Category Archives: Leases

Four Reasons Philly Should Thrive After COVID-19 (at New York’s Expense)

The COVID-19 pandemic has brought the Delaware Valley’s economy to a screeching halt. However, there is reason for optimism in our region once we emerge from this crisis. As a general matter, the United States has thrived right after major … Continue reading

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Don’t Overreact to COVID-19 When Your Employees Return to Work

Over the coming weeks, executives are going to be inundated with articles and white papers telling them that, to survive in the post COVID-19 business world, they are going to need to completely change their space, their furniture and their … Continue reading

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How the COVID-19 Crisis Will Impact the Office Market

“Never make predictions, especially about the future.” – Casey Stengel As we all continue our new routines working from home, many of us are wondering if this work arrangement will represent just a temporary blip on the screen or a … Continue reading

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The Looming Landlord/Tenant Divide

As recently as early March, landlords in Center City Philadelphia and the surrounding suburbs were sitting on top of the world.  They were cutting lease deals and asking for rents that were, in some cases, 30% to 40% higher than … Continue reading

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House (Office) of Cards Awaiting With Tenant Build-Out Projects

You signed your lease in January and your current lease expires in November.  Plenty of time to design your space, pull permits and be into the new digs by mid-October with plenty of room to spare.  Everything is going great … Continue reading

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The Best Approach for Negotiating Rent Relief With Your Landlord

Over the past week, we have had numerous conversations with tenants and landlords about the COVID 19 pandemic, its impact on businesses and how landlords and their lenders will deal with tenants’ inability to pay rent.  In these challenging times, we have been heartened by … Continue reading

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The Silver Lining for Center City Tenants

In the early 2000’s Center City was a tenant’s dream. There was close to four million square feet of vacancy in the trophy market alone and landlords were bending over backwards to entice tenants to come to (or remain in) … Continue reading

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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

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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

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