In most commercial leases, a tenant will pay a penalty for failure to vacate the premises in a timely fashion at the end of the lease term. Said penalties are often stated as 1.5-2.0 times the rent. Tenants may opt to negotiate this number down to a more acceptable amount if/when reasonable circumstances arise to hinder a prompt departure.
To compete in today’s business environment, corporate tenants must demand more from their commercial lease. After all, real estate often represents a company’s second greatest expense after personnel costs.
Now more than ever, a commercial lease must be more than just a liability on the balance sheet. It should be nothing less than a flexible, powerful asset, tailor-made for a business.
At Choyce Peterson, we make this goal a reality for corporate tenants nationally, with a local focus on Fairfield and Westchester counties.
Choyce Peterson delivers unique tenant brokerage services, providing corporate tenants with a competitive advantage in the search, negotiation and administration of their real estate needs.
Now more than ever, deep knowledge of a local market is essential to success for building owners, investors and landlords.
Choyce Peterson provides building owners, investors and landlords with a distinct alternative to local branch offices of distant headquartered national chains. The same access to key market data combined with a unique, in-depth knowledge of the area; a firm with roots not branches.