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Lease Negotiations in the Time of Covid

Lease Negotiations in the Time of Covid

If you are a tenant in a weak financial position, you have more negotiating power compared to tenants with financial strength. A complete reversal of “normal” market mechanisms. Landlords do not want to lose tenants, as replacing them in this market is difficult. If...
Amazon Acquires NYC’s Lord & Taylor Building

Amazon Acquires NYC’s Lord & Taylor Building

Amazon is one of the pioneers in bringing employees back to NYC after acquiring Manhattan’s iconic Lord & Taylor building. 2,000 employees are set to be working from the site – officially in 2023 when they begin moving into the space. Creating 2,000...
The Dropping Value of REITs and Your Lease

The Dropping Value of REITs and Your Lease

What do major REIT’s stock prices dropping mean for your lease? Commercial space value is likely dropping as companies reprioritize their working arrangements. This is seen in the drop in stock value of many REITs, and not necessarily your building value just...
Asking Rents for Retail Spaces are Dropping Across the Country

Asking Rents for Retail Spaces are Dropping Across the Country

Asking rents for major retail space are dropping across NYC’s 5th Avenue, LA’s Rodeo Drive, Chicago’s Michigan Ave, and the Las Vegas strip. For the first time since 2011 prices have dropped below $700 per square foot – an 11.3% decline from a...
Is the Landlord or Tenant Responsible for Covid19 Cleaning Costs?

Is the Landlord or Tenant Responsible for Covid19 Cleaning Costs?

What is your landlord doing to satisfy the demand for more cleaning? Using more sanitizer and upgrading your air conditioner is likely necessary. These costs may be passed onto the tenant depending on your commercial lease. Typically larger tenants will take on the...