Waad Nadhir is a successful commercial real estate developer who has been working in the field for several years. He is currently serving as the President and Co-Founder of BOSC Realty Advisors, and he understands how to be successful in the industry. Here are three of the most important things to consider when developing commercial real estate.
First, consider risk and return. In order to make a profit from commercial real estate development and property, you need to figure out how you can use it in the most efficient way. You don’t want to put too much money into a project if you don’t think the return will be worth it. Make sure you consider all of the risks going into a project before you start developing.
Second, consider holding the properties you buy. Some properties that
you buy may not be worth developing at first, but can become more profitable as time goes on. This means you need to hold some of the properties you buy until they become profitable. BOSC Realty has owned both Brea Plaza in California, and Topinka’s Plaza in Michigan for twenty-five years.
Third, make continuous improvements on your properties. Commercial real estate development is all about make constant improvements to the properties in your portfolio. Consumer wants and needs change, and so do communities themselves. In order to keep up with these changes, you have to make improvements in order to remain profitable.
Waad Nadhir is dedicated to his career as a commercial real estate developer, and he continues to grow the success of BOSC Reality Advisors with every new project.
Waad Nadhir is an expert in property development living and working in Bloomfield Hills, Michigan. He is the President of BOSC Realty Advisors, which has consulting clients and developments throughout the United States. As a leader of the BOSC Group, Nadhir has acquired, financed, and managed several office and retail properties in the local community. Here are his three key factors for successful retail store development:
Location must have high foot traffic. Many retail businesses have moved online because getting consistent foot traffic to sustain a brick-and-mortar store can be difficult. Waad Nadhir says that finding a few areas in an urban area that could sustain many members of a business’s target audience is the first key to successful retail property development.
The overall size of the retail property must match the target audience in an area. Waad Nadhir says that in addition to location, the size of the property must be appropriate for the area. Communities with many large box stores will smother a small mom-and-pop shop, and a large retail space could be difficult to find community support for in areas that have many small boutique stores.
Correct Co-Tenancy. Sometimes foot traffic has as much to do with the neighbors’ stores as it does with your own. Stores that attract the same clientele or that attract many customers for any reason are good to have next to a new retail development.
Waad Nadhir has helped many retail development projects turn into thriving businesses.
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.