August 2008
In The Spotlight:Strategies in Tenant Office Lease Renewal Negotiations
By Doug Damron and Elizabeth Cooper
As tenants reconsider and update office space needs, it is imperative that they proactively develop a strong renewal/relocation negotiation strategy to maximize their future rights and benefits. Unfortunately, many tenants wait too long to focus on space needs and assume their lease will be renewed on reasonable terms. If a tenant waits until its notice period is upon it before it assesses its needs and develops a strategy or looks at the renewal rights in its current lease, it may become a “captive tenant” forced to negotiate from a weakened position in the market.
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