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Real Estate Financial Modeling Accelerator (Updated May 2025)

Before launching the Accelerator program, Michael and I received countless emails requesting a more structured, step-by-step real estate financial modeling training program. Over the years, we've covered hundreds of real estate modeling…
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Retail Lease Agreement for Commercial Real Estate

Does owning a retail shopping center seem like a good investment? Higher cap rates, multiple tenants who have survived e-commerce and COVID? One of the critical elements of a well-run retail center is having a clear understanding of retail NNN…
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Tenant Estoppel Letter for Commercial Real Estate Purchase

A Tenant Estoppel Certificate (or Tenant Estoppel Letter) confirms the existence and status of a commercial lease. This is a unique legal document which contractually binds the tenants of a building with the new purchaser (and often lender)…
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Commercial Real Estate Lease Analysis Tool (Updated Jul 2023)

The topic of analyzing commercial real estate leases from the perspective of the landlord and/or tenant has come up several times over the years. And while I generally respond to requests for new models or tools at A.CRE, I've been hesitant…
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Retail Anchor Tenant Lease Agreement

From a landlord’s perspective, the retail anchor tenant lease (the primary tenant/largest tenant in a shopping center) is the catalyst for a successful or unsuccessful shopping center.  With a great anchor, the surrounding spaces are more…
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Commercial Real Estate Lease Abstract (Summary)

Today I will be sharing a template for a common legal tool for quickly and efficiently evaluating commercial leases: the Commercial Lease Abstract / Summary. This template applies to triple net office, triple net retail leases, and any type…
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Letter of Intent for Office Leasing

Today we’re going to be diving into what is typically the very first legal document presented to a Landlord who is renting commercial office space: the letter of intent for leasing. At the end of this post, find a link to download a template…