Take a Look: It Might Be Time to Renegotiate
- Jeff@CEGspaces
- Jul 10
- 1 min read
Whether it’s time to renew your lease or not, it may be a good time to take a look and see if you should renegotiate. As commercial lease expenses continue to climb in the Twin Cities, you may gain three potential benefits by renegotiating:
1. Free up future cash flow by locking in a better rate then you make get from waiting.
2. Right-size or expand your current space to best suit your company’s needs, situation, and size.
3. Gain access to a tenant improvement (TI) allowance to renovate your current space and best meet the immediate needs of your organization.
Your first step in renegotiating is to evaluate your business position as tenant. The second is to get a broker on your team to give you a leg up during negotiations. A commercial real estate broker can help you examine the current CRE market, understand your current lease parameters, and negotiate a better lease agreement. Brokers are experts in the process. They know market conditions and current concessions landlords in your market are willing to give. Bottom line, owners want their buildings occupied.
Jeff Salzbrun is the owner/broker of Commercial Equities Group (CEG). As a veteran-owned real estate brokerage, CEG has been involved in thousands of sale and lease transactions, ranging from single offices to 250,000+ square foot buildings. At CEG, we get your deal done. We know space, and we know the CRE business.
