no longer the case). This action allows an investor to defer any capital gains taxes that would be due as a result of the sale, i.e. rental home or commercial building. If earnings from the sale are reinvested, those taxes could be avoided altogether. On the contrary, if the investor were to outright sell the investment property without the intent to put the funds toward another property, they could face capital gains taxation upwards of 20-30%; Ouch.

Now that we have a basic understanding of what 1031 Exchanges are, let’s dive a little deeper and simplify the hairier details.

5 Ways to Simplify 1031 Exchanges –

  1. Rules & Regulations –
  • The replacement property the funds are transferred to in the reinvestment must be like-kind, meaning, residential property for residential property, large commercial building for large commercial building, vacation home for vacation home.
  • Both titles must list the same owner for accuracy
  • Reinvestment must take place. The total value of the replacement property needs to be equivalent, or more than, the previously sold property to avoid capital gains taxes.

2. A Further Look, Rules & Regulations – You only need to satisfy one of the three main rules when it comes to 1031 Exchanges. Just remember “3-95-200“.

  • Identify up to 3 potential replacement properties, purchase any, or all of them, no matter their total value to properly complete the exchange.
  • This is not commonly used by investors, nevertheless should be talked about. This lesser-used option essentially allows and investor to name any number of potential replacement property of any value covering 95% of the total value of all properties owned, but there’s a downside. In light terms, while it may seem like the easiest option, read more into it, as it could actually lead you, the investor, with a bigger purchase commitment than anticipated.
  • Lastly, you have the option to identify more than 3 potential replacement properties, so long as their value does not exceed 200% of the total of the released property.

3. The Process – This one’s a peace of cake, just make sure to complete everything within the deadlines detailed in our fourth step. Keep in mind, the sale must be made into an exchange before the close of escrow of the relinquished property, otherwise, things get messy. Similarly, be sure to employ a Qualified Intermediary before you close the sale. Now, here we go:

  • Disposition of the original property (Selling it)
  • Great, now you have sales proceeds, or capital
  • Identify single or multiple replacement properties for investment
  • Take sale proceeds to your previously identified, qualified intermediary (this cannot be an agent you’ve worked with within the past two years on the sale of that property)
  • Take the investment capital and acquire a replacement property.

4. Deadlines – Set up your calendar, these are important dates.

  • Days #0-45: Sell the property and identify what is next you’d like to invest in, property-wise.
  • Day #45: Complete the identification or probable replacement property/properties.
  • Day #180: Close escrow on the replacement investment property within this time frame, or 180 days after the disposition of the sold property.

5. Resources – Certainly it’s wonderful to understand what you’re getting into, potentially, by educating yourself in 1031 exchanges. If you, or someone you know is interested in learning more and going through with a 1031 exchange, leave it to the experts and avoid hefty capital gains taxation.

Discover how the experienced and qualified professionals at CSR Real Estate Services, both residential and commercial, can help you find and close on your next 1031 exchange property or to learn more about the exchange process.

 

 

 

What rules govern the return of the security deposit to the tenant?

Q. What rules govern the return of the security deposit to the tenant?
A. Residential: Upon termination of a rental agreement on residential property, the landlord must furnish the tenant the unused portion of the security deposit and an itemized statement showing what deductions have been made, no later than 21 days after the tenant vacates the property. (Cal. Civ. Code § 1950.5(g).) The itemized statement must be accompanied by receipts or invoices issued by the person that performed the work that the deductions were used to pay for; or, if the landlord or landlord’s employee performed the work, the itemized statement must list the work that was done, the time spent, and the reasonable hourly rate charged. (Cal. Civ. Code § 1950.5(g).)
C.A.R. Sample Letter “Security Deposit Return” (Form SDR) may be used for this purpose and can be found in ZipForm within the C.A.R. Sample Letters library.
If the landlord retains any of the deposit in bad faith, s/he will be liable for up to twice the amount of the deposit in punitive damages, as well as any actual damages the tenant may suffer. (Cal. Civ. Code § 1950.5(l).)
A. Commercial: For commercial leases, the deadline for returning a deposit is generally 30 days. However, if the landlord only claims deductions from the deposit based on defaults in the payment of rent, and if the deposit exceeds one month plus the last month’s rent, then any amount exceeding one month’s rent must be returned within two weeks. (Cal. Civ. Code § 1950.7(c).) If the landlord retains any of the deposit in bad faith, s/he will be liable for up to $200 in punitive damages, as well as any actual damages the tenant may suffer. (Cal. Civ. Code § 1950.7(f).)
For more information, please see the C.A.R. Legal Q&A, Security Deposits.

Q. May a tenant take the landlord (or vice versa) to small claims court over a security deposit dispute?
A15. Yes, as long as the damages claimed do not exceed the jurisdictional limit for small claims court ($10,000 in most situations where the claim is brought by a natural person.). (Cal. Civ. Code § 1950.5(n); Cal. Code of Civ. Proc. §§ 116.220, 116.221.)

Business Purchase Financing

Business Purchase Financing – 3 Things You Need To Know To Get Approved

For those of you looking to buy a small business, there is good news on the lending front.  More lenders are coming back into the market for business purchase financing. Also more non-SBA lenders who are financing business purchases. However, just because conditions are improving doesn’t mean that securing business purchase financing will be attainable for everyone. Lenders are still being strict about who they are lending to and how much. Despite an improved outlook, lenders still want to make sure their loan gets repaid and for that, you need to be prepared! Before trying to get a loan this year, here are 3 things you need to know.

#1 – Learn About Your Options
As we’ve seen in previous years, getting a business purchase loan is no longer a matter of just walking into a lending institution and walking out with an approval.  Many business buyers have had to get creative in terms of where they secure financing from and that will be no different in the upcoming year.  As a business buyer, you should learn more about your options and really evaluate what kind of capital you have access to before you approach a traditional lender for funding.  While lenders are lending again, many people have less than perfect credit from the recession and as a result have a difficult time qualifying for traditional financing.  Being prepared with alternative funding sources is always a good idea regardless of your credit.

#2 Explore Seller Financing Options

Today, there are a lot of sellers that are willing to extend financing to the right buyer.  In fact, many lenders now require that the seller be a part of the financing mix.  It proves to the lender that the seller truly believes the buyer has what it takes to buy and run the business successfully.  To a lender, this ultimately means they will get their money back.

There are a few things you should know about seller financing.  One, you will probably pay more for the business.  When a seller offers financing options they are taking a risk, so that risk comes with a price tag.  Two, you need to be prepared to prove you are capable of running the business. Be prepared to write a business plan and to explain why you are going to be successful, it’s part of the process.

#3 Prepare, Prepare, Prepare

I can’t stress this enough.  Preparation is critical. Buyers need to get information before they make an offer and get too involved in the sale.  I suggest you get professionally pre-approved for financing and work with someone who understands how deals are structured to start you off in the right direction.

Buyers also need to be realistic about what it really means to buy a business.  For starters, they need to be realistic about what they can afford.  Don’t try to buy a business that costs millions of dollars when you have no money to contribute to the sale. Start smaller and work up to that.  Next, buyers need to know their limitations when it comes to the business itself. A buyer will be asked about their previous work experience, credit score, current salary if they are working, annual living expenses, outside sources of income, etc. so be prepared to share information in order to complete the transaction.

Lastly, understand that business purchase financing is a specialized form of financing. With that, getting approved really comes down to going to the right person at the right financial institution. Making that type of connection doesn’t come without preparation and it typically doesn’t come without the support of a specialty advisor in business purchase financing, so choose a good advisor/team to help you through this process.

Source: Peter Siegel, MBA is the Founder & President of BizBen.com.
Click here for full Article on Bizben.com

15 Years of Success

This year marks CSR‘s 15th birthday! That’s right, we’ve been around for, perhaps, longer than you’d think. While this year we celebrate success as a growing, healthy company in the heart of Silicon Valley, we couldn’t have made it this far without the progressive thinking, motivation, and family-like-culture that our Leadership Team, Staff, and Agents posses. So why is this such a big deal? Well, research supports the fact that nearly 50% of businesses fail within the first year of life, 73% within the first five years, and an astounding 96% within 10 years time. This alone makes us pretty proud to still be standing strong after year 15. 

In 2003, Bonafede brothers, Steve and Brian, decided to continue their real estate business with their own Silicon Valley flavor, along with close friend, Dave Wendt.  From the start,  it was all about family and building relationships.  The business consisted of the two brothers, their sister, Laura, and Brian’s wife, Dina Bonafede. From there, close friends joined in and provided lending services to start the company’s initial growth. Just a few short years later, in 2007, CSR grew to 50 agents and staff, despite the economic downturn. Through it’s many ups and downs, business stayed above water and the Bonafede brothers stepped up to the plate. They continued to educate veteran and new agents on how to best maneuver through the ever-changing market. Simultaneously, CSR’s Commercial Division was formed by close business partner, Tony Odom. Both businesses fought for success together and grinded it out through seemingly impossible times. While it seemed nobody could buy a house and businesses were closing left and right, somehow, CSR made it through to the light at the end of the tunnel.

2012 rolled around and the company was in need for a few adjustments in order to maintain growth among Silicon Valley’s vast technology boom. That year, Terry Meyer, VP of Operations & Broker Associate, joined the CSR family. With heavy knowledge and experience within the real estate arena, Terry was able to collaborate with the Bonafede brothers and act as the glue that held the expanding company together through recruiting, branding, and promoting a company culture of inclusiveness and education. The following year, in 2013, Duane Hood joined forces with the Commercial division, thus forming CSR Commercial Capital, which provides comprehensive financing solutions.

The next year, in 2014 CSR Cares was born. One of the guiding principles at CSR is that we support and ignite positive change in the community where we work and live. The foundation is a non-profit organization focused on supporting and benefiting children within our community. To this day, CSR Cares has raised over $1,000,000 in an effort to support the well-being of children and the community. 2016 came around and our agent pool grew to 70 agents and staff, and exceeded 100 agents the following year.

2017 was a big year for CSR. Not only did we expand to Roseville, CA, we also can check a successful business merge off the bucket list. In September 2017, Silicon Valley Associates (SVA) joined forces with CSR and appointed Don Jessup as Vice President. In the latest news, both CSR Residential and CSR Commercial divisions have been recognized by Silicon Valley Business Journal and named in the Top 10 Real Estate Firms in Silicon Valley. Here’s to 15 years of success and many, many more.

CSR Commercial Real Estate Welcomes Erika Cervantes

The Commercial division at CSR Real Estate Services welcomes Erika Cervantes to the team as Commercial Leasing & Sales Manager. Ms. Cervantes began her Commercial Real Estate career working directly for one of the largest individual commercial property owners in the Bay Area. Ms. Cervantes has dealt with all aspects of commercial leasing and property management for nearly a decade. From tenant management, building maintenance, leasing of retail, office & industrial property types, Erika demonstrates professional excellence throughout her career.

Being bilingual, Erika is able to connect with a larger audience and gain trust from the masses. Ms. Cervantes’ success lies within her philosophy, that if you take care of your clients, they will take care of you.

“Beyond Erika’s experience and skills, her will to go well above and beyond, and her driving force of doing what is in her clients’ best interest is why we knew we had to have her on our team” explains Jonathan Hanhan, CSR Commercial.

Ms. Cervantes is a strategic and key addition to support the growing Commercial team with Tony Odom and Jonathan Hanhan in the expansion and sustainability of quality care and service to their key clients. Her technical skill set, character and congruency with CSR’s culture, of doing what is best for clients, is what makes this career marriage the ideal match.

But wait, that’s not all; Erika also values community outreach and helping others in need which is a perfect parallel to CSR’s Charity, CSR Cares. For over 6 years, Erika has dedicated her time and efforts towards assisting the homeless and is on the Board of Directors for the Youth at Risk Organization.

Welcome to CSR, Erika!

Erika Cervantes

Commercial Leasing and Sales Manager

(c) 408.648.7514

(f) 408.559.5505

(o) 408.558.5000 Ext. 7351

Erika@CSRCommercial.com