[EMS Discuss] 1121 Fairfield at the Gilbert shopping center

Rick Osgood EMAIL HIDDEN
Wed Sep 11 16:16:28 PDT 2013


I guess we'll have to find out what "low" is and see if it's worth the risk.


On Wed, Sep 11, 2013 at 3:28 PM, Mr. Clif <EMAIL HIDDEN> wrote:

> 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**com<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<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/>
>>>> <
>>>> 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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