Author Archives: Don Wenig

Tenant’s Lease Renewal Strategies

Lease renewals are one of the most profitable leasing transactions for landlords.   As most tenants look to renew their lease to avoid the disruption associated with a relocation and as landlords perceive existing tenants as a “captive audience”, I’ve outlined … Continue reading

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Operating Expense & Tax Reconciliation Season: Don’t leave Money on the Table

Now that the holiday season is over, ‘tis the season for Operating Expenses and Tax reconciliation for office tenants.  As most office leases allow the landlord to recapture increases in Operating Expenses and Taxes (which tenants commonly pay on an … Continue reading

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Lease Accounting Change Gets the Go-Ahead

On November 11, 2015, the Financial Accounting Standards Board (FASB) decided upon the effective date for the long awaited and much debated new lease accounting standard requiring companies to recognize leases on their balance sheets.  The effective date for public … Continue reading

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Don’t Let Your Landlord Push You Around with Their “Relocation Right”

With strong office markets in many parts of the country, landlords are becoming rather bullish.  In that spirit, they are looking to maximize leasing flexibility in accommodating new and growing tenants.  One leasing flexibility tool that landlords have in their … Continue reading

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Office Tenant Letters of Intent Strategies

The best time for a tenant to negotiate key lease terms is before the tenant negotiates the lease.  After a tenant requests the landlord to prepare a draft lease (on its landlord favorable form), the tenant has signaled to the … Continue reading

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What Tenants Need to Know About Estoppel Certificates

Willis Tower sells for $1.3 Billion.  Such eye-popping sales headlines are fairly common today. With low interest rates and rising rental rates, we’re seeing record volume of office building sales in Chicago and many markets nationally.  As part of the … Continue reading

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Tenant’s Guide to Navigating Landlord-Favorable Office Markets

With the start of the new year and with the stock market continuing to break new levels, there’s a strong sense of optimism in our economy.  As office vacancy mirrors employment rates, we are seeing vacancy rates continue to fall … Continue reading

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Transparency Coming to Office Buildings’ Internet Connectivity

Reliable high-speed internet access is mission critical to businesses today.  With rapidly changing technological improvements from video conferences to 3-D printing, a building’s connectivity must be vetted by tenants early in the site selection process as a key infrastructure element … Continue reading

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The WELL Building Standard® for Your Well Being

How does your office space affect your health?  If you think about it, most office spaces and buildings are designed to minimize the physical activity of its occupants.  While many office spaces today are certified as meeting the sustainability standards … Continue reading

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Loft Tenant’s Leasing Checklist

Many creative and technology companies gravitate to loft office buildings due to their unique character as they are typically renovated warehouse buildings (either concrete or timber construction).   In addition to the usual office building due diligence, below is a checklist that … Continue reading

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