New Development Leasing and Tenancies

The prospect of opening shop in a new development can be an exciting time and a stressful period when you have many things to juggle.  

One of the key roles a leasing agent plays in the equation is to not only to help in finding the location but also to negotiate best possible terms and specific lease clauses in your favor.   Consider for a moment you are ahead of the curb and this is not your first location.  The process seems all too familiar to you however, all of a sudden you find yourself across the table from the landlord and the rents discussed don't line up or the additional rents seem out of context from your Offer or understanding of the Lease? what then? 

Below are some examples where an experienced professional could help save you thousands of dollars and unnecessary frustrations by ensuring the following topics are covered in the negotiation of your Offer to Lease and Lease.

1. Turn over date, Possession date, Lease Commencement and commencement of additional rents. 
2. Area: The size of the space may not be higher than X% once completed and the Common area may not include X  site components.
3. The Operating costs provided must be the most recent or those anticipated for when the lease will commence to help with your budgeting.  
4. What the gross up is on the space. 
5. Relocation clause wording.
6. Exclusivity

Sometimes the excitement and proposition of opening a new business can blind the Tenant on the fine print of the contract and the consequences can be detrimental.   

At Molina Real Estate we incorporate years of experience working with Landlord leases in our review of a transaction.  Could you use this type of advisory expertise on your side?

info@molinarealestate.ca