Commercial Lease

The Commercial Lease page allows you to calculate a property's summarized $ per SF in a monthly and yearly range based upon the effective rent of each parcel's individual tenants and lessees and offers a robust set of fields for data entry. The page also allows you to view a property's tenant or lessee information, displaying the unit's size alongside the effective price per square foot in a monthly and yearly projection. There are several important buttons at the top of the page: Instance Select, Create, Copy, and Delete.  

Action Bar

Instance Select

Click the Instance Select drop-down menu to select the instance you'd like to edit.  

Edit the instance name by editing the Survey Date and/or the Instance Type. Users can choose the following Instance Types: Actual and Appraisal. 

• The Actual Instance Type can be used for capturing actual rent roll data.
• The Appraisal Instance Type can be used for capturing hypothetical rent data or a smaller selection of unit leases. As an example, a Property has 100 leases that are captured in an instance. The user could create a copy of that instance and delete any leases that were extraneous for the purposes of their report. This would allow the user to display a limited number of leases on their comp sheets.

Create

Click the Create button to open a pop-up with options to create a new instance. You will be able to enter a Survey Date and define an Instance Type. Note that this new instance will automatically become the “Active” instance. The Active instance of Comm Lease data will be used to derive calculations. Regardless of which instance the user chooses to pull into Excel, the active instance will stay the same until a new instance is created or copied.

<>Copy 

<>Click the Copy button to open a pop-up with options to copy an existing instance. 

You will be able to define Survey Date and Instance Type, but the values will be a copy of those in the currently-selected instance record. 

Delete

Click the Delete button to delete the currently-selected instance. A pop-up will request confirmation. 

Used by Excel

Regardless of whether the instance is “Active” or current, a user can mark whether they want to utilize the instance in their Excel template (for subject import or for use as a comp). 

The Active instance Comm Lease data will be used to derive calculations. The active instance data is also what will be available for Property Searches.

The Confidential toggle indicates that the information on this page is sensitive and should be viewed by appropriate personnel only. Flagging a parcel as Confidential does not impact it anywhere beyond this page. 

Rent Summary

A parcel's Rent Summary is, by default, blank. A user can choose to hand-enter the values to circumvent vacant tenant entries.

After entering all tenants in the Rent Detail, hand-enter or use the Calculation buttons to auto-calculate values from the Rent Detail. 

Use the Commercial Vacancy field to collect Vacancy percentage specific to the instance and in cases of a mixed use property. 

Anchors and Shadow Anchors fields can be utilized to capture anchor data specific to the property.

Rent Detail

 To add a new tenant:

1. Click Add New; a blank row will appear within Rent Detail.
2. Enter the Tenant/Lessee, Size (Square Footage), Start Date, Expire Date and either the Eff.$/Year or Eff. $/Mo.; typing into either of these fields will cause the other to auto-calculate as well as the per SF derivatives.
3. There are additional fields you may wish to capture for the tenant such as Transaction Type and/or Percent Office. To add these fields, click the column chooser button to add, remove and reorder the fields.

To copy a single tenant:

1. Click on the tenant you wish to copy and click the Copy button at the bottom of the grid.

To delete a tenant:

1. Toggle the checkbox beside the desired tenant(s).
2. Click Delete Selected.

To adjust the ordering of tenants:

1. Select the sandwich icon to the left of the tenant you wish to reorder and drag and drop.

OR

2. Use the sorting feature in the grid to sort the tenants to your preference and click Sync Indexes.

Numeric data is aggregated in the footer row of the rent detail grid to assist in analysis. 

Click Save Changes to save changes made to the detail rows, such as after adding new entries, making copies, or deleting entries. Changes will NOT be saved when you navigate away from the Commercial Lease page unless Save Changes has been clicked.

Modifying the Rent Detail Table

Column Chooser

The column chooser is an easy method to display preferred data. Click the Column Chooser button to select columns.

The Column Chooser menu opens:

• Add/remove columns by checking/unchecking boxes.
• Type a column name in the search box at the top of the menu to filter the menu items by that phrase.
• The number of columns currently displayed in the search grid is listed at the bottom of the menu.
• Click Done to apply the changes and close the menu.

Click the down arrow and then the Reset Grid button to reset the grid to the default columns.

Customize Column Positions

Click and drag a column header to move that column. 

Remember to click the Save Grid button to persist columns, order and sorting preferences between sessions.

Export to Excel

Export appraisers to a .xlsx file from the appraiser grid. Click Export to Excel to download the data with the columns that are in the search results table. 

Click the split button and then Export all fields to download an .xlsx file containing data from ALL columns, including those currently in the search results table.

Sorting

Click on a column header to sort the table by that column in ascending order. Click again to sort in descending order. Click a third time to remove the sorting from that column. The table can be sorted by multiple columns concurrently.

In the example above, the table is sorted by the Eff. Rent Per...,  Eff. Per SF, and  Eff Per SF P... columns, with Eff. Per SF having priority.  

Non-Instanced User Assigned Fields

The Non-Instanced User Assigned Fields section displays any fields the user assigned to the page in the Customize Pages tool. Refer to Custom Pages and Fields for more information.

Note: The above is an example only; your organization may choose to associate different User Assigned Fields with the page, or none at all.

Comm Lease Comments

Comments added to this page should be used to describe the commercial lease status of the property. These comments will be utilized in the comp sheets on the Lease Grid in the Excel template. 

Notes on Commercial Lease Data: Tenant data within the Commercial Lease page is accessible within the Lease Grid. An Admin may also use the export functionality on the Search pages to receive a flat file of the property information. Data will be pivoted with a Comm 1, Comm 2 prepend.