Category Archives: Pre-lease Issues

Pre-lease Issues

The WELL Building Standard® for Your Well Being

How does your office space affect your health?  If you think about it, most office spaces and buildings are designed to minimize the physical activity of its occupants.  While many office spaces today are certified as meeting the sustainability standards … Continue reading

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Pre-lease Issues

Loft Tenant’s Leasing Checklist

Many creative and technology companies gravitate to loft office buildings due to their unique character as they are typically renovated warehouse buildings (either concrete or timber construction).   In addition to the usual office building due diligence, below is a checklist that … Continue reading

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Pre-lease Issues

Tenants’ Top 10 Office Leasing Mistakes

As real estate is typically one of the top costs for companies, here is a list of the top 10 mistakes tenants make in leasing office space.  The real estate decision, however, goes beyond cost.  It also impacts the bottom … Continue reading

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Pre-lease Issues

Not Your Father’s Office – Office Space Trends

In the late 1960’s, Herman Miller, an American manufacturer of office furniture and equipment, spawned the idea of office cubicles.  The cubicle’s popularity was sustained until about 10 years ago, when companies began to notice that the way in which … Continue reading

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Building ServicesDamageElectricity

How Tenants Can Prepare for the Unthinkable

Hurricane Sandy devastates the northeast.  As recently reported on Bloomberg (http://www.bloomberg.com/news/2012-11-09/lower-manhattan-quiet-as-sandy-shuts-one-third-of-offices.html) 33% of the 101 million square feet of lower Manhattan’s office space was inoperable as of November 7th, several days after Sandy’s landfall.  Likewise, immediately after 9-11, areas of … Continue reading

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Pre-lease IssuesTenant Build-out

Overview of Tenant Improvement Strategies

While many lease provisions never come to light for tenants, there is one that all tenants face after the lease is signed: the Tenant Improvement Provision a/k/a “Work Letter”. Given the amount of dollars at stake and its operational significance … Continue reading

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Pre-lease IssuesTenant Build-out

Tenant Improvement Strategies – Allowance Approach

Under the Allowance Approach, the tenant is allotted a cash allowance from the landlord for construction and related costs.  To the extent the total costs are less than the allowance, and if properly negotiated, the tenant retains the savings.  On … Continue reading

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Pre-lease IssuesTenant Build-out

Tenant Improvement Strategies – Turnkey Approach

As the name implies under this approach, the landlord – at its sole cost – is responsible for all elements of construction based upon an agreed to scope of work.   Many tenants are attracted to the simplicity of this approach, … Continue reading

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Pre-lease Issues

How Reliable are Lease Comps?

In office lease negotiations, like most other negotiations, there’s the “sticker price” and the final deal terms. As to the latter, landlords and office brokers frequently talk about comparable lease transactions, a/k/a, “Lease Comps”. Many tenants confuse the reliability of … Continue reading

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Pre-lease Issues

Update on Proposed Lease Accounting Changes – Heeding Industry Comments

Responding to the comments from the corporate real estate industry, several weeks ago the joint accounting boards (FASB and IASB) softened their position on some controversial points in their August 2010 draft lease accounting proposal. Two major criticisms of the … Continue reading

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