Author Archives: Don Wenig

Lease AuditPre-lease IssuesRent

Tenants: Are You Ready for the New Lease Accounting Standard?

2019 is a big year in lease accounting.  In 2019 (which began December 15, 2018 for fiscal year reporters), publicly traded companies are required to comply with the new accounting standard (ASC 842) and are required to recognize leases greater … Continue reading

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Tenant Build-out

Is the Open Office Plan Dead?

Last year a Harvard Business School associate professor (Ethan Bernstein) led the first empirical study measuring both face-to-face and electronic interaction before and after two Fortune 500 companies moved to an open barrier-free workspace.  Contrary to conventional wisdom, the study … Continue reading

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Other Lease TermsSubleasing and Assignment

Is Co-Working the Right Choice for Your Business? Office Space Alternatives for Tenants Today

Co-Working companies have been big consumers of office space over the past few years.  For example, WeWork is now the largest occupier of office space in NYC leasing 5.3 million square feet. Investors are pouring billions of dollars into these … Continue reading

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Building ServicesOther Lease TermsPre-lease Issues

Can You Hear Me Now? What Tenants Must Know About Office Building Cell Service

We’ve all struggled with poor cell phone service in large buildings, frequently with our face pressed to the window trying to catch a bar.  The service issue typically isn’t with the carrier, but with the obstructions within a building or … Continue reading

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Pre-lease IssuesTenant Build-out

Tenant’s Guide to Minimizing Office Construction Costs

As the economy continues to expand (along with office tenants), office construction costs continue to climb.  That’s due in large part to the strong economy as well as a shortage in construction labor and certain materials. In this post, I … Continue reading

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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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