Commercial Real Estate Free rent vs Fixturing period
Filed Under Business and Life, Market Info · Tagged: commercial real estate, Fixturing period, Free rent
I recently had a offer change from a landlords construction turnkey solution (landlord builds the tenants space at their sole cost) to an “as is / lowest rent” scenario where the tenant is prepared to do the work. Two months of gross free rent was offered in compensation for the switch. What the landlord failed to mention is those free months were also part of the construction timing and not necessarily free time to operate their business. Watch how the fixturing and early occupancy clause are worded so that if you are doing your own construction you are compensated appropriately.
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