Debra Stracke Anderson CCIM, SIOR, President and CEO of Sloan Street Advisors / ITRA, announced that the company represented a confidential government client in leasing 120,000 square feet of office space located at 7700 Hubble Drive in Greenbelt, Maryland, a suburb of Washington, D.C.
Hard-charging Pellion Technologies, an MIT-bred launch focused on the emerging battery industry, has given a welcomed jolt to 625 Mount Auburn St., the longtime headquarters of Star Market now available as multi-tenanted office and research use. Owner KBS Real Estate has secured Pellion for nearly 10,000 sf in the 133,000 sf building that sits midway between Harvard and Watertown Squares.
After a decade in the South End, a growing voice recognition company has moved over to the Hub’s eclectic Back Bay district, taking down 2,500 sf at 607 Boylston Street. Debra Stevens of ITRA/Stevens Group represented Plum Voice in negotiating terms with the landlord, 607 Bolyston Associates, an entity owned by developer Stuart Pratt that was represented by NAI Hunneman Commercial Co. SVP Chris Gotfredson and Stuart Pratt Jr.
A Good Guy Guarantee is a limited personal guarantee that, once signed, legally enables your landlord to pierce the corporate veil and legally go after you personally only in the event that you stop paying rent and refuse to vacate the space.
Purchasing and leasing office space is much like everything else in life – it helps to have a professional on your side.
Martin Levy, CEO of ITRA / Martin Levy Commercial, announced that the company represented Serena Software Europe Limited, a highly valued client of ITRA / Hume Myers Tenant Counsel, Portland, Oregon, in leasing 20,000 square feet of office space located at Abbey View, Everard Close, in St. Albans, Hertfordshire, England for a fifteen year term. The building is owned by Threadneedle Property Investments Ltd. Mr. Levy represented Serena Software Europe Ltd. in the transaction.
TeleCom City is a fading memory, but 200 acres set aside for that ill fated business park straddling Everett, Malden and Medford will soon accommodate promising life sciences company Progenika in a 9,000 sf deal that seems to validate the tri-town revitalization campaign launched more than a decade ago in partnership with New York entity Preotle Lane.
Renewing your lease is a lot like telling a joke: it’s all in the timing. You want time on your side at all times (no pun intended). Typically, if you’re 10,000 square feet or smaller, you want to give yourself 9-18 months whether you’re moving or renewing. That said, the sooner you start looking for a new space, or looking into renewing your lease, the better. Here’s why.
As your lease expiry date approaches, you will need to decide if you want to remain in your current facility, or move to an alternative location. This article attempts to highlight some of the key issues for consideration in dealing with a lease renewal, so that you can achieve the best possible outcome for your business.
There is a clear upside to today’s economy. Commercial tenants should be able to secure lower rents and better leases than they have in years. Whether renewing a lease, seeking to renegotiate an existing lease, or moving into a new space with a new landlord, the environment is right to gain lower rents, better terms, more concessions, and reduce overhead significantly.