Choyce Peterson Establishes Blog with Commercial Real Estate Advice; “Space Is Money” Provides Weekly Resource from Westchester/Fairfield County-based Brokerage Firm  

Stamford, CT, Feb. 26, ‘10 ¾ Choyce Peterson, Inc. (www.choycepeterson.com), a commercial real estate brokerage and consulting firm, today announced it has established a blog, “Space Is Money,” with commercial real estate advice for corporate executives.

The blog covers a number of useful topics invaluable for any organization  renewing or seeking new office space. The subjects include buyouts, market observations, subleasing considerations, security deposits, lease clauses and much more. New entries are created and reviewed every week by the Principals of the firm. The blog is located on the company web site at www.choycepeterson.com/blog.

John Hannigan, Principal of Choyce Peterson, said, “We believe in empowering and informing our clients, and our blog exemplifies that philosophy. Each week, we carefully cull through a variety of concrete topics before selecting and writing a concise synopsis in non-technical language. Through our weekly entries, we are, step-by-step, creating a body of work and valuable resource for corporate executives.”

Alan Peterson, Principal of Choyce Peterson, expanded on Mr. Hannigan’s observations by discussing some of the entries such as the tactic of seeking periods of free rent when the landlord is unwilling or unable to negotiate any further regarding the base rent.

The blog entry, “Advantages of Free Rent,” states, “Most tenants understand the impact of office rent on the bottom line and try to reduce it, most often by negotiation. However, they frequently neglect free rent, a common concession in the current real estate market … In many instances, landlords prefer offering several months of free rent instead of reducing the monthly rate. . .”  [Increased rental rates lead to a higher market value for the building and also allow landlords to obtain financing more easily.]

Hannigan and Peterson also noted other efforts by Choyce Peterson to empower their clients such as an interactive tool kit on their web site, in many ways simulating a virtual broker.