Q: We lease approximately 7,000 square feet of office space for our law firm. The space works well and is in a good location for our employees. Our lease expires in a year, and we have an option to renew. Is it really worth the effort to consider moving? A:  My answer is a resounding yes, if...

Q:   If I hire an exclusive broker to represent me in the purchase of a building, what is he doing to make sure that I find the right building? A: I cannot speak for all companies that represent buyers, but I can tell you what our firm does in representing buyers or tenants. And when I say,...

Q: We have made an offer to purchase a building. Our broker insisted that it made "subject to environmental." What exactly does that mean? A:  When purchasing any real estate, one of the most critical items to research is the environmental condition of the property. There are several critical...

Q; I own an industrial building and my tenant has informed me that they will not be renewing the lease next year. What’s the best way to find a tenant and lease the building quickly? A: The days of putting a sign on your property, marketing a building by yourself, and hoping for the best are over....

Q:  What would be the advantage of selling our manufacturing plant and leasing it back, as opposed to just refinancing the building? A:  There are several advantages to selling your property to a third party and simultaneously executing a long term net lease to occupy the building. As...

Q: We are planning to lease a larger manufacturing facility on Long Island. Our broker says the landlord is going to require “lease enhancement”. What does this mean, and how should it be negotiated? A: Lease enhancement refers to a means of providing additional assurance to the landlord that you...

When a company is negotiating a long-term lease for a new manufacturing facility, it is important to know what an option is and how it can affect the negotiations of a lease. The definition of an option is a provision in an agreement that gives one party the right, but not the obligation, to...

Q: What do you recommend as the right lease term for an office lease? A: This is highly dependent on your objectives and the nature of your company. So, let’s start with some of the advantages and disadvantages of short and long terms for a lease. One of the major advantages of leasing office...

Q:   I have a building for lease. I want to make the property attractive for a tenant but have a limited budget. Where do I start? A:  When marketing commercial real estate, there are three major concerns that you should address with respect to property maintenance. These are the...