Please be careful with malls. They often have strict opening and closing hours which might not work with your operations. For example, mall stores often open at 10 but you might want 8am or 9am office hours.
Then there’s the shared HVAC in big buildings like this where you have to pay for extended hours, just like in class A buildings. Often $100-150/hour. Exorbitant. You can negotiate any revenue share. The numbers will be dictated by your profitability and the landlord’s motivation. The LL might want market rate or simply break even, if even that, to generate foot traffic in his mall. Jerome www.BLANKSPACES.com > On Jul 7, 2018, at 8:09 AM, [email protected] wrote: > > Thanks! Rev Share. Thats the term I was looking for! The space we are looking > at is inside a mall that has a lot of empty spaces. Would love to know > exactly what those kinds of numbers look like. > > >> On Friday, July 6, 2018 at 4:31:29 PM UTC-4, Jerome wrote: >> One key word that you can use that’s standard in the real estate world: >> - “rev share”. This is common for retail stores inside malls. The more >> you earn, the more rent you pay. >> Another is like the hotel industry, where a hotel brand/operator might… >> - have a minority ownership stake in the building, but this requires >> the hotel to invest some $. >> - win a bid to operate a hotel b/c the developer wanted a hotel from >> the start. >> >> So here’s the main difference b/w hotels and coworking: developers want a >> hotel from the start, so they need an operator. Office developers mostly >> don’t want coworking initially, but now are considering it, which is more of >> a fix for their vacancy or rental income after the fact rather than >> initially. >> >> Good luck! >> >> >> JEROME CHANG >> >> talk to us: (323) 330-9505 >> chat w/ us: http://www.BLANKSPACES.com/chat >> >> WEST: Santa Monica | 1450 2nd St (@Broadway) >> CENTRAL: Culver City | 9415 Culver Blvd (@Main St) >> EAST: Downtown LA | 529 S Broadway (@Pershing Sq) >> NORTH: Pasadena | 680 E. Colorado, Ste 180 (b/w Lake and Los Robles) >> SOUTH: Long Beach | 309 Pine Ave (@Broadway) - opening Summer 2018 >> >>> On Jul 6, 2018, at 10:25 AM, [email protected] wrote: >>> >>> Hi group! I've been following all of your great questions and advice for a >>> bit now. Thanks so much! >>> My business partner and I are still in the "planning and searching for a >>> space" phase. Still so much to learn! >>> Since we do not have a large amount of capital to put in this business we >>> are looking at all the options. >>> Has anyone entered into an agreement with a landlord where they are the >>> owner and you are the operator/manager? Is it traditionally known by >>> another term? We keep hearing about such arrangements but would love to >>> hear about a specific example and what kind of terms might be acceptable. >>> You can read about the reference to the concept here (the second option in >>> the article): >>> https://www.globalworkspace.org/2016/03/three-ways-to-run-a-coworking-space-without-signing-a-lease/ >>> >>> >>> -- >>> You received this message because you are subscribed to the Google Groups >>> "Coworking" group. >>> To unsubscribe from this group and stop receiving emails from it, send an >>> email to [email protected]. >>> For more options, visit https://groups.google.com/d/optout. > > -- > You received this message because you are subscribed to the Google Groups > "Coworking" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > For more options, visit https://groups.google.com/d/optout. -- You received this message because you are subscribed to the Google Groups "Coworking" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
