Brian Hennessey - The How To Add Value Handbook For Commercial Real Estate

Reader Comments

Brian Hennesseys books are invaluable staples, for both beginner and veteran alike. In his newest book, Brian again draws on his impressive experience to identify foundational best practices, developed from years in the trenches, and presented in a clear and concise format, creating another must-read, handbook that is, at the same time, both simple and smart.

Robert McBride, Commercial Real Estate Broker

This book has a wealth of information that is beneficial for all real estate professionals and owners. We are in the property management business and more and more owners today expect us to operate as asset managers with an eye for creating value for their respective properties. Many of the key elements to creating value through marketing, leasing, tenant mix and the right personnel for each property are included in the book. This is a must read and on-going resource for all who want to make money in the real estate business.

Jock Ebner, President, Morlin Asset Management, LP

As a value-add player since the 1970s, I always look for ways to find opportunities in real estate. Whenever lucky enough to find something interesting, then the fun starts. Brian Hennesseys writing can help with that part, both for the seasoned veteran and the novice rookie. He goes into every area I could think of, and even some I have never thought of. A must-read for anyone wanting to make money as a principal real estate player.

Maury Fagan, Real Estate Investor

Ive been a commercial real estate broker over three decades. After reading The How to Add Value Handbook For Commercial Real Estate, I believe it is as valuable as Brian Hennesseys book The Due Diligence Handbook For Commercial Real Estate ; which I am still referring to so I can be certain that I am not missing anything while conducting due diligence. They contain so much valuable information, it is practically a FOUND TREASURE for anyone involved in commercial real estate, whether a seasoned realtor/broker or an investor/commercial property owner.

Krich Adary, Director, Archetype Commercial Realty

The How To Add Value Handbook For Commercial Real Estate offers an in-the-trenches view of creating value in the real estate market. Its grounded, real world examples underscore the importance of thinking through design and leasing decisions with the end in mind.

William King, AIA Architecture-Planning-Design

Contents

Introduction

I ve been in the commercial real estate industry for over 30 years. And, during that time, Ive seen the same mistakes being committed over and over again by people who invest their hard-earned money in commercial properties. Many of them fail to learn the fundamentals or certain critical and essential principles of leasing real estate investments.

My objective in writing this handbook about creating value for commercial real estate is to help those owners and commercial real estate professionals discover the successful strategies Ive encountered, learned, and practiced over my career. These are proven tactics, strategies, and tips that work in the real world of investment properties. I wish I had this knowledge when I was starting out. It would have saved me from much frustration and a lot of trial and error learning.

I approached this book with the idea of giving investors who are new to the business of leasing or owning commercial real estate an overview, as well as a reference tool and foundation to build upon, so they could use it to refer to again and again. In it, you will learn how to avoid simple mistakes with costly consequences. Youll also learn many essential tips and proven strategies Ive learned and gleaned from other experts in their respective niches over the years to successfully get more leases finalized.

For the more seasoned commercial real estate investors and professionals, my hope is to give them some of the insights that I have witnessed and experienced from being a commercial real estate broker doing tenant representation where I learned how many of the larger corporate tenants view their leasing objectives. Also, I will share valuable experience from my time as a landlord representative where I leased properties as a local leasing broker. I also spent time as a Vice President of Leasing for an investor who owned about 12 million square feet across the U.S, where I had to learn local practices and customs, as well as the ins and outs of the various markets such as Los Angeles, Dallas, Houston, Chicago, Orlando and Phoenix. Experiences learned during this phase of my life have also contributed to the contents of this book.

In addition, as an owner/landlord/general partner I asset managed 350,000square feet of office buildings in Houston during 2007 through 2010, in the worst real estate recession any of us have ever experienced. During this time, I managed to keep them over 82% occupied and added an additional $700,000 in net operating income.

What this rounded experience taught me from working in the various markets is that, in general, the fundamentals remain the same, even though some of the nuances may vary from market to market. The idea is always to get the properties leased as soon as possible, at the best rental rates achievable, with the least amount of expense.