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Effective project management can save a firm money and design time when considering office space options. Experienced project partners can represent their client’s best interests at every step of the process. One key person orchestrates all members of the project team including the architect and designers, general contractor, engineer, telecommunications specialist and others, from IT and audio-visual technicians to signage and art consultants. Without clear direction and coordination, delays can occur, and that translates to wasted time and money.

While the ongoing COVID-19 Pandemic has proven trying for many retail establishments, many businesses in Westport, CT are finding new opportunities amidst the crisis. With retail vacancies increasing over the course of the pandemic and retail rents decreasing, many new shops, restaurants and bars are taking advantage either with a “flight to quality” by relocating to high traffic, high pedestrian locations or opening brand-new businesses in these desirable destinations. This surge is centered on the city’s historic downtown area, with many of the new establishments cropping up along major thorough-fares like Main Street and Post Road East.

Landlords require security deposits to protect themselves from losing upfront costs and renovation expenses in the event of default by a tenant.

Does your landlord view you as a gnat or 800-pound gorilla? Knowing the answer to that question can greatly affect your ability to negotiate terms in your new or renewed commercial lease. Of course, a gnat to one landlord may be a gorilla to another!

Does your landlord view you as a gnat or 800-pound gorilla? Knowing the answer to that question can greatly affect your ability to negotiate terms in your new or renewed commercial lease. Of course, a gnat to one landlord may be a gorilla to another

A tenant’s prerogative to sublease surplus space creates an ongoing opportunity to “right size” its operations and reduce costs. As such, it is surprising how many commercial tenants blithely accept lease clauses restricting their rights in this critical area.

Experienced tenant brokers deliver the most advantageous transactions to their clients including many benefits based on exclusive representation and unavailable to businesses “going it alone.”

While a default clause in a lease can address simple topics such as failure to pay rent or maintain the space in a clean manner, more often, it addresses issues such as illegal use, declaring bankruptcy, vacating the premises and more.

Events of the last two years are allowing Westport to make decisions about its housing stock independent of existing state and municipal regulations. In March 2019, the state awarded Westport a four-year moratorium on 8-30g applications.

Tenants evaluating only the rental rate when comparing a Class A building ($31/sf) to a Class B building ($28/sf) may be making an error much more costly than the 10% discount.

In today’s office market, landlords are providing generous improvement allowances to fund the renovation of office space for new and renewing tenants. The amount depends on many factors including the credit worthiness of the tenant, the terms in the lease and the total square footage of the space. Generally, a landlord offers more for larger tenants with a longer lease term (seven years or more).

Tenants who find themselves in a situation where they need to consider buying out of their existing office lease often do so for various reasons. In this article, we will explore the three main motives behind such a decision and discuss the potential advantages and considerations for tenants. Additionally, we will delve into the implications for landlords, including their strategies to avoid extended vacancies and the benefits they can offer to tenants in the process.

Most tenants understand the impact of office rent on their bottom line and try to reduce it, often by negotiation. However, they frequently overlook free rent, a common concession in the current real estate market.

Most tenants understand the impact of office rent on the bottom line and try to reduce it, most often by negotiation. However, they frequently neglect free rent, a common concession in the current real estate market.

What is medtail and why are we writing about it? Honestly, when we first saw this word in writing, we had to Google it. This new buzzword refers to a medical or healthcare tenant occupying space in what has traditionally been a retail environment. If you pay close attention, there’s a good chance you’ve seen these new alternative ‘stores’ pop up in your local shopping center. Over the past few years, Healthcare clinics have been opening in strip malls across the country, but the COVID pandemic has kicked things into overdrive, bringing this emergent trend front and center.