Exis is excited to announce the addition of three new partners to add to our growing world presence: Benchmark Commercial (Denver), Landmark Advisory Services (Montréal and Calgary), and The Tenant Agency (Washington, D.C. – who replaced former partner The Ezra Company).
Category: commercial real estate
In order to compare a deal to the market, one must have access to quality data. Maintaining a database of relevant transaction comps is critical. Comps need to include details on all variables which drive landlord returns; this includes average net rental rates over the term of the lease, as well as landlord concessions such as tenant improvement allowances, free rent, and commissions.
Every tenant is in a different situation, so there are no hard and fast rules. However, your representation team (both your broker and your real estate lawyer) needs to be strategic in language negotiated to clearly define the landlord right, various mechanics of exercising the right, and the limitations of the right to protect your business.
Landlords need relocation rights to maximize revenues for the building or project. This scenario occurs frequently in a newly completed building or one that is under construction and pre-leasing space. Having the ability to move a smaller tenant to another area on the same floor or to another floor in order to accommodate a larger tenant is ideal for landlords in securing tenants that may need a full floor or prefer a certain area of the building.
Our Spain partner, The Tenant Solution (TTS) describes and analyzes, from a general point of view, the determining factors that explain why Spain is becoming an optimal option for large multinational corporations when establishing their headquarters and developing their businesses in European territory.