Seize the moment!—today’s weak office market presents a prime opportunity for tenants…
Category: Options, Rights, and Renewals
Tenant’s Lease Renewal Strategies
Lease renewals are one of the most profitable leasing transactions for landlords. As most tenants look to renew their lease to avoid the disruption associated with a relocation and as landlords perceive existing tenants as a “captive audience”, I’ve outlined below 10 steps for tenants to employ so as not to leave money on the table based upon my 20+ years representing office tenants in Chicago and throughout the country.
Structuring a tenant’s Right of First Offer to lease additional space
If you have a right of first offer (″ROFO″) on certain space, then…
Right of First Refusal…a tenant’s checklist.
A right of first refusal (″ROFR″) gives you the right to lease additional space on…
Negotiating Expansion Options for Maximum Flexibility
An expansion option is a tenant’s fixed right (but not obligation) to expand…
The Option to Extend: Leverage in a Soft Market, Protection in a Tight Market
When market conditions are soft and favor tenants, an extension option in…
Pre-Move-in Expansion and Contraction Rights
Anchor tenants and other large office users will start the lease planning process well…
Negotiating a contraction option? Here are some details to consider.
A contraction option is a fixed right in your lease to reduce the…
Your termination option, how good is it?
An office lease is a long term commitment, but the real estate…