Lease Negotiation: Getting Some Help
Oct/Nov 09
![](https://cdn9.areadevelopment.com/article_images/id8627_Negotiate_ArticleLarge.jpg)
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
Northland Corporation Expands Greenville, Michigan, Operations
08/29/2024
Swedish Match Expands Daviess County, Kentucky, Operations
08/29/2024
Ardent Mills Expands Commerce City, Colorado, Production Operations
08/29/2024
Paul Mueller Company Expands Springfield, Missouri, Manufacturing Operations
08/29/2024
Nashville Wire Products Expands McEwen, Tennessee, Operations
08/28/2024
Crusoe Energy Systems Plans Tulsa, Oklahoma, Manufacturing Operations
08/27/2024
Most Read
-
19th Annual Area Development Gold and Silver Shovel Awards
Q2 2024
-
What the Latest EPA PFAS Rule Means for Site Due Diligence
Q3 2024
-
Semiconductors’ fragile relationship with water may be tested
Q3 2024
-
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
Q3 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
Mitigating Site Risks for Industrial Projects
Q3 2024