[EMS Discuss] 1121 Fairfield at the Gilbert shopping center

Mr. Clif EMAIL HIDDEN
Wed Sep 11 15:28:09 PDT 2013


Wow, you guys have all decided something based on incorrect information. 
Now I could have given up on that property or I could have decided to 
ask more questions. What to do?

The Realtor just called me and said that tipple net is usually capped in 
the lease contract, and for a building like this one which hasn't been 
occupied in three or so years the cap would likely be very low. If the 
owner doesn't agree then you walk away. I imagine the negotiation 
process will be identical to the 4611 Franklin property. So why consider 
one and not the other?

     Clif

James Hukill wrote:
> Third this.
>
> --James
>
>
> On Wed, Sep 11, 2013 at 1:59 PM, Rick Osgood<EMAIL HIDDEN>wrote:
>
>> I personally feel the same way.  Triple Net: The Killer of Deals.
>>
>>
>> On Wed, Sep 11, 2013 at 12:48 PM,<EMAIL HIDDEN>  wrote:
>>
>>> Triple net sounds like an automatic deal killer to me.
>>>
>>>> http://en.wikipedia.org/wiki/NNN_Lease
>>>>
>>>> On Tue, Sep 10, 2013 at 1:28 PM,<EMAIL HIDDEN>  wrote:
>>>>> I was just about to ask what "triple net" means.  I would definitely
>>> like to know more about what the limits are on
>>>>> that.  I mean, if during out tenancy a water line ruptures over the
>>> weekend....  What then?  Sounds like we might
>>>>> need
>>>>> to have our own insurance, too.
>>>>>
>>>>>> Yes probably, but they estimate the total NNN cost to be only an
>>>>>> additional 4c / sqft. If all we have to do is climb up on the roof and
>>>>>> spread black jack around once in a while it might not be that bad. ;-)
>>>>>>
>>>>>>       Clif
>>>>>>
>>>>>> Rick Osgood wrote:
>>>>>>> That space sounds pretty awesome, and the price and size are
>>> fantastic.  I
>>>>>>> do worry about any spaces marked "triple net" though.  Doesn't that
>>>>>>> generally mean that we are responsible for the space as if we own
>>> it, only
>>>>>>> we don't actually own it?  Like it's our responsibility to make
>>> repairs,
>>>>>>> keep the place maintained, etc.  We can't really call the owner for
>>> any
>>>>>>> problems.
>>>>>>>
>>>>>>>
>>>>>>> On Tue, Sep 10, 2013 at 11:55 AM, Mr. Clif<EMAIL HIDDEN>
>>>   wrote:
>>>>>>>> Hi Gang,
>>>>>>>>
>>>>>>>> Just popped out this morning to check the outside of this space some
>>>>>>>> pictures are here:
>>>>>>>>
>>>>>>>>
>>> http://www.eugeneweb.com/**gallery2/v/clif/Geeky/EMS/**1121_Fairfield/<
>>> http://www.eugeneweb.com/gallery2/v/clif/Geeky/EMS/1121_Fairfield/>
>>>>>>>> Bullet points:
>>>>>>>>
>>>>>>>> # $1250 / 5000ft² 25c / sqft Mostly office space at the Gilbert
>>> shopping
>>>>>>>> center (1121 Fairfield)
>>>>>>>> # 20 foot ceilings, 10 foot roll up door 2 entries with electronic
>>> door
>>>>>>>> locks! Tons of parking, triple net.
>>>>>>>> # Only 12 minuets from downtown, and close to Jerry's. More office
>>> space
>>>>>>>> than we could possibly sublet out.
>>>>>>>> # Next door to Lane Educational School District (ESD) offices,
>>> might be a
>>>>>>>> way to get on their radar and some support?
>>>>>>>>
>>>>>>>> This is now the CHEAPEST place in Eugene on our list. I think a
>>> part of
>>>>>>>> this space could be used as a shop especially if the carpet is old
>>> and
>>>>>>>> ratty. ;-)
>>>>>>>>
>>>>>>>>       Comments?
>>>>>>>>       Clif
>>>>>>>> ______________________________**_________________
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>>>>>
>>>>>
>>>>>
>>>>>
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>>>>
>>>> --
>>>> Bob Miller                              K<bob>
>>>>                                          EMAIL HIDDEN
>>>>
>>>>
>>>
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