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Tenant Advisory

05 Jun

Posted at 21:52h in Tenant Advisory

Small cardboard house, keys and dollars on wooden table

The Landlord has provided a Tenant Improvement Allowance for your new office space.
What is the condition of the premises when the Landlord delivers the new office space? Is electrical and Heating, Air Condition and Venting (HVAC) been brought to the premises? Is there a finished ceiling? When are the TI dollars the Landlord has provided to a Tenant applicable to improving the premises?

Understanding the condition in which the premises are delivered to a Tenant is essential to avoid conflict and costs in the future.

If you’re renting a space that has been previously occupied (known as a second-generation space), you can reasonably expect that is in “finished” condition, meaning it has finished floors, painted walls, plumbing and electric, etc. If you are renting a new space or previously occupied space that has been demolished, a clear understanding and documentation of the “shell condition” is required. (more…)

06 May

Posted at 09:00h in Tenant Advisory

Energy saving light bulb with stacks of coins and calculator for financial, accounting and saving concept.

Before you sign a commercial property lease, it’s important to understand what type of lease you’re signing, where your money will be going each month, and what’s included or not included in your rental rate.

Depending on the type of lease, the rental number you see may or may not include Operating Expense Pass Throughs (OPEX) and Common Area Maintenance (CAM) expenses. Calculating, estimating, and itemizing these two terms gives even the most veteran real estate brokers and advisors a headache. (more…)

01 Apr

Posted at 09:00h in Tenant Advisory
Working Desks

 

The right office space and layout for your business are key to maximizing productivity and minimizing employee turnover and stress. But what type of office plan is best?

When Google converted their headquarters to an open office plan in 2005, they started a trend that’s still alive and growing today. If Google has an open office plan, then clearly, it’s a successful strategy, right? Not to mention, open office plans can save businesses a lot of money by reducing square footage needs. (more…)

04 Mar

Posted at 09:00h in Tenant Advisory

grass growing in shape of a city

With all the materials we’re learning to recycle and reuse, why not buildings? Adaptive reuse has become a more and more popular way to preserve cultural memories while still enabling technological and business advancement. The accelerated growth of large tech and social media companies has increased the demand for large and “Creative Office Spaces”, which are large blocks of space with open areas where office communities may collaborate. (more…)

04 Feb

Posted at 09:00h in Tenant Advisory

To start the new year with a bang, The San Fernando Valley Bar Association (SFVBA) relocated its main office to Woodland Hills after six years in Tarzana.

The new headquarters is conveniently located on the first floor of the Carlton Plaza building on Ventura Boulevard. It features a beautiful open landscape environment, exposed ceilings, an open kitchen area, and access to a courtyard for outdoor education and social events. Among many other perks, the new space accommodates parking for members and visitors, allows usage of the space after-hours, and provides the SFVBA the opportunity to remain beyond the initial lease term — all for a very competitive rent!

So just how were they able to pull this move off? Rest assured, there was a lot heavier lifting being done under the surface. A perfect office space that meets all of your needs for the perfect price won’t just fall in your lap. But that’s where we can help you. Here are just a few of the things you may not have realized you can negotiate in a commercial lease:

Hold Over

A lease will often have language built in about what is to occur at the end of a lease. Usually, that language includes a time limit that can be enforced by the landlord of when you need to leave—or much worse—pay extra fees that can amount to as much as 300% of your normal rental rate. This language may be found in the Hold Over clause of a lease. In case you do need to relocate again, this clause is crucial to discuss prior to signing a lease.

Option to Renew a Lease

A clause that can also be included may give the tenant the ability to renew their lease. This clause is called an Option To Renew. Without an option to Renew, you can be forced out at the end of your lease, which could have detrimental effects on your business. Options are typically at Fair Market Value. Because we know what Fair Market Value is, we can help you negotiate a renewal price that is fair for you and the landlord.

Use of Amenities and Resources

Although your landlord may wish to charge you extra if you go over budget on heating, ventilation, and air conditioning costs, this is actually something that can be negotiated into your lease, and definitely something worth talking about. You may also be able to work in a deal to use certain spaces that may not have been available to you, or even to use a space during off-hours or for social functions.

Parking Allowances

What if you’ve found the perfect office, but you know there won’t be enough parking for your employees or guests based on what’s offered in the lease? You can negotiate this! Parking is a necessity for a business, and you shouldn’t shy away from trying to strike up a deal.

Pass Through Expenses

The expenses that a landlord pays for the property such as taxes and insurance costs are often passed through directly to the tenant. While it is reasonable for a tenant to pay some share of the costs to run the building they are renting, this can be especially worrisome in a Base Year lease. These cost can and should be negotiated with the landlord to ensure fairness to both parties. Your business has its own costs to run, and you don’t want to add more to your expenses than necessary.

Every day of the year, Mazirow Commercial negotiates leases to protect and save tenants rent dollars on many lease terms. The landlord is fully informed about the terms of the market place, are you? Don’t go to the table alone, contact us today. We are the tenant advocate for the Greater Los Angeles Area, San Fernando Valley, Conejo Valley, Ventura County, Santa Monica, Glendale, and more.

07 Jan

Posted at 09:00h in Tenant Advisory

Two businesspersons walking together

No one should ever rent office space or commercial real estate without the help of a tenant advocate. But how do you know how to choose the right one? We list the Top 5 reasons businesses owners choose us for the job:

1. New businesses need an office space mentor

Starting a business is hard enough to do without worrying about finding office space and lease negotiations. Navigating lease negotiations alone can end in disastrous results.

“When we decided to open our own law firm in 2011, my first call was to Mazirow Commercial. Mazirow Commercial provided critical information regarding physical office and lease agreement issues that never would have occurred to us,” said Karen Gabler of Light Gabler.

2. Mazirow Commercial has the right experience

Mazirow Commercial is the tenant advocate in the Greater Los Angeles area. We know how to find clients the right space, and at the right price. With more than 30 years of tenant representation and lease review experience, we know how to provide protection for tenants and save them money on lease terms.

3. Good tenant advisors won’t let you settle

As experts in commercial real estate, Mazirow Commercial is respected in the industry and negotiates office space rentals with finesse and determination. Mazirow Commercial helped Dena R. Taub, a partner at Taub and Taub PC, secure her dream office space that has a view of the San Fernando Valley.

“I was lucky enough to secure this office and the spacious suite it sits within due to the tenacity of Sheryl Mazirow,” she says. “She knows the market, she knows the players, and most importantly, she knows the local landlords.”

4. Businesses love to find hidden savings

Most of Mazirow Commercial’s clients become long-term customers, whether it’s for a real estate purchase or commercial space rental negotiation. Much of our repeat business has to do with the fact that our tenant advisors know the ins and outs of a commercial lease and how to comb through the fine print, securing you extra savings.

Renata Stone, the CEO of Dougherty Laser Vision, appreciated the five-star customer service she experienced when Mazirow represented her company. “Sheryl went through my lease, found several key aspects that could have been negotiated more effectively, and gave me an outstanding analysis of my lease … Negotiating on my own would have yielded a higher risk lease with much less favorable terms.”

5. We get to know YOUR business, too

There are others who do what we do, but our clients appreciate our superior customer service. We understand that no two businesses have the same style, so we take the time to understand exactly what you need.

These are just five reasons why our clients choose us, but there are many more. Throughout her 30 years in the tenant advisory business, Sheryl Mazirow has been recognized as a leader in the field. She has been named one of The 200 Most Influential Leaders in the San Fernando Valley, Business Owner of the Year, and one of The Best Business Women of the Decade. With the addition of Jeff Baum and Winton Berci to the team in 2006 and 2016 respectively, Mazirow Commercial is an invaluable resource for tenants and buyers in the Los Angeles area.

Want to feel assurance about your office space or commercial real estate lease negotiations? Every day of the year, Mazirow Commercial negotiates leases to protect and save tenants rent dollars on many lease terms. Don’t go to the table alone, contact us today. We are the tenant advocate for the Greater Los Angeles Area, San Fernando Valley, Conejo Valley, Ventura County, Santa Monica, Glendale, and more.

10 Dec

Posted at 09:00h in Tenant Advisory

Sale agent giving Key house

Prior to the transfer of ownership of an office building, tenants will be presented with an Estoppel Agreement for signature by their landlord. There is often a limited time frame to return the signed Estoppel Agreement and pressure to do so from the landlord. However, tenants will be wise to study the Estoppel Agreement in detail, confirming its accuracy instead of blindly signing the paperwork submitted.

What is a Tenant Estoppel certificate and why is it so important? (more…)

05 Nov

Posted at 09:00h in Tenant Advisory

Businessman working on phone

Mazirow Commercial is proud to announce the launch of our new website to showcase our tenant representation and advisory real estate services. Serving areas throughout Los Angeles and Southern California, we wanted to create a greater experience for our clients when they visit our website. Get ready to view our new real estate; Mazirow Commercial takes you on a tour of our site! (more…)