It takes time to move space and as a tenant, time can be your biggest asset or your biggest liability... so make sure you have enough of it!
We are pleased to present the first installment of G.E. Grace's commercial real estate video series!
Landlords have recently become more aggressive in trying to shift some of the costs of insurance that they traditionally carried onto their tenants. In a large commercial building, the cost of all of these policies can be significant. Essentially, the insurance requirements increase the cost of leasing space. Tenants should be wary of the extra costs these insurance requirements can impose.
In the real estate business, it’s no secret in Manhattan that when you get out into the boroughs or suburbs, the quality of the landlords changes quite dramatically. It’s not true of all landlords, but there is a definite mindset that begins to take hold as soon as you cross the Hudson or East River: Tenants are a necessary evil, not valued customers.
“Total cost” encompasses more than the rent.
When negotiating a commercial lease the “total cost,” including each of these factors, must be considered:
When corporations are looking for office space, they typically start by casting a large net. This involves taking the interests of all key players into consideration before narrowing down the choices.