Leases – Downsize

DOWNSIZE

1. Assess expansion options:

  1. Current building and others with same ownership
  2. Sublease and Termination Options

2. Detailed lease comps, including:

  1. Negotiated rate & term
  2. Free Rent
  3. Construction Allowance
  4. Other credits and inducements/concessions

3. Lease expansion financial projections

4. Lease abstract highlighting improvements

  1. Personal Guarantees & Security Deposits
  2. Operating Expense Restrictions
  3. MEP and HVAC Warranties & Caps
  4. Parking Guarantees and Costs
  5. Expansion and Renewal Rights
  6. Termination Rights
  7. Holdover Penalty
  8. Sublease and Assignment Rights
  9. Limiting Relocation Rights
  10. Interruption of Services
  11. Events of Casualty Considerations

5. Negotiate important deal terms

  1. Term and Rental Structure
  2. Commencement Language
  3. Security Deposit Requirements
  4. Operating Expense Restrictions
  5. Construction Allowance & Reimbursements
  6. MEP and HVAC Warranties & Caps
  7. Parking Guarantees and Costs
  8. Technology and Security Offerings
  9. Expansion and Renewal Rights
  10. Termination Rights
  11. Purchase Options
  12. Holdover Penalty
  13. Sublease and Assignment Rights
  14. Compliance Responsibilities
  15. Insurance Requirements
  16. Relocation Rights
  17. Personal Guarantees

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