Different cities, different landlords, different space measurement methods! Accurately defining your leased square footage is important. How can you best protect your company’s interests and assume that you are getting the amount of usable and rentable square footage that you bargained for? Since 1915, the BOMA Standard Method for Measuring Floor Area in Office Buildings…
When a company acquires or merges with another company, it’s often also acquiring outstanding obligations, holdings, liabilities, employees and real estate assets. M&A due diligence should include a comprehensive evaluation of all real estate assets and liabilities. Having an experienced and knowledgeable real estate professional included early in the process of an M&A transaction will…
Labor analytics – using a combination of both primary and secondary data – will help a company to ensure the location it is considering will be able to meet its workforce needs, today and in the foreseeable future. Understanding your potential workforce, and/or your current workforce is critical when undertaking a site selection project. Ensuring…
With markets tightening dramatically around the country, most of the “low hanging fruit” opportunities for cost reduction are gone. Your team needs to be keenly positioned to bring value in other ways. Three key questions to flush out their preparedness and capabilities: How will you use data to better align the company’s real estate with…
An office lease is a long term commitment, but the real estate needs of your business are subject to change. Armed with foresight and enjoying maximum leverage (because you were still talking with multiple landlords) you had your broker negotiate a right for you to terminate your lease early. With a termination option in your…
Your company’s lease for office, warehouse or manufacturing space is set to expire in the not too distant future. Given that markets around the country are tightening rapidly, and rents are rising, how will you create leverage and drive the best results? You can always simply exercise the renewal option in your lease. Only about…
The effective date of January 2018 is fast approaching. With regard to leases for corporate real estate, finance executives and their teams can take the following steps to prepare and mitigate: Review each of your leases, starting with the largest obligations to clearly understand how they will be accounted for under the new rules. Focus…
It seems like a relatively easy, “cut and dry” decision. Your lease is scheduled to expire within the next year or two. There doesn’t seem to be anything terribly wrong with your space or the building. Your cost of space seems competitive from what you can tell, and you don’t have the time, or patience…
If you have a Right of First Offer (“ROFO”) on certain space, then the landlord must offer to lease the ROFO space to you (when it becomes available) before it can be put “on the market” for lease. Most office leases structure ROFOs so that it is the landlord who makes the initial price offer,…
In a sign that expectations of a permanent work-from-home culture may be overstated, a fresh KPMG survey of top CEOs worldwide found a mere 17% plan to shrink their overall offices, an abrupt drop from the nearly 70% talking about it in August. The sharp drop in office plans for the next three years comes…