Lauren Hendricks helps clients buy, sell, and lease a wide range of commercial real estate in Seattle, including office buildings, retail storefronts, warehouses, industrial properties, and income producing investment assets. Whether you are expanding a business or building a portfolio, Lauren provides strategic guidance to match you with the right property.

Commercial real estate refers to properties used for business or income generating purposes. This includes office buildings, retail spaces, warehouses, industrial facilities, multifamily apartment buildings with five or more units, and mixed use developments. These properties generate value through rental income, appreciation, or both.

The four primary types are:

• Office: High-rise buildings, medical offices, coworking spaces

• Retail: Storefronts, malls, strip centers

• Industrial: Warehouses, distribution centers, manufacturing plants

• Multifamily: Apartment complexes (5+ units)

Common valuation methods include:

• Income Approach: Based on net operating income (NOI) and cap rate.

• Sales Comparison: Based on recent comparable sales.

• Cost Approach: Based on land + replacement cost of structure minus depreciation.

Commercial leases outline the terms between landlords and tenants, including rent, lease length, permitted use, and responsibility for expenses such as taxes, insurance, and maintenance. Common lease structures include gross leases, net leases, and modified gross leases, each offering different cost and risk allocations.

A triple net lease requires the tenant to pay property taxes, insurance, and maintenance costs in addition to base rent. NNN leases are common in Seattle commercial real estate and are often favored by investors for their predictable income and reduced landlord responsibilities.

CAM stands for Common Area Maintenance. These are additional fees tenants pay for the upkeep of shared spaces like lobbies, hallways, parking lots, landscaping, and security in commercial buildings.

Commercial leases often run 3 to 10 years, depending on the property type and tenant. Longer terms may offer stability for landlords and better negotiation leverage for tenants.

Buying commercial property in Seattle typically involves identifying suitable properties, conducting financial and zoning due diligence, securing financing, and negotiating purchase terms. Most buyers work closely with a commercial real estate broker, lender, and legal counsel to navigate the process efficiently.

First time commercial property buyers in Seattle should start with a clear understanding of the local market. Working with an experienced broker like Lauren Hendricks, reviewing comparable sales, and understanding lease structures and cap rates can help reduce risk and uncover strong investment opportunities.