Commercial Property Rental Sample Proposal

Lease of Wendova Building to Florida Secure Credit Union FSCU

It has come to our attention that Florida Secure Credit Union is seeking a location for a new Miami branch, and we believe that we have the perfect building for you. At Cmax Commercial Real Estate, we take pride in knowing our clients and matching businesses with facilities that will efficiently serve both their present and future needs. As fellow Floridians, we are well acquainted with your company, and we understand the type of facilities a mid-size credit union requires.

Did you know that the Wendova Building at 1400 Marine Circle has recently become available for lease. It’s easy-to-access location is desirable for a high-traffic business such as yours, and its interior can easily be remodeled to accommodate the waiting areas, teller counters, and offices that your credit union would require. In fact, we believe that you will find most of the interior will meet your needs as is, reducing the cost of remodeling before moving in. You can find more information about the Wendova Building in the following pages.

We strongly believe our proposal has been thoroughly outlined and will meet or exceed all of your expectations and requirements. This building is highly desirable for many mid-size businesses and will rent quickly, so we will call you within a few days to schedule a walk-through and answer any questions you may have. Thank you for your consideration and for putting your trust in Cmax Commercial Real Estate. Cmax Commercial Real Estate manages multiple properties in the Miami area.

We pride ourselves on knowing the companies operating in our neighborhoods and are eager to meet their needs. We believe that the Wendova Building is perfect for the new Florida Secure Credit Union branch office.

The Objective

Florida Secure Credit Union desires a long-term lease on a building in Miami for their new branch office. A high-traffic location with easy access for customers. A building that can accommodate multiple offices, a large lobby and waiting area, teller counters, secure vault facility, and two drive-up teller windows. Parking for at least 20 cars.

The Opportunity

The Wendova Building, which has most recently housed a large drug and health supplement retail company, has become available for lease, and has many features that match the needs of the credit union. In fact, the tenant prior to the drug company was a small bank. The Wendova Building is ideally situated at the corner of Ash and Broadmore Avenues, with easy access from both these busy streets, and close to a major shopping mall and commercial strip. The Wendova Building contains 1420 square feet of interior space that can be easily remodeled for Florida Secure Credit Union’s use.

At the rear of the building are two drive-up facilities, originally installed by the small bank that built the Wendova Building. Only one drive-up window was utilized by the most recent tenant for prescription deliveries, but both drive-up facilities can be easily renovated for credit union transactions. The parking lot that accompanies the Wendova Building contains spaces for 20 compact vehicles, eight oversize vehicles, and two handicapped parking spaces.

The Solution

Cmax Commercial Real Estate will facilitate Florida Secure Credit Union’s lease of the Wendova Building, and can assist in arranging for appropriate remodeling services. Florida Secure Credit Union should tour the Wendova Building as soon as possible to verify that it meets all the needs for the credit union’s new branch office. Florida Secure Credit Union should enter into a long-term agreement with Cmax Commercial Real Estate to lease the Wendova Building.

Leases of up to 20 years are currently available. After securing a long-term lease, Florida Secure Credit Union should remodel the Wendova Building to meet all its requirements for the new branch office. Cmax Commercial Real Estate is pleased to make this offer to Florida Secure Credit Union, and Cmax Commercial Real Estate is ready to assist the leasing and remodel processes in any way we can. The Wendova Building has been occupied by clients since its construction in 1978.

Its HVAC and electrical systems have been updated several times.

Electricity

The building contains a forced air furnace that is rarely used most of the year. Most electrical usage is for air conditioning, lighting, and computer usage. Electrical bills for the last year ranged from a low of $590 in March to $1530 in August.

Bills for water during the last year varied little from month to month, averaging $425 per month. The Wendova Building pays the standard rate for a footprint building of its size with two bathrooms. The Wendova Building is wired for telephone and high-speed cable services.

Cell phone coverage is extensive both inside and out of the building. We believe you’ll that find the utility systems current available in the Wendova Building can efficiently meet your needs. The Wendova Building is a large rectangle that can be easily remodeled to suit your needs.

Walls can be added, relocated, or removed to create offices and waiting areas as needed. Electrical outlets in exterior walls, floors, and ceilings are abundant. The bathrooms and small kitchen in the northeast corner of the building have extensive plumbing fixtures that would be desirable to leave in place, and the HVAC system is contained in a large utility closet in that corner as well.

As the exterior walls are thick concrete and the northwest corner is windowless, a vault could be constructed there. You can review the current floor plan and see photos on our website. Cmax Commercial Real Estate proposes to maintain the exterior of the Wendova Building in the following manner.

Maintenance Tasks Schedule

Wash all windows and glass entry doors, inside and out. Every 30 days. Mow lawn, maintain all plantings in attractive manner, and manage sprinkler system.

Every 14 days or as needed per season. Pressure wash and evaluate exterior surface of building. Every six months.

Repaint and repair exterior. Annually, or as needed in case of weather or accident. Janitorial services for the interior of the building may also be provided on request for an additional monthly charge.

The Wendova Building can be easily remodeled to suit the needs of Florida Secure Credit Union. Build or remove walls. If the current interior configuration of offices does not meet the credit union’s needs, walls can easily be constructed or removed, as the building is steel-framed and no interior walls are load-bearing.

Fulfill lighting & electrical needs. The Wendova Building currently contains a large number of electrical outlets in the floors and ceilings as well as in the exterior walls. Cmax Commercial Real Estate believes these can be easily modified, added to, or moved to meet Florida Secure Credit Union’s needs. The main panel currently has three unused slots.

In the event that many additional electrical circuits are needed, the main electrical panel may require upgrading. Establish a secure bank vault. As the Wendova Building is built on a thick concrete slab instead of a raised foundation, the weight of a new bank vault should be no problem.

The previous tenant had a vault in the windowless northwest corner of the building. Exterior walls are thick concrete that provide adequate security. Introduce state of the art security system.

The Wendova Building was previously used as a bank, it contains the wiring for a security system that monitors all windows and doors. However, as security systems have advanced since the building was last used, Florida Secure Credit Union will want to install a state-of-the-art system for their protection. According to standard lease provisions, remodeling is the responsibility of the building tenant.

However, if desired, Cmax Commercial Real Estate can arrange and oversee remodeling to Florida Secure Credit Union’s specifications. Should Florida Secure Credit Union find the Wendova Building acceptable for its use as-is or with minimal remodels, Cmax Commercial Real Estate would consider leasing it on a month by month basis. Month-to-month rental of Wendova Building. If Florida Secure Credit Union would like to occupy the Wendova Building as-is without a major remodel, a monthly rental agreement can be arranged.

Special Requirements

Florida Secure Credit Union agrees to accept the building as is. Any remodels must be approved by Cmax Commercial Real Estate. Cmax Commercial Real Estate agrees to pay all property taxes and utilities and maintain the building.

Cmax Commercial Real Estate has additional properties that Florida Secure Credit Union may want to consider for additional branch offices. Unit #56, Orange Grove Shopping Mall. This is a 600 square foot space in the busy Orange Grove Mall, perfect for a small credit union branch.

Two interlocking glass doors secure the space when not in use. Counters, furniture, and all systems to be installed, maintained, and removed by tenant. $4,200 per month, all utilities included.

Security to be provided by mall security.

SW Corner of Supreme Market Building

This 590-square-foot space was formerly occupied by a coffee shop, but could be repurposed as a small branch bank location. A roll-down security door closes off the space when not in use. Counters, furniture, and all systems to be installed, maintained, and removed by tenant. $3950 per month, all utilities included.

The optimum arrangement for Florida Secure Credit Union is to lease the Wendova Building for a minimum of two years.

Benefits

Leasing offers a less-expensive monthly payment for use of the property, and also allows for extensive remodeling of the interior. Leasing may also provide Florida Secure Credit Union with tax advantages that a month-to-month rental would not.

Terms

$95,000 per year with a minimum two-year lease. Florida Secure Credit Union would have full freedom to remodel and maintain building interior as desired. Cmax Commercial Real Estate will pay all property taxes and insurance and maintain exterior of building and grounds as specified in the maintenance contract. Lessee must pay the full cost of the lease, regardless of any business circumstances that may occur.

Summary

Cmax Commercial Real Estate believes that a minimum two-year lease arrangement would be most beneficial for Florida Secure Credit Union. Longer term leases are also available.