For those in commercial real estate, specifically retail real estate, you’re familiar with Exclusive Use Rights – a tenant can (and generally should) require a landlord to prohibit leasing space to another tenant selling the same product, or allow any other specified activities that could interfere with the success of their business. Typically this Exclusive Use component of the lease is based on the property itself.
While this is nothing new to the retail segment, oddly enough, this idea of Exclusive Use is now also spreading into office real estate.
Why? Because the popularity of creative office spaces and mixed-use properties continues to increase.
I recently read an article in the Birmingham Business Journal that discussed ten things a tenant should ask before choosing office space. While all ten were fair questions that would prove informative and beneficial for the tenant, I believe the most critical question to ask is, “Why don’t we hire a competent tenant representation broker?”
Have you ever wondered if it were better for you to lease or purchase your office space? Or maybe you’re interested in purchasing a shopping center as an investment, but you want to know more about how retail investments work. Or maybe you just want to know what to expect out of a typical commercial lease on your warehouse space.