each went to sleep thinking the deal was over, only for the agent to save it the next day. There are so many brokering aspects like that in each deal and lease. Another story I heard about is a tenant who was looking for about 30,000 SF. The only building he liked in town had a floorplan of 37,000 SF, and the owner wouldn’t split up that other 7,000 SF. The broker extended the term of the lease proposal from five to eight years. The key was, the tenant wouldn’t have to pay the extra 7,000 SF until after the first two years. The longer lease favored the owner, while that stipulation helped the tenant. The tenant could use the extra space for the two years, as well. He ended up taking the deal, with the goal to gradually expand into the extra space. The last example pertains to a smaller deal. The tenant only wanted to do a one- or two-year lease. It was tough to find space for that short a term, since it already had to be built out and fit the tenant’s needs. Eventually, the broker found the space that fit, but the previous tenant was leaving the furniture. The tenant would get to use the furniture without paying for it, but in return, the owner demanded a three-year lease, instead of two. The tenant saved about $60,000 in furniture after it was appraised. That was worth more than the extra year on the lease, so it was signed. However, the extra year would backfire on the tenant. The business folded in 20 months, and he was stuck in the lease. Luckily, the broker was able to bail him out, after finding a rare short-term tenant to take on a 16-month sublease. These stories illustrate the intricacies and details that go into every move, negotiation, and lease signing. The number of aspects that can be (and usually do get) negotiated can seem endless.
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