As an adviser in the property industry I urge landlords and tenants to look at the benefits of PACT as, arguably, the determination of all or some of the terms for a renewal lease
are better dealt with by an independent expert rather than the Courts.
Office building owners struggling to retain their tenants in the weak economy are more likely to pay a full broker's commission on a renewal lease
compared to a year ago, landlords said.
Only in certain circumstances can a landlord refuse the granting of a renewal lease
2 million square feet of new and renewal lease
transactions during 2014.
In April, the Company executed 65,540 square feet of leases comprised of a 15,540 square foot renewal lease
and 50,000 square feet of temporary leases.
If they are rent regulated tenants, their last renewal lease
could have been two years earlier and even if it's more, by the time they are subletting, that information could be nearly two years out of date.
New Jersey announced the completion of a 193,100 s/f industrial renewal lease
for tenant Performance Team Freight Systems, Inc.
rents increased an average of 6% over expiring rents;
is the largest distributor of physical and digital content in the world, signed a two-year, 1,600 s/f renewal lease
BentleyForbes has signed 15 new and renewal lease
agreements this year with tenants across multiple industry sectors.
In February, the Company executed two renewal leases
for approximately 137,000 square feet and one short-term renewal lease
for 30,000 square feet.
Newmark's team also negotiated the renewal lease
for Quest Diagnostics.