Re: Staying at 1861 Wish List

I would try for 3 months free rent and change the parking.
Thanks

On Thu, Feb 2, 2023 at 8:19 PM Wittenberg, Zachary @ Vancouver <
Zachary.Wittenberg@cbre.com> wrote:

> Ok. Are we going with the LOI as drafted with the change just to the
> parking or..?
>
>
>
> Zach Wittenberg | Vice President
>
> *Personal Real Estate Corporation *
>
> CBRE Limited | Real Estate Advisory & Transaction Services
>
> 1021 West Hastings Street, Suite 2500 | Vancouver, BC
> <https://www.google.com/maps/search/1021+West+Hastings+Street,+Suite+2500+%7C+Vancouver,+BC+V6E+0C3?entry=gmail&source=g>
> V6E 0C3
> <https://www.google.com/maps/search/1021+West+Hastings+Street,+Suite+2500+%7C+Vancouver,+BC+V6E+0C3?entry=gmail&source=g>
>
> T +1 604 662 5158 | C +1 778 990 9105
>
> Zach.wittenberg@cbre.com | http://www.cbre.ca/ZW
> <https://www.cbre.ca/en/people-and-offices/zachary-wittenberg>
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> *From:* Madonna Borger <madonna.borger@thekey.com>
> *Sent:* Thursday, February 2, 2023 2:11 PM
> *To:* Timothy Thomas <tt@thekey.com>
> *Cc:* Wittenberg, Zachary @ Vancouver <Zachary.Wittenberg@cbre.com>; Mary
> Bradley <mbradley@relo-strategies.com>; Fuller, Lauren @ San Diego <
> Lauren.Fuller@cbre.com>
> *Subject:* Re: Staying at 1861 Wish List
>
>
>
> *External*
>
>
>
> Yes i agree....let's see what he says
>
>
>
> On Thu, Feb 2, 2023 at 2:06 PM Timothy Thomas <tt@thekey.com> wrote:
>
> I'm ok with Zachs recommendation provided Madonna is as well.
>
>
>
> On Thu, Feb 2, 2023 at 4:44 PM Madonna Borger <madonna.borger@thekey.com>
> wrote:
>
> oh sorry forgot it was retail.
>
>
>
> On Thu, Feb 2, 2023 at 1:36 PM Wittenberg, Zachary @ Vancouver <
> Zachary.Wittenberg@cbre.com> wrote:
>
> Ok I can make the adjustment to the parking. We can make the push for an
> additional month and/or the LL may want to push the rent higher to
> accommodate the work involved similar to a TI allowance. Ie. Say the LL
> agrees to $6k for the flooring, he would expect approx. $170/mth rent
> increase over the term. We can try that route?
>
>
>
> In retail spaces, tenants are typically responsible for their own
> improvement work at their cost.
>
>
>
> Let me know.
>
>
>
> Zach Wittenberg | Vice President
>
> *Personal Real Estate Corporation *
>
> CBRE Limited | Real Estate Advisory & Transaction Services
>
> 1021 West Hastings Street, Suite 2500 | Vancouver, BC
> <https://www.google.com/maps/search/1021+West+Hastings+Street,+Suite+2500+%7C+Vancouver,+BC+V6E+0C3?entry=gmail&source=g>
> V6E 0C3
> <https://www.google.com/maps/search/1021+West+Hastings+Street,+Suite+2500+%7C+Vancouver,+BC+V6E+0C3?entry=gmail&source=g>
>
> T +1 604 662 5158 | C +1 778 990 9105
>
> Zach.wittenberg@cbre.com | http://www.cbre.ca/ZW
> <https://www.cbre.ca/en/people-and-offices/zachary-wittenberg>
>
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>
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> *From:* Timothy Thomas <tt@thekey.com>
> *Sent:* Thursday, February 2, 2023 12:26 PM
> *To:* Wittenberg, Zachary @ Vancouver <Zachary.Wittenberg@cbre.com>; Mary
> Bradley <mbradley@relo-strategies.com>
> *Cc:* Fuller, Lauren @ San Diego <Lauren.Fuller@cbre.com>; Madonna Borger
> <madonna.borger@thekey.com>
> *Subject:* Re: Staying at 1861 Wish List
>
>
>
> *External*
>
>
>
> Thanks Zach,
>
>
>
> The cost of those items will definitely exceed the 10k in abatement. @Mary
> Bradley <mbradley@relo-strategies.com> What are your thoughts? Can we
> push for a third month and or invest another few thousand to complete these
> changes?
>
>
>
> Side note, I reviewed with the team and we only need two parking spaces,
> not three.
>
>
>
> On Thu, Feb 2, 2023 at 1:35 PM Wittenberg, Zachary @ Vancouver <
> Zachary.Wittenberg@cbre.com> wrote:
>
> Hi Tim – I’ve attached a simplified non-binding LOI for your review &
> approval.
>
>
>
> When I spoke with the Landlord on the below items, he was aware we’ll be
> asking for some subsidy to do these improvements. Notably, floor
> replacement, washroom upgrade and adding baseboard heat to the backroom. As
> far as the handicap accessibility – he noted that the neighboring tenant is
> in the medical assistance business so they installed the retractable ramp
> at their own cost and maintain/operate it as such.
>
>
>
> Highlights:
>
>    - 3 yr term
>    - Slightly lower monthly rent @ $5800/mth
>    - 2 months of free rent (April & December 2023) – I don’t believe he
>    is prepared to go beyond given his level of interest in the space.
>
>
>
> Happy to walk through it or if approved I will present today.
>
>
>
> Zach Wittenberg | Vice President
>
> *Personal Real Estate Corporation *
>
> CBRE Limited | Real Estate Advisory & Transaction Services
>
> 1021 West Hastings Street, Suite 2500 | Vancouver, BC
> <https://www.google.com/maps/search/1021+West+Hastings+Street,+Suite+2500+%7C+Vancouver,+BC+V6E+0C3?entry=gmail&source=g>
> V6E 0C3
> <https://www.google.com/maps/search/1021+West+Hastings+Street,+Suite+2500+%7C+Vancouver,+BC+V6E+0C3?entry=gmail&source=g>
>
> T +1 604 662 5158 | C +1 778 990 9105
>
> Zach.wittenberg@cbre.com | http://www.cbre.ca/ZW
> <https://www.cbre.ca/en/people-and-offices/zachary-wittenberg>
>
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>
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> *From:* Timothy Thomas <tt@thekey.com>
> *Sent:* Wednesday, February 1, 2023 12:17 PM
> *To:* Wittenberg, Zachary @ Vancouver <Zachary.Wittenberg@cbre.com>
> *Cc:* Fuller, Lauren @ San Diego <Lauren.Fuller@cbre.com>; Madonna Borger
> <madonna.borger@thekey.com>
> *Subject:* Re: Staying at 1861 Wish List
>
>
>
> *External*
>
>
>
> See answers below
>
>
>
> ·  Mold in the back room and under the  office floor ( is this not a
> landlord expense?) and ensure there is heat available- replace flooring
> OK. Was there a previous leak that wasn’t remediated properly.- Water
> tank from the Salon blew about 8 years ( before my time) it was mopped up
> but never professionally dried thus the floor thus it is warping. We had
> one other minor one that also was cleaned up but not professionally dried
>
> ·  Washroom floor tile needs replacing OK
>
> ·  Heat in back boardroom needs to be fixed as its freezing all the time –
> Is this baseboard heat or ducted?- no heat at all we have always used a
> portable heater .
>
> ·  Front entrance is not handicap friendly – I’m told this is
> grandfathered. Nothing they can do about it due to the street slope.- next
> door has a ramp not sure what kind of expense that is ( it retracts etc)
>
>
>
>
>
> On Tue, Jan 31, 2023 at 8:50 PM Wittenberg, Zachary @ Vancouver <
> Zachary.Wittenberg@cbre.com> wrote:
>
> I spoke with the Landlord to try and pre-address the noted issues. He said
> he is going to the site tomorrow @ 12pm and will take a look. I have a
> couple comments below in red:
>
>    - Mold in the back room and under the  office floor ( is this not a
>    landlord expense?) and ensure there is heat available- replace flooring OK.
>    Was there a previous leak that wasn’t remediated properly.
>    - Washroom floor tile needs replacing OK
>    - Heat in back boardroom needs to be fixed as its freezing all the
>    time – Is this baseboard heat or ducted?
>    - Front entrance is not handicap friendly – I’m told this is
>    grandfathered. Nothing they can do about it due to the street slope.
>
> Likely we can get 1-3 addressed by a free rent and pushing the LL to
> perform the work.
>
> Zach Wittenberg | Vice President
>
> *Personal Real Estate Corporation *
>
> CBRE Limited | Real Estate Advisory & Transaction Services
>
> 1021 West Hastings Street, Suite 2500 | Vancouver, BC
> <https://www.google.com/maps/search/1021+West+Hastings+Street,+Suite+2500+%7C+Vancouver,+BC+V6E+0C3?entry=gmail&source=g>
> V6E 0C3
> <https://www.google.com/maps/search/1021+West+Hastings+Street,+Suite+2500+%7C+Vancouver,+BC+V6E+0C3?entry=gmail&source=g>
>
> T +1 604 662 5158 | C +1 778 990 9105
>
> Zach.wittenberg@cbre.com | http://www.cbre.ca/ZW
> <https://www.cbre.ca/en/people-and-offices/zachary-wittenberg>
>
>
>
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