In case you missed them, here are some of the posts from our blog in October:
If you aren't used to the world of commercial real estate, an office lease may seem very complicated. Lease agreements can span multiple pages of complicated legalese, cost your company millions of dollars and lock you into a space for years or even a decade. However, underneath all of the jargon and complexity lies a relatively straightforward business transaction.
Way back when, it used to be that you had to lease office space downtown. Then, in the 1970s, companies started following their workers out to the suburbs and the large suburban campus was born. Now, the rule of thumb is supposed to be that you have to move back into the city. However, it isn't quite that simple.
More and more, the business papers are starting to talk about the dreaded R word. With the US economy continuing to expand and the post Great Recession expansion on track to be the longest expansionary period in recent history, it's almost to be expected that there would be an eventual slowdown. However, if you're betting that the slowdown will make it cheaper to sign a commercial lease, you might be in for a nasty surprise.
Some tenants enter space negotiations by touring potential sites with their broker then sending out a request for proposals. The RFP process lets tenants collect offers from landlords without revealing a great deal. However, there might be times when you want to directly enter into a negotiation with a landlord. In those instance, you and your broker can choose to submit a letter of intent and bypass the RFP process.
Getting near the end of your commercial lease agreement? If you haven't started thinking about whether to renew your lease or move into a new space, it's time to get started. After all, you'll need to time to find that perfect new space if opt to forgo renewal, and if you do choose to stay in your current location, you'll want plenty of time to negotiate a fair deal.
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