here is the counter offer,
Chris
I’ve attached your Proposal. The response I received from the Landlord is below
Rent Rates: $1.20 per sf
Base Rent Increases: Base rent shall increase $0.20 per sf annually for the initial lease term.
Months 1-6 Base Rent $0.00 plus NNN
Months 7-12 Base Rent $2,250.00 plus NNN
Months 13-24 Base Rent $2,625.00 plus NNN
Months 25-36 Base Rent $3,000.00 plus NNN
Months 37-48 Base Rent $3,375.00 plus NNN
Months 49-60 Base Rent $3,750.00 plus NNN
Term: 60 months with (2) 5 year options at then market rate
Rent Abatement: 6 months
Commencement Date: August 1, 2010
Occupancy Date: August 1, 2010
Prepaid Rent: $2,250.00
Prepaid NNN: $562.50
Security Deposit: $2,250.00
Tenant Improvements: Will be completed and paid by Tenant.
Landlord to Warranty Systems: Landlord to warrant the HVAC system for one month after Commencement/Occupancy Date. No exceptions for significant repairs as the Landlord maintains the roof. The plumbing, grease trap, hood ventilation and electric are tenant specific.
there is a few things I am not going to go for
- the rent needs come down in this market no one is doing anything
- market value needs to be base off of consumer idex this is where landlords try get business that become succesful, they rasie the price to high to stay in business
- Rent Abatement needs to be atleast 10 months it will take 3-4 months just to get open
- still a lien on the spot from the last tentant at the elctrical company
this is starting to get fun now,they say the hardest part is getting the place open should be a good challenge
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