Tenant Advisory
Unlocking the Mystery Between Usable vs. Rentable Square Feet
Usable vs. Rentable Square Footage: Understanding What You Pay For in 2024 Finding the perfect office space goes beyond location and price. Understanding the difference between usable and rentable square footage is crucial to optimizing your lease agreement and budget. Usable vs. Rentable: What’s the Difference? The Load Factor: Calculating Your True Footprint The discrepancy…
Read MoreDon’t Call the Guy on the Sign: Why Tenant Representation Brokers Remain Crucial
Never call the “guy” on the sign. That guy (or gal) is the landlord’s broker whose fiduciary responsibility is solely to the landlord. No matter how nice the landlord’s broker is, they are not your friend, and they do not have your best interests in mind. Tenants will have reduced rights, pay more occupancy dollars,…
Read MoreThe Open Office Rethink: Designing Workspaces for a Hybrid World
The right office environment plays a crucial role in maximizing productivity, minimizing employee turnover, and fostering a positive work culture. But with the rise of remote work and hybrid models, the traditional one-size-fits-all approach to office design for commercial real estate is becoming a relic of the past. Open office plans, once touted as the…
Read MoreAre you taking advantage of the market?? Don’t miss it.
Forward thinking occupiers of office space are looking to take advantage of the reduced pricing and heighten concessions that currently exist in the market. The increased vacancy over the last 18 months is the silver lining for Tenants. With the continued upswing in the economy, dynamic housing market, outstanding performance of the stock market, and…
Read MoreOperating Expense Pass Throughs – That Time Of Year Again!
It’s the time of the year again when Tenants receive their Reconciliation for the past year and Estimate Statements for the current year for the operational costs for their office building from their Landlords. Office leases are generally structured as a Full-Service Gross (FSG) lease or a Modified Gross lease (MG) that allow for Landlords to “pass-through” the increase in costs…
Read MoreWant to Avoid Paying 300% More in Office Rent? Understanding a Holdover Penalty in Your Lease
The Holdover clause addresses what occurs if a Tenant remains in the premises after the expiration date of a lease. The Holdover provision provides, that if a Tenant remains in the premise after a lease expires, even with the Landlord’s consent, the rental cost may be increased by upwards to 300%! Why? Rent provides an income stream to the Landlord,…
Read MoreOffice Rents are Down 15% Since March. Take Advantage of Pandemic Pricing with Your Office Lease!
Do you have less than 2 years on your office lease? If so, you should take advantage of COVID pricing and incentives provided by landlords. These unprecedented times have given tenants important financial advantages. Here are five key points you need to know about COVID pricing for tenants. With some help, as a tenant during…
Read MoreIs COVID Increasing Your Operating Expenses? Discover 4 Actions You Can Take to Protect Your Interests
With increasing measures to contain and mitigate the COVID-19 outbreak, Tenants are taking a hit regarding operating expenses. Has your Landlord posted COVID Notices throughout your building? Are there sanitizer stations at all entry and access points to your building? Is the Landlord enhancing the cleaning of the restrooms? Are all touch points of the…
Read MoreTHE OFFICE SPACE MARKET AND COVID-19
LEASE RESTRUCTURING AND EXTENSION The talk about Landlords abating rent, discounting rent, deferring rent, rent forgiveness and Tenants not paying rent is not as simple as the media presents. Landlords are requiring detailed financial data, information if the CARES Act and other available resources have been exhausted, tax returns and a narrative of why and…
Read MoreTenant Improvement Work and Shell Condition
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…
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