“I would move, but I’m stuck in a lease.”
When talking with tenants, one of the most common responses when discussing a potential relocation is, “I’m stuck in a lease for another two years”. In the tenant’s mind, it translates to, “I don’t want to talk to you, or you can’t help me, so go away.” Often, this is because they feel “stuck” in their lease which is a common misconception about leasing property. Tenants generally don’t realize that there can be various potential solutions available to them which can remedy the situation.
Take a look at the Solution Spotlight below where one such tenant found a better business solution!
Transglobe Automotive had two locations with time left on both leases. They thought they were stuck, until we discussed their options. They were able to lease the new & bigger location at a great rate!
Previous Location #1: 25,000 SF
- 16401 Berwyn Road
- Lease Expiration October 2015
- Existing Tenant Vacated August 2014
- Subtenant Scheduled for October 1 Possession
Previous Location #2: 10,000 SF
- 13722 Milroy Place
- Lease Expiration July 2015
- Tenant to Vacate End of September
- Negotiating Sublease with October 1 Possession
- Nominal Out-of-Pocket Expense
New Location! 72,712 SF
- Possession Date August 2014
- 66 Month Lease
- 6 Months Free Rent
- $0.53 Effective Rate