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Lawyers have spent more time in the office than many other professionals during the pandemic. Now they’re demanding more work from home. Between 100-hour workweeks and all-nighters at the office, many young lawyers climbing the partner track have long expected to put in copious amounts of face time.
Ready or not, CFOs, the new FASB Rules for lease accounting will go into effect soon. They’ll make US firms that use GAAP and have significant leases have to expand their balance sheets. Here are six mission critical things you need to know.
The United Kingdom has held a pivotal position in European venture capital as a hub for both investors and startups, and that’s particularly true in categories where it has been strong, including financial technology (“FinTech”), games and BioTech.
Finding the right space for your business is a complicated process involving a number of moving targets. Everyone is familiar with the old adage of “Location, Location, Location,” but timing and pricing will also dominate the decision-making process during your next commercial property acquisition.
When Commercial Tenants need a 100% Tenant Representative the most is not when they need to relocate. It’s when they want to renew their leases. Even if you are a great negotiator, you simply can’t wing it at Renewal Time and expect to win.
In today’s world, corporate real estate means different things to different companies, but one thing that is consistent for all firms is strategic alignment: the viewpoint of a company’s Corporate Real Estate Executives (“CREs”) should reflect the strategic goals of the company. CREs must mine all of the data and reports received on their industry and create knowledge that is pertinent to their company’s business in order to “read the tea leaves” of the market…
Perhaps the most overlooked facet of leasing new office space is the complicated world of work letters, which are attachments or exhibits to a lease, identifying the Landlord’s responsibilities to fund all or a portion of the improvements to the Tenant’s premises.
American companies are competing in a vast and highly competitive global arena. Economics are forcing companies to look very hard for the best and most economically competitive locations from which to work.
How to gain the maximum advantage in negotiating a commercial lease with any Landlord. There’s a time to dance and a time to dogfight, whether you are renewing or renegotiating an existing lease or moving into a new building with a new Landlord.
Can a Landlord cause you to overspend a Tenant Improvement (“TI”) Allowance leaving you holding a surprise tab costing thousands? Absolutely, so it pays to eyeball your TI costs sharply, even in a “turnkey” situation.
So how do you get back a full refund of your Office Security Deposit? Doing it successfully is like having a credit card that pays 2.8% Cash Back at the end of a three-year lease or 1.7% Cash Back on a five-year lease. That’s a great credit card…
Commercial Landlords play their peculiar brand of high stakes poker every day. Leasing office or industrial space from them can be complicated, time consuming and downright tricky… plus expensive if you make even a tiny mistake.
Companies that service the mining industry will find a thriving, supportive mining community in Tucson, Arizona, where opportunities exist for start-ups, relocations or expansions, according to this white paper by Michael Coretz of Commercial Real Estate Group of Tucson.
Believe it or not, corporate tenants often spend more time and money matching up purchase orders and paying for bottled water than they spend making sure that their rent expense (most likely the second highest company expense after personnel) is correct.
Should all Office Tenants audit their Landlords’ operating expenses annually? The answer is probably no. However, there are certain situations when auditing the Landlord’s lease operating expenses may be a very prudent business decision…
Lease (accurate & complete) – This is one change to which the Landlord shouldn’t object, since you are simply making the lease document consistent with the agreement with the Landlord. It is surprising how often the lease document doesn’t contain the agreed-to terms or describes them inaccurately.
Eliminate Personal Guaranty: The Landlord can look only to the Tenant entity in case of default.; 2. Eliminate Spouse from Guaranty: The Landlord can look only to the individual guarantor and may not be able to attach assets that are owned jointly between spouses.; 3. Limit Personal Guaranty to a fixed time period: The guaranty expires after said period.; 4. Limit Personal Guaranty to a fixed…
For commercial tenants, the best way to understand how lease renewals work is to look at how wireless phone companies treat new clients versus their returning customers.
When you walk in New York City, you quickly realize that each neighborhood has a different vibe, style and architecture. This is the beauty of Manhattan. Go ten blocks, and suddenly it’s a new experience.
A “Good Guy Guarantee” is a limited personal guarantee that enables a commercial Landlord to pierce your corporate veil as the Tenant and legally go after your personal assets, if your company stops paying rent and refuses to vacate your leased commercial space.
Toronto, like many large international cities, offers a distinctive business climate that reflects local regulations and national traditions, but the city also holds another important distinction: it has endured the volatility of the global corporate real estate market during the last four years remarkably well.
How to “Grow” a Building without moving a brick! How Landlord’s can increase their revenues by adjusting a building’s “load factor” or “common area factor” to increase a tenant’s “rentable square footage.”
France is the second European economy and has great infrastructure, food, wine and flair, so there are plenty of business and cultural reasons to have business operations in France. But what are the compelling and motivating factors for the corporate tenant considering expansion into or relocation within the French market?
The cost of leasing corporate office space is normally the second highest expense for most companies and involves many complex financial considerations. Therefore, tenants must take a methodical approach to lease negotiations and diligently scrutinize all details of a proposed lease.
When I was originally put to task to find Gigya’s satellite office in Phoenix, Arizona, I had things to consider that went beyond brick and mortar. I needed to incorporate the fabric of our business and our culture into a living space. Gigya is a software company that gives business the power and ability to connect on a very personal level with their consumers and advocates.
Office Leases are like (paper) mine fields. There are dangerous places to step… beyond the rental rates. You know to hunt for a quality building with the right-sized suite and to negotiate the rental rates. But it takes extra time to find several buildings with viable spaces.
Our work with Mozilla, the Mountain View, a California-based technology organization best known for its Firefox web browser used by 450 million people worldwide, began in early 2011 with a highly unusual but pleasurable phone call from Mozilla CFO James Cook.