The Relocation Clause
The relocation clause is often hidden in office leases. Here’s how to protect you and your business. Often found hidden in an office lease, after a term sheet has been agreed to, and rarely disclosed in commercial real estate listings, the relocation clause allows the landlord the right to relocate the tenant if they wish. […]
Office Leasing: Loss Factor
Different commercial space for rent has different loss factors, depending on various characteristics of the office space you are considering. Have you ever walked into an office when looking for commercial space and said this doesn’t feel like x (insert number) of square feet!? You think about an apartment or a house, and you think […]
Office Leasing: The Good Guy Guarantee
In office leasing, the good guy clause is often misunderstood. Here’s what you need to know when looking for office space. First, it’s important to understand why the good guy clause was created. The Good Guy Guarantee provides an added layer of protection for commercial property owners since they can rely on it to prevent […]
Office Leasing: What Is a Remaining Lease Obligation?
Every company should do a Remaining Lease Obligation to best understand their real estate exposure. This is a key step in the office leasing process. You’d be surprised to learn that you are paying more for your office space than you think! And there’s a simple way to find out what you are paying. It’s […]
Office Leasing: Blend and Extend
Today we will talk about a strategy used by companies that are thinking about ways to alter their real estate obligations based upon a change in the market or a change in their own business. To start with the term “blend and extend” refers to an extension of an existing lease for your office space, […]
What Does it Cost to Move?
This is a question that comes up a lot during the office leasing process. We’re not talking about your square foot amount, or we’re not talking about your base rent. We’re just talking about the moving costs itself for office space and all those ancillary items so that you really have a full picture of […]
Office Leasing: It’s a Tenant’s Market
The big question I get now is “Gregg, why do you say it’s a tenant’s market for office space? What’s happening in the market that gives you that indication?” We’ve seen office space vacancy rates in New York City creep up close to 20% in the office market. And we’ve seen landlords be more flexible […]
Office Leasing: The Impact from The Supply Chain Headlines
I wanted to talk this week about the supply chain constraints and its impact to you as an occupier and a tenant in the market who may be looking at office space. There are really two things going on. One is with regards to pricing and the other one is with regards to timing. From […]
Same Space. More Square Footage
Okay, so there is this thing that happens in commercial real estate in New York City that will blow your mind. When I learned about this, it took me a while to get it. It is called re-measuring. In its simplest form, you can sign a lease for 10,000 square feet, and in some time […]
Talking Security
It is so crucial right now to talk about security deposits, with post-pandemic repercussions, and landlords who are still sensitive about this topic after many tenants have left their offices last year. It is top of mind for everyone right now. Landlords are wondering if they have enough in security, and tenants are wondering how […]