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Category Archives: Leases
How To Know If You Got a Good Lease Deal
Everyone likes to get a great deal whether it’s on a new home, a new car or a new office lease. There’s pride in knowing that you got better terms than other people or that you were able to move … Continue reading
Posted in Leases, Negotiating, Strategies
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How the City Is Already Undermining the Real Estate Tax Abatements
In 1997, the City of Philadelphia created a real estate tax abatement program to stimulate new residential and commercial development and invigorate the economy. With 26% of our City living in poverty and many others needing to be subsidized by … Continue reading
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Record Sale Price for BNY Mellon Center Isn’t High Enough
The pending sale of BNY Mellon Center is music to the ears of many Center City building owners. It wasn’t all that long ago that trophy buildings in the Central Business District could be had for as little as $125/sf. … Continue reading
Posted in Leases, Markets, Negotiating, Strategies
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Explaining Amazon’s HQ2 Decision
(And How Philadelphia Can Change the Story Next Time Around) After an unprecedented 14-month public search competition, Amazon finally announced the winner(s) of its coveted headquarters decision. To everyone’s surprise, it did not pick a city. It picked two … Continue reading
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Opportunity Zone Investments Still Need to Be Good Opportunities
The new Opportunity Zones created in the Tax Cuts and Jobs Act of 2017 (the “Tax Cuts and Jobs Act”) are the darlings of real estate right now. And for good reason. These Zones could potentially enable trillions of dollars … Continue reading
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Defeating Philadelphia’s defeatist attitude – What we can learn from basketball legend Michael Jordan
When it comes to competing for headquarters projects like Amazon’s, cities are just like corporations competing for customers or individuals competing to be the best in their profession; they need to honestly assess their relative strengths and weaknesses and work … Continue reading
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Corporations and Wealthy Homeowners are Not the Enemy; They’re the Solution
A lot has been written in recent weeks about the 10-year real estate tax abatement program and whether it should be continued, eliminated or scaled back. Most of the objections come from people who feel that the abatements disproportionately favor … Continue reading
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Why All the Sublets and What Does It Mean for the Future of Commercial Real Estate?
In the past 12 months there has been a significant uptick in the number of sublets hitting the market. And these sublets are very different from the sublets we have seen in the past. In many instances, companies are not … Continue reading
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Don’t Treat Your Lease Negotiations Like a Poker Hand
Everyone knows that to get the best deal terms you need to create competition for your requirement. This applies whether you’re talking about cars, a business or your next office lease. To create competition, you need to have viable options. … Continue reading
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Why Exclusive Brokerage Relationships Benefit Tenants
Up until the late 1980s, commercial real estate brokers identified available space in the market either (1) through listing work that they were performing for their landlord clients or (2) cold calling to other brokers and landlords. While residential brokers … Continue reading
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