The common area is a “necessary evil” in leases- it covers everything from elevator shafts, secondary means of egress for life safety reasons; and HVAC vertical penetrations to the restrooms. Tenants pay, directly or indirectly through rent, for the maintenance of these areas. The combination of building utility areas and presentation spaces make up 10% … Continued

Over the life of a commercial real estate lease world events will happen. In the last fifteen years, various events- technological advances, financial spikes and dips, and acts of terrorism have directly impacted lease negotiations and terms. Jackson Cross Partners reviews, abstracts and analyzes thousands of leases a year- here are a few clauses that … Continued

It all began back in 1987, when William Penn, (perched atop City Hall) was dwarfed by a taller skyscraper. At the time, the city’s office vacancy rate was 12%, but like many other former industrial hubs, Philly’s population had been dwindling and companies were being lured out to the suburbs. With the end of the … Continued

“To have or not to have”, that is the credit question. Tenants’ credit can easily make or break a deal. With the positive economic outlook, low vacancy rates, and higher rent rates- tenants are having to do more to prove their worth. In 2014 alone, according to CoStar, there was a 42 percent increase in … Continued

Zoos used to be concrete, barred cages with little regard for the captive animal. The same could be said for offices; spaces were divided and you were assigned a seat based on availability. But times are changing and zoos are putting the emphasis back on the most important part of the operation-the animals. Similarly, companies … Continued

“Massive concrete eyesores” is most often used to describe parking garages. Originally, when garages were integrated into the urban landscape, they were usually converted stables or repurposed large buildings. But as Americans became more auto-dependent, the parking garage shifted from a mechanized or attendant parked garage to the self-park, ramped buildings that dominate today’s landscape. … Continued

The buzzword when it comes to the office environment is “flexible”. Trends, technology and tight budgets are reshaping the office interior. Cube farms are being eliminated as more companies are moving to an open floor plan and shared work space environment. Server rooms are being replaced with cloud-based solutions. And, the average square footage of … Continued

It’s not enough anymore to put a recycling can in the break-room and LED light bulbs in your desk lamp in order to say a company is environmentally conscious. According to the US Department of Energy, commercial buildings account for 35 percent of US electricity consumption. That number, along with other environmental factors is what’s … Continued

There’s a major cultural problem facing companies who are broadening their real estate beyond the US borders as well as global companies who are strategically looking at their real estate assets. The issue is business textual translation – it’s more than the difference between writing a date (3/Mar/2015 versus Mar. 3, 2015), it’s about key … Continued