AboutJohn Smiley Expertise I am a commercial lease negotiator who specializes in representing dentists, doctors and other professionals. I have represented every manner of tenant (retail, industrial, office, professional) and only negotiate on behalf of tenants. I can answer questions that deal with commercial landlord/tenant relationships, negotiating factors and strategies, process-oriented questions, and other matters that pertain to commercial landlord and tenant rights and obligations.
Experience I am a commercial tenant representative, specializing in negotiations on behalf of doctors, dentists, chiropractors, and other professionals. I have been a real estate professional for 10 years and have negotiated over 600 commercial lease transactions or 20,000 lease amendments, almost all representing the tenant.
Education/Credentials B.Mgmt. (Finance)
Real Estate License
Question I recently joined a medical practice and am responsible for the buildout of an office within a new development that involves friendly lessor-lessee arrangements, but ownership percentages vary among participants.
It is time to sign the lease for our practice located on street level, but the square footage quoted includes stairwell and elevator space on the ground floor that actually serves future tenants on the upper level.
Have you seen anything like this before, and, "is this fair?"
Answer Hi Al,
So sorry that it took so long to get to your question.
No, it is not fair or usual to include penetrations in the floor plate such as elevators and stairwells into the calculation of rentable area. You easily have negotiating strength by referring the the measurement guides from BOMA (the Building Owners' and Managers' Association) which specifically exclude these penetrations.
