Ask a corporate real estate person what is the most confusing and contentious aspect of an office lease, and the answer will almost always be the operating expenses section. All commercial leases contain at least a few paragraphs of language on how the operating expenses are handled. Many tenants enter …
Given that a nonprofit organization’s facility costs are typically the second highest cost on its balance sheet (after staff), securing a good lease on the best office space should be a high priority. Unfortunately, we’ve found that real estate costs and commitments are often not addressed in the best way. …
Most business owners and managers are experts in the fields they’ve chosen — not in commercial real estate. When it’s time to find new office space, it’s normal to not know what to look for. To get you started, here are seven questions office building tenants should ask prior to …
Read more7 questions you should ask before leasing office space
“I am going to represent you.” Lately I have wondered what a client seeking office or industrial space thinks when we say that. “Represent” can mean different things to different people; inevitably a client’s expectation is colored by his or her past experiences. Has the person been represented in a …
Here’s an important question you may not have thought to ask: How is my commercial real estate agent getting paid? It applies to agents representing both the landlord and, in our case, the tenant. I have been in this profession for over 40 years and rarely have I heard a …
At Tenant Realty Advisors we work with many local companies that occupy office, industrial and retail spaces. We also work with sophisticated national corporate occupiers. These corporations tend to have an advantage over smaller companies when it comes to real estate: With their full-time, in-house real estate teams, they bring …
Imagine sitting down to negotiate a lease for office space in a new building. Beside you is the real estate agent representing your company. Across the table is the building’ s landlord, accompanied by his or her real estate agent. The catch? The two agents are colleagues — they work …
Read moreThe full-service conflict: Trying to be all things to all people
A commercial lease negotiation involves both business terms and legal terms. A savvy tenant will have both a tenant representative and an attorney negotiating these terms on their behalf. After numerous back and forths, the various items up for negotiation usually end up in some type of compromise that reasonably …
Change is hard but, as Bob Dylan lamented, it is inevitable. Such is the case with tenant improvement allowances. Free rent, low rates, flexible terms and generous tenant improvement allowances have all been on the table since 2009. But as the market heats up and vacancy rates fall, tenants are …
2016 has kicked off with a bang here in Boise with a variety of larger deals/moves. While most of the absorption consists of existing local tenants expanding and taking more space as opposed to new tenants moving into the area, the net effect has been a decrease in vacancy and …