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. . .
Stamford, CT (PRWEB) February 26, 2010
Choyce Peterson, Inc. (http://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 http://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.
For more information, call 203-356-9600, visit http://www.choycepeterson.com or write Choyce Peterson, 2001 West Main Street, Stamford, CT 06902.
About Choyce Peterson
Choyce Peterson, Inc., a commercial real estate brokerage and consulting firm, was founded in 1997 and includes offices in Stamford, CT and Rye Brook, NY. The company has negotiated millions of square feet of transactions, spanning 42 states and Canada, for national clients such as Pepsi Bottling Group and Mercedes-Benz Credit Corp. as well as local clients in Fairfield and Westchester counties. The Choyce Peterson process delivers creative and comprehensive real estate solutions to help clients derive maximum value from their real estate decisions.
Principals John Hannigan and Alan Peterson offer more than 50 combined years of real estate experience. Prior to joining Choyce Peterson, Mr. Hannigan worked for the former Rostenberg-Doern Company and specialized in the Fairfield/Westchester County region. He has won numerous real estate awards during his 20-year career. He holds a degree in marketing from Fairfield University.
Alan Peterson previously served as a Principal of the former Rostenberg-Doern Company and Director of Commercial Real Estate for Champion International. He has worked with major corporations including Pepsi Bottling Group, GTE, Mercedes-Benz Credit Corporation, James River Corporation and Cendant Corporation. Mr. Peterson holds an undergraduate degree in accounting and a graduate degree in finance.
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