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"Green" (1)
Area Measurement (1)
Commencement of Lease Term (1)
Electricity (1)
End of Lease Term (2)
Lease Audit (2)
Options, Rights, and Renewals (7)
Pass-throughs (1)
Pre-lease Issues (6)
Superior Interests (2)
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Author Archives: Don Wenig
Australia uses the Stick to enforce Sustainable Office Space Requirements
As one of the vanguards in environmental sustainability of commercial properties, Australia now imposes significant fines for non-compliance with certain energy efficiency standards. Building owners (and some tenants) whom fail to meet these standards, as of November 1, 2011, face … Continue reading
Filed under: "Green"
Tagged green building, green office space, LEED, sustainable office buildings, sustainable office space
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How reliable are Lease Comps?
In office lease negotiations, like most other negotiations, there’s the “sticker price” and the final deal terms. As to the latter, landlords and office brokers frequently talk about comparable lease transactions, a/k/a, “Lease Comps”. Many tenants confuse the reliability of … Continue reading
Filed under: Pre-lease Issues
Tagged deal comps, lease comps, office lease deals, office rent
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Update on Proposed Lease Accounting Changes – Heeding Industry Comments
Responding to the comments from the corporate real estate industry, several weeks ago the joint accounting boards (FASB and IASB) softened their position on some controversial points in their August 2010 draft lease accounting proposal. Two major criticisms of the … Continue reading
Filed under: Pre-lease Issues, Uncategorized
Tagged FASB, finance lease, IASB, Lease Accounting, other-than-finance lease, significant economic incentive
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Florida Tenants – Beware of Double Tax on Tenant Electric Charges
As you’ll soon be receiving Operating Expense reconciliation statements, we wanted to bring to your attention a frequently overlooked sales tax charge on electric. Florida, as you may recall, imposes a sales tax on rent. Most leases provide that the … Continue reading
Filed under: Electricity, Lease Audit, Pass-throughs
Tagged florida office electric charges, florida office tenants, florida sales tax on electric, tenant electric, utilities
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How Does Your Office Measure Up?
How we measure office space is changing. The most widely accepted measurement standard by the Building Owners and Management Association (BOMA) recently released a new measurement standard for office space utilizing two different methods. The biggest change is the method of … Continue reading
Filed under: Area Measurement
Tagged ANSI/BOMA, BOMA, IFMA, legacy method, market load factor, Method A, Method B, office space measurement, single load factor
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Plugging the Lender Loophole: Tenants need Nondisturbance Agreements
Taking advantage of the depressed office market, as a savvy tenant you just renegotiated your office lease reducing your rent and locking in a low rent structure for the next several years. But did you close a big loop hole … Continue reading
Filed under: Pre-lease Issues, Superior Interests
Tagged Attornment, foreclosure, landlord default, lender consent, Nondisturbance, SNDA, Subordination
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Downtowns Drawing Tenants Over Suburbs: Secular Shift or Aberration?
The December 13, 2010 Wall Street Journal has an interesting article entitled “Downtowns Get a Fresh Lease: Suburbs Lose Office Workers to Business Districts, Reversing a Post-War Trend” by Anton Troianovski. The article summarizes a trend that we have seen across … Continue reading
Filed under: Uncategorized
Tagged chicago office space, downtown office space, office relocation, silicon valley office space, suburban office space
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Tenants’ Due Diligence of Landlords: Landlord Background Check
Today’s office market presents unprecedented opportunities for tenants. At the same time, tenants face risks that were uncommon a few years ago related to the financial well being of landlords. With some of the biggest names in the industry struggling, … Continue reading
Filed under: Pre-lease Issues
Tagged Landlord Due Diligence, Landlord financial strength, Nondisturbance, safeguarding tenant's interests, self help rights
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Proposed Lease Accounting Changes: What It Means To Tenants
Responding to the need for greater transparency in financial markets in the post-Enron era, a new accounting standard is being presented requiring tenants (both public and private companies) to recognize the current and future value of all leases on their … Continue reading
Filed under: Lease Audit, Pre-lease Issues
Tagged Capital Lease, Exposure Draft, FASB, FASB Statement 13, IASB, Lease Accounting, Lease Accounting Change, Operating Lease
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