Site to Do Business (STDB) is an online platform provided by the CCIM Institute that offers GIS-based data and tools to help commercial real estate professionals perform market analysis, site comparison, and demographic research, enhancing informed decision-making in real estate transactions.
Stabilized Value refers to the valuation of a property after it has achieved a consistent occupancy rate and stable operating expenses, reflecting its true income-generating potential under normal market conditions.
A stop clause in a lease stipulates the amount of operating expenses above which the tenant must bear the cost. Often, the base amount is the expense for the first full year of operation under the lease.
Strip Development or Strip Shopping Center refers to a form of commercial land use in which individual retail establishments have direct access to a major thoroughfare, commonly lacking an anchor tenant and utilizing intensive signage to attract customers.
A Super Regional Center Shopping Center is a large-scale shopping center that exceeds the size and variety of regional malls, often featuring multiple full-line department stores and abundant gross leasable area.
A tenant is an individual or organization that holds the right to use and occupy real estate property owned by another entity, typically under a lease agreement for a fixed or indefinite period.
Tenant Improvements (TIs), also known as leasehold improvements or build-outs, refer to changes made to the interior of a rented commercial property to customize it for the specific needs of the tenant.
Tenant Improvements, often abbreviated as TIs, refer to the customized alterations a building owner makes to rental space as part of a lease agreement to configure the space for the tenant's specific needs.
A Tenant Representative Broker represents tenants in seeking the best property to lease, negotiating favorable transaction terms, and assisting with related leasing processes.
A Triple-A (AAA) Tenant is a tenant with an excellent credit rating, typically characterized by a minimal likelihood of defaulting on lease obligations.
A triple-net lease (NNN) is a commercial lease agreement where the tenant agrees to pay all expenses of the property, aside from the rent. These include real estate taxes, building insurance, and property maintenance.
A Triple-Net Lease (NNN) is a commercial real estate lease agreement where the tenant is responsible for covering property taxes, insurance, and maintenance costs, in addition to the rent.
The underimprovement occurs when a property or development exists at a lower investment or utility level than the optimal usage potential of the site.
An UPREIT (Umbrella Partnership Real Estate Investment Trust) is a specialized form of REIT (Real Estate Investment Trust) created by combining properties from existing limited partnerships. Original partners exchange properties for an interest in a new, transitional operating partnership, which might later be converted to shares in the REIT.
A workout agreement entails a mutual effort by a property owner and lender to avoid foreclosure or bankruptcy following a default. It generally involves substantial reduction in the debt service burden during an economic depression.
