Your total lease obligation can be difficult to correctly calculate and compare to other alternatives, which can cost you significant dollars:
- Rentable vs. Useable
- Gross Lease vs. Triple Net vs. Modified Gross.
- Stepped Rent vs. Free Rent vs. Abated Rent.
- Expense Stop vs. Base Year vs. NN vs. CPI
- TI Allowance vs. Turnkey vs. As-Is
- Total Actual Rent vs. NPV of the Lease Term
- Own vs. Lease Comparisons
“Dean Bundrick, of Orion Partners, has been our tenant representative since the mid-90’s, which says something in and of itself. He was our advocate at my prior law firm, which leased as much as 24,000 square feet and remains our representative for The Ford Firm at Union Square II. During that time, he has met with us throughout our lease terms to discuss different possibilities and update us on the office market. He generally starts 1 1/2 – 2 years prior to our lease expiration in order to provide us all with opportunities, including possible to-be-built developments.”
– William H. Ford, President, Ford Murray PLLC