Lease Negotiation: Getting Some Help
Oct/Nov 09
Prior to deciding on a broker, though, ask for references in terms of current clients. Then get feedback from the references. Did the broker pursue better lease terms tenaciously? Bring in a lease that was "on budget" in terms of your current needs? Complete the work on time? And how well has the broker's lease withstood slow erosion by operating expense pass-throughs?
Be aware there are two types of brokers: "tenant" and "landlord." The latter represents space marketed by property owners, so there can be a conflict of interest when it comes to lease terms. It's smarter to use a "tenant broker," who represent tenants exclusively.
You may want to seek the help of a consultant who specializes in property leases. One good source of experts is the membership list of the Counselors of Real Estate (CRE), comprised of real estate, financial, legal, and accounting firms who specialize in property lease negotiations. Visit their website at www.cre.org and click on "Find a CRE" to locate a counselor in your region.
Looking for definitions of the leasing world's puzzling terms? Visit the website of the International Tenant Representative Alliance at www.leasesmart.com. Click on "Lease Terms and Definitions."
Project Announcements
Western Smokehouse Partners Plans Mexico, Missouri, Manufacturing Operations
11/02/2024
Ridgenet Network Group Expands Pulaski County, Kentucky, Manufacturing Operations
11/02/2024
BENTELER Automotive Corporation Expands Duncan. South Carolina, Operations
11/02/2024
Graham Packaging Expands Tangipahoa Parish, Louisiana, Production Operations
10/30/2024
OmniaBio Plans Hamilton, Ontario, Manufacturing Operations
10/30/2024
Northern Hardwoods Lumber Upgrades Houghton County, Michigan, Operations
10/30/2024
Most Read
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024
-
The Role of Rail in Industrial Development
Q4 2024
-
Cold Storage: The Next Big Thing in Industrial Real Estate
Q3 2024
-
Which AI Tools Work for Job Recruiters?
Q3 2024
-
Exploring the Dynamic Landscape of Industrial Packaging Solutions
Q3 2024
-
Permitted Power Capacity Foreshadows Health of Regional Economies
Q3 2024
-
What If the Longshoremen's Strike Had Persisted? Examining the Potential Economic Fallout
Q4 2024