News and Updates

NEWS AND UPDATES FOR COMMERCIAL TENANTS IN THE MARKET

How to Stay Within Your Tenant Improvement Budget

“A budget tells us what we can’t afford but it doesn’t keep us from buying it.” – William Feather Building out new office space can be somewhat akin to buying a new car. We have all walked into a car dealership with a firm budget in mind but then we make the mistake of test driving ...
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Who Should Fit Out the Tenant’s Space?

Tenants spend a lot of time trying to find the right location for their business. They visit numerous buildings; test fit the spaces for efficiency and suitability and go back and forth on negotiations with the landlord over the economic terms. However, the tenant often fails to realize that after the lease is signed, a lot ...
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When is a Market Comp Not a Comp?

A tenant came to us recently asking for help. They were involved in a transaction with another broker and were concerned about the objectivity of the advice they were getting. The tenant was looking for about 50,000sf of space and was considering a building that was a bit off the beaten track but in an ...
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Why Landlords Want to Pay Commissions

Every now and then, someone who hasn’t worked with us previously will ask: But, if my landlord doesn’t have to pay a broker, won’t he give me a better deal? Let’s just make believe for a moment that landlords don’t pay other entities (both in-house and third party) more when a tenant representative is not ...
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What To Do When You Get a Notice From Your Landlord

During the lease term, landlords will send seemingly benign notices to tenants, often through their property managers. Much like with the operating expense and tax reconciliation statements that we discussed previously, these notices require professional scrutiny. Just as many tenants don’t realize the hidden costs (in addition to the rent) associated with their leases, landlord ...
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The True Cost of Free

Something happens to us when we are offered something for free: our brains shut down. Free is irresistibly seductive. It is a source of irrational excitement. Witness people who grab coupons offering a free trinket that they have no need for. And people who return to the buffet line for more “free” food even though ...
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How to Find the Best Locations for Your Company Using a Proven Site Selection Process

The site selection process has become far more technical than in the past, and this creates new challenges for companies trying to navigate the globe. As a result, finding the optimal location has become extremely challenging for companies expanding their headquarters, manufacturing plants, shared service centers, call centers, distribution centers, data centers and retail sites ...
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Getting the Most Out of Your Tenant Improvement Dollars

Your lease has been signed, you have a Tenant Improvement Allowance from the landlord and the landlord is building out your new space. Nothing left to worry about right? Well, maybe there is. Before you turn over your construction project to your landlord, there are several things you should address in your lease to ensure ...
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