CASE STUDY / DEAL REVIEW
Oxford Agents: Vincent Vega
Summary:
We helped a client secure new office space after subleasing for years. Among other benefits, we negotiated a very high tenant improvement allowance using the tenant’s preferred contractor. We also negotiated a nice rental discount and some free rent.
| Property Type: | Class B Office |
| Tenant Industry: | Criminal Law |
| Size: | 2,268 SF |
| Submarket: | North Loop West |
| Transaction Type: |
Relocation |
| Free Rent: | 4 months |
| Tenant Improvements: | $28.00/RSF Allowance |
| Negotiated Discount (%) | 5.4% |
| Parking: | Free Parking |
| Renewal Option: |
Yes |
| Sublease Rights: | Yes |
Other Rights worth mentioning:
1) The landlord must complete common area improvements by a certain time
2) Use of tenant’s personal contractor
3) Improvements to the Default Provision
4) Right to audit landlord’s books
5) Lowering the subleasing fee be paid to the landlord & splitting profits with the landlord 50/50.
Vincent Vega
(713) 575-2471
vvega@oxfordcres.com