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Hello All.
Question on suggested retail rent increase. The applicant is asking for a 3 year lease with a 3 year option on a 1000 sqft retail strip mall corner with parking, bathroom. Going rate is about $1.8-$2/sq ft.
6 units total
Does anyone have a suggestion on a rent increase in So Cal Pasadena area for such a lease?
Modified Gross (they pay for elect and their own liability Ins), landlord pays for partial common elect, water and Prop Ins and Prop Tax.
Thanks
Question on suggested retail rent increase. The applicant is asking for a 3 year lease with a 3 year option on a 1000 sqft retail strip mall corner with parking, bathroom. Going rate is about $1.8-$2/sq ft.
6 units total
Does anyone have a suggestion on a rent increase in So Cal Pasadena area for such a lease?
Modified Gross (they pay for elect and their own liability Ins), landlord pays for partial common elect, water and Prop Ins and Prop Tax.
Thanks