Leasing Process
Process Timing
Commercial Lease Legal/Business Items
Process Timing
Commercial Lease Legal/Business Items
In general a company should allow anywhere from four to twelve weeks to identify a new facility, negotiate business points and legal terms, and move-in. However if search is more complex and is larger in size, more time is likely necessary. This schedule is highly dependent on the specific search being conducted and can vary based on any of the following: availability of product in the market, scope and duration of work to be completed by the owner or tenant, complexity of the requirement and size of the company performing the search. A good rule of thumb is to start earlier rather than later.
We recommend that you read your commercial lease thoroughly and that you consult with an attorney prior to entering into any commercial real estate lease agreement.
While there are many business and legal points to consider, common areas to be addressed include: holdover rent, sublease/assignment fees and required approval windows, who is responsible for code compliance and “net” charges in addition to base rental.
Our team is prepared to discuss these items and more with you to mitigate future risks to you and your business.