Author: Stephen Hachey

Table of Contents How Does External Obsolescence Differ from Functional Obsolescence? Common Causes of External Obsolescence Economic Shifts Environmental Changes Government Policies Technological Disruptions Population Shifts Competing Developments The Impact of External Obsolescence on Property Value How Appraisers Account for External Obsolescence Can External Obsolescence Be Reversed? What Are the Early Warning Signs of External […]

What Are They? Arm’s length transactions in commercial real estate occur when two unrelated parties negotiate a deal independently and without external pressure. Each party operates in their best interest, ensuring fair market value for the property. These transactions are essential in maintaining transparency and integrity in high-value deals like office buildings, retail spaces, and

Latent defects are hidden issues in a property that are not immediately apparent during a standard inspection. Unlike patent defects, which are visible and can be noticed upfront, latent defects often go unnoticed until after a property is purchased or leased. These could include things like hidden mold, faulty plumbing behind walls, or structural issues

Commercial leases could be considered as the infrastructure backbone of many business operations. After all, it provides the space and security companies need to thrive. Among the various types of leases, the perpetual lease stands out as a unique arrangement. A perpetual lease, also known as a permanent or evergreen lease, offers an indefinite leasing