Waad Nadhir has helped companies respond to the rising demand for senior housing of all kinds across the United States. As the President of BOSC Realty Advisors, Nadhir has consulted with many developers in several different regions of the US. One of his most recent clients is Steadfast Companies, an organization with many property holdings throughout the Western United States. Nadhir has been helping Steadfast develop senior housing projects in Southern California that have to serve the community in specific ways. Nadhir has watched the rising demand for higher quality senior housing in recent years with great interest.
One obvious cause for the rise in demand for quality senior housing is that people are living longer, which means that they need places to live for longer. Waad Nadhir has seen new senior housing developments rise in his own community in Bloomfield Hills, Michigan in recent years for this reason. Because people of all income levels and backgrounds are aging, Waad Nadhir knows that senior facilities of all kinds are in demand everywhere. He has learned what different communities need in senior housing, whether it is less expensive rents, higher-end luxury facilities, or more medical services needed in facilities. New senior living developments are going up for people of all income levels and for all services needed.
Waad Nadhir has helped his community by developing properties in the Bloomfield Hills area and Southern California for many purposes over the years and he hopes that he can spread his expertise and skill to other communities as well.
Waad Nadhir is a property developer based in Bloomfield Hills, Michigan. He has worked with many partners in the area to acquire, finance, and manage several properties in his community, including several retail properties. Nadhir has had success for many years as a developer, businessman, and consultant. He is now the President of BOSC Realty Advisors, based in Bloomfield. Here are three things he has had to get to know about retail leasing over the years:
- Location. Let’s start with an obvious factor when buying, selling, or leasing property of any kind. For retail businesses, it’s all about foot traffic and what the neighbors are buying. If your store is out of place in a certain part of town, you won’t do as well as if you’re near similar stores. If you’re developing a retail space, as Waad Nadhir helps clients do, you have to consider what kinds of stores would do well in the new space.
- LOIs. Letters of Intent (LOI) are the beginning of the negotiatio process. Both sides, developers and lessees, can negotiate the terms of the rental agreement, which at this stage is not yet set. The LOI is simply the terms of the proposed deal and the identification of the lessee and the landlord.
- Types of leases. As Waad Nadhir knows, there are many different types of leases that could apply in a retail property agreement. The most common is the triple net lease, which means that the tenant pays a base lease amount, additional rent of the retail space, including insurance, taxes and takes care of maintenance issues.
Waad Nadhir has worked with many property owners and developers during his long career.
Waad Nadhir made his career in real estate development and business leadership. After working as a broker for Merrill Lynch out of college, Nadhir eventually found himself in the real estate development industry. He is the President of BOSC Realty Advisors in Bloomfield Hills, Michigan and works to acquire and finance profitable real estate development projects in his community and beyond. Here are three factors that affect every commercial real estate development strategy:
- Risk and return. In order to make a profit from your property holdings, you have to find a good way to use it. Unless you take a chance one way or another, either by developing the land or selling it, you’ll get stuck paying taxes on the land with no way to make a profit.
- Buying and holding. While Waad Nadhir knows that you have to take a chance to make a profit off of property, you can also hold onto it for a while if you think that the area will support the project for many years. BOSC Realty has owned both Brea Plaza in Brea, CA and Topinka’s Plaza in Detroit for 25 years.
- Continuous Improvements. Commercial properties require constant reinvestment to meet the needs of the community and tenants. BOSC has redeveloped Brea Plaza twice since it was acquired in 1992 and redeveloped Topinka’s Plaza three times since it was built in 1991.
Waad Nadhir knows all of the ins and outs of the property development industry in his community in Bloomfield Hills. He also helps companies with properties in other markets develop quickly and smartly as a consultant.