Author Archives: Don Wenig

Pre-lease IssuesSubleasing and Assignment

Subtenant’s Guide to a Great Deal

Looking for a great deal on office space?  A sublease may be the answer.  Subleases are often attractive to businesses as they offer a low cost, flexible, turnkey solution.  Start-up companies and established companies can find subleases to be a … Continue reading

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Forms of SecurityPre-lease Issues

Tenant Lease Security Strategies

As commercial real estate values are rooted in a dependable cash flow, landlords (and their lenders) are keenly interested in the creditworthiness of their tenants.  As most businesses are not in the Fortune 500, many will face the issue from … Continue reading

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Lease AuditOther Lease TermsPass-throughs

Limiting the Hidden Costs of Office Rent: Operating Expenses & Taxes

A major component (30% or more) of an office tenant’s rent bill is property taxes & operating expenses (“T&O”) which today is on the rise and where tenants have limited control under landlord-favorable leases.  In Chicago, T&O is rising significantly … Continue reading

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Other Lease TermsPre-lease Issues

Added Transparency Needed for Commercial Real Estate Brokerage

The quest for “transparency” is a major driver in our world today so that people can make the best decisions.  We saw it with banking reforms after the recession as well as with all the new disruptive technologies.  In commercial … Continue reading

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Building Services

Office Building Amenities Arms Race

We’ve all heard of the rich perks leading tech companies offer their employees – from gourmet food to full-service gyms.  Borrowing a page from these companies, office landlords are offering many of those perks to their tenants as added amenities … Continue reading

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DamageEnd of Lease TermRepair and Maintenance

How Tenants Can Limit Lease Surrender Liability

Looking forward to a new chapter in your business, you just moved into your new office space.  Your old office building is, however, haunting you after receiving an invoice from your prior landlord for restoration obligations.  Most office leases contain … Continue reading

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Other Lease TermsParking

Bridging the Last Mile – innovative public-private partnership

The trend of companies moving to urban areas in search of younger talent has challenged some suburban based companies, landlords and suburban governments in the Chicago area and across the country.  Earlier this year, I posted a blog examining the … Continue reading

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Other Lease TermsSuperior Interests

The TICking Bomb of Building Ownership

Occasionally, we hear of a tragedy where a bomb explodes in a former war zone.  Likewise, in commercial real estate where most markets have recovered from the recession, there is a time bomb of building ownership that can be disastrous … Continue reading

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Corporate Office Urban Migration – Chicago & Nationally

On the heels of the great recession in December 2010, I wrote about whether the trend of office tenants moving to urban areas is a secular shift or an aberration (“Downtowns Drawing Tenants Over Suburbs: Secular Shift or Aberration?“), concluding … Continue reading

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Pre-lease Issues

Office Building Tour Checklist

While your ultimate decision on leasing office space will be based upon how it supports your business goals, the building tour is an initial litmus test.  A thoughtful inspection of a building and space may identify potential issues that you … Continue reading

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