In October and November, over 60 Exis partner firm representatives gathered for Exis’s annual regional events: the North American Summit, held in Costa Mesa, CA in conjunction with the CoreNet Global North American Summit, and the European Summit, held in Amsterdam, Netherlands.
Category: tenant representation
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.
Companies who are looking for space in southern California now have a “Tenant Guardian” to ensure they are protected and valued during increasingly complex real estate transactions; Exis Global, Inc., is excited to welcome Tenant Guardian to our growing platform of best-in-class tenant representation firms.