Author: David Marino
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Reducing Real Estate Expenses by “Restructuring” a Commercial Lease
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When the business community begins to open back up this year, many business owners and executive teams are going to look around at all of their excess space remaining from reductions in force and team members working from home post-Covid and wonder what to do about it. With the business community considering how to rebuild their organizations,…
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When a tenant signs a lease, the business owner often adds up the rent payments under the lease and thinks that is the total extent of the obligation. However, there are “Operating Expenses” in every lease that are effectively additional rent to the tenant. These Operating Expenses are the taxes, damage and destruction insurance and common area maintenance expenses that…
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This last quarter, the modest commercial real estate recovery that began in 4th quarter, 2010, where 2,134,000 net square feet of combined office, industrial and lab/flex space came off the market, hit a huge “pause.” While a bit more net inventory of space came off the market this first quarter, and sublease space on the market continued to inch downwards,…
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There’s new zip and energy at the reconstituted downtown commercial brokerage firm Hughes Marino. With founding partner Craig Irving gone to form his own company, Jason Hughes and David Marino stayed on with their 15 employees to plan for growth to match a market on the comeback. They hope to add two more employees in coming weeks, bringing their staff…
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San Diego has a highly diversified economy, a primary driver of which is the technology sector and its ongoing creation of new companies and jobs. Over the last 20 years, Sorrento Mesa has developed as the “center of gravity” for San Diego tech companies. With an abundance of cheap office space, free parking, and R&D lab space, Sorrento Mesa had…
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For over a century, commercial real estate brokers have had their familiar “For Lease” signs on buildings, marketing vacant space for building owners. Even deeper in their service offering to landlords, these firms manage the buildings, help with financing, co-invest in the real estate (and often own the real estate themselves) and advise property owners in the purchasing and selling…
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Looking back, 2010 turned out to be the commercial real estate year that we forecasted it would be — it hit bottom hard and has stayed there. It remains a great time to be a tenant, and in the approximately 180 leases that The Irving Hughes Group transacted for over the last three quarters, representing almost 3 million square feet…
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2011 kicks off a new decade during which many companies will experience radical changes in the way they organize the workplace to conduct business. There are three major trends that will fully develop during this new decade of workplace innovation. There will be fewer private offices in the corporate culture. The baby boom generation, and generations before, considered private offices…
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What is a Sublease? Subleases are suites in a building, or an entire building, that a company has leased and no longer needs. The company leasing the space might have been acquired and the business operations reduced, in which case the acquiring company is seeking to sublease some or all of the space. More often, a company has downsized its…
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Today’s commercial real estate market is softer than it’s been in 15 years, creating a fantastic opportunity for commercial real estate tenants looking to expand, relocate or renew leases. So how do executives from the smallest business owner to the largest head of corporate real estate take advantage of today’s market conditions? I still feel strongly that the market is…