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5 Tenant Considerations Prior to Executing a Lease

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You are the real estate decision maker for your company.  At the end of the day your employees, colleagues and superiors rely on you to provide sound guidance on how your company spends a significant portion of its monthly budget on its real estate.  There are some fundamentals to ensuring that you are mitigating your risk and maximizing your economic opportunity on your next lease or renewal.  Here they are:

 

1.      Make sure you are getting a fair market deal.

Whether you are set to execute a new lease, renew an existing lease or expand or downsize in your current property you need to know if the economics you have discussed with the Landlord (or even agreed to) are fair and reasonable based on the current commercial real estate marketplace in your area.

1)  Lease rate; ensure that the rate and annual escalations you are about to obligate yourself to are in line with where the market is for comparable space in your geographic location.

2) Landlord Concessions;  Again make certain that you are receiving market amounts of abated rent and tenant improvement allowance (don’t think that just because you’re renewing your lease you don’t have the right to be represented and secondly don’t have a right to ask for some abated rent and new carpet or paint in your space)

 

2.      Know (because you ask) about the financial condition of the Landlord and the Property you are about to lease.

Most Landlords ask prospective tenants for multiple years of company financials to fully underwrite a tenant’s ability to perform on a lease.  This is certainly fair and allows a Landlord to make a sound decision when it comes time to spend money on TI’s and marketing commissions.    Given that the Tenant’s financial commitment in virtually all cases is more significant in terms of gross dollars committed than the Landlord’s the Tenant should ask the question “May I see your financials for this property Mr. Landlord? Please show me that you have $XXX to complete the tenant finish work you have committed to me. I would also like to get a letter from your lender acknowledging that your loan is performing

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N Academy Blvd
Sale Transaction

$10M Luxury House Sale in Denver

Jansen, Kaufman & Groothuis PC leased 1,524 SF of office space at 7901 Southpark Plaza, Suite 201 for 2 years. Jeff Brandon and Matt Kulbe of NavPoint Real Estate Group represented

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May 26, 2023
N Academy Blvd
Sale Transaction

$10M Luxury House Sale in Denver

Jansen, Kaufman & Groothuis PC leased 1,524 SF of office space at 7901 Southpark Plaza, Suite 201 for 2 years. Jeff Brandon and Matt Kulbe of NavPoint Real Estate Group represented

Read More »
May 26, 2023

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At NavPoint Real Estate Group, we strive to exceed the expectations of our clients by providing a clear route to success in every real estate transaction. We put people above profits and allow this philosophy to shape our success.

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NAVPOINT REAL ESTATE

CONFIDENTIALITY / NON-CIRCUMVENTION

NON-DISCLOSURE AGREEMENT

NavPoint Real Estate Group (“Broker“) has been retained as the exclusive Broker regarding the sale of the property located at the address noted below.

To receive an Offering Memorandum (“Offering Memorandum“) please read this Confidentiality Agreement and agree to the terms. The details and information contained within the Offering Memorandum were obtained from sources deemed to be reliable. Verification of the information contained within the Offering Memorandum are the sole responsibility of the Potential Purchaser. No representation is made to the accuracy of the information by Seller or Broker. THIS AGREEMENT is made and entered into by and between NavPoint Real Estate Group and “Potential Purchaser” and shall become effective when executed by Potential Purchaser or Potential Purchasers Broker.

A. Commencing with discussions held between their respective representatives the parties have pursued and expect to continue to pursue discussions (the Discussions) relating to the potential sale of:

In the course of these discussions, Seller has disclosed to Potential Purchaser and may continue to disclose to Potential Purchaser certain information of proprietary and confidential nature (“Confidential Information”).

B. Seller will provide to Potential Purchaser certain printed, typed and handwritten materials and other tangible materials containing or relating to Confidential Information (“Documentation”).

In order to protect the Confidential Information, both during the term of the Discussions and after their expiration or termination, Potential Purchaser agrees as follows:

  1. Potential Purchaser shall maintain the Confidential Information in strictest confidence and shall not disclose to any third party any Confidential Information received from the other party. In addition, Potential Purchaser shall ensure that its officers, employees and agents likewise maintain the Seller’s Confidential Information in strictest confidence and that such persons do not disclose such Confidential Information to any other party. Potential Purchaser shall not have the right to use, duplicate, reproduce, copy, distribute or disseminate Confidential Information except for purpose of the discussions and negotiations as needed.
  2. Potential Purchaser agrees to limit access to Confidential Information received from the Seller to its own officers and employees on the absolute need-to-know basis solely for the purpose of the Discussions, and to use the same degree of care in reserving the secrecy of the Confidential Information furnished by the Seller and/or Broker as it uses in preserving the secrecy of its own Confidential Information.
  3. Notwithstanding the conclusion or termination of the Discussions, Potential Purchaser shall continue to fulfill its obligations hereunder for a period of one (1) year from the date of disclosure. Upon termination of the Discussions, all Confidential Information, including all forms of Documentation shall be returned to the Broker, including any copies or adaptations made by the receiving party.
  4. The obligation of Potential Purchaser under Paragraphs 1 and 2 above shall not apply or shall cease to apply to any information which Potential Purchaser can demonstrate by reasonable documentary proof- (a) to have been in the possession of Potential Purchaser at the time it was first disclosed by the Seller and/or Broker; (b) was in the public domain at the time it was disclosed to Potential Purchaser; (c) entered the public domain through sources independent of Potential Purchaser and through no fault of Potential Purchaser; (d) was lawfully obtained by Potential Purchaser from a third party who is free to disclose such information to Potential Purchaser; (e) to have been at any time developed by Potential Purchaser independently of any disclosure from the Seller; or (f) has been in the possession of Potential Purchaser for more than five (5) years.
  5. Potential Purchaser shall not have any right to register any copyright, trademark, service mark or corporate name based upon Confidential Information or otherwise register or claim any right to use any Confidential Information disclosed to it by the Seller without the express written consent of Seller and Broker. Nothing herein, and no disclosure of Confidential Information or Documentation pursuant hereto, shall be deemed a grant to Potential Purchaser, whether by implication, estoppels or otherwise, of any right or license under any industrial property right of the Seller.
  6. The Discussions shall continue until the date on which an Agreement shall have been concluded or the date on which either party shall have given written notice to the other of termination of the Discussions. All obligations of the parties hereunder shall survive any termination of the Discussions.
  7. Each party acknowledges and agrees that the unauthorized disclosure or use of Confidential Information disclosed to it by the other party or any other breach of its obligations will result in irreparable injury to the party, which furnished the Confidential Information. Therefore, each party agrees that the injured party shall be entitled to receive injunctive relief in any legal proceeding instituted by such injured party.
  8. This Agreement shall be governed by, and interpreted and construed in accordance with, the laws of the State of Colorado, USA.

For purposes of creating a binding contract in determining the rights and obligations under such contract in any court of law, the parties acknowledge that a signature reproduced by either digital signature, electronic signature, facsimile or photocopy shall have the same force and effect as an original signature and that the original and any such copies shall be deemed one and the same document. In the event this Non-Disclosure Agreement is submitted electronically, this agreement is provided under the Uniform Electronic Transactions Act – Col. Rev. Stat. §§ 24-71.3-101 et seq. By submitting this agreement, you are confirming your agreement to submit this Non-Disclosure Agreement electronically, and your indication of agreement, along with information provided, will have the same force and affect as if this agreement was submitted manually and your manual signature was provided. You should retain a copy of this agreement for your records.

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