terms come in a variety of flavors--there is much more flexibility in a sublease
than the standard 3 or 5 year term that a landlord is willing to offer.
Similarly, while some leases specify that landlords must be reasonable in considering whether or not to grant such a request, other leases give landlords broad discretion to withhold consent to a sublease
for any reason.
Tech tenants finalized sublease
agreements an average of 8.
The most frequent users of tower sublease
space, according to Jones Lang LaSalle, are boutique hedge funds.
Shore up any holes in lease documentation, such as term commencement certificates and lease exhibits, and make sure all tenant credit support, like guarantors, have affirmed the lease and especially the sublease
The amount and timing of the debt service payments mirror the amount and timing of the sublease
payments due during the sublease
's primary term.
I think that the tenant world has become very astute," Turchin said; instead of offering up the back office, tenants looking to sublease
are now offering the most marketable space they can, and they're offering more appropriate terms and build-outs.
Tenants who are faced with the problem of excess space can either sublease
the space or terminate its lease.
terms include four ten year renewal options and an annual, inflation-adjusted rental payment of approximately $63,000.
But that trend was short-lived; rents on sublease
space quickly fell in the next quarter.
About 70 percent of the approximately 10 million square feet of sublease
space available in Midtown has too few years left on the lease and/or is too large to be leased, Powers estimated at the firm's quarterly market analysis meeting.
It's your tenant, telling you he wants to sublease
10,000 square feet of office space.
will save the company an estimated $1.
The company will be rolling personnel into 1345 and an office in White Plains from another Manhattan location that it occupies, 135 West 50th Street, where it is planning to sublease
Between July and December 2008, available sublease
space in Manhattan rose to 11.