Howard County Retail Rents On The Rise!

Howard County Retail Rents On The Rise!.

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Look Past The Base Rent For True Occupancy Costs

It happens frequently.  A tenant goes out and finds two similar spaces at just about the same base rental rate, and then begins to compare the sites for location, amenities, and other non-monetary factors to decide which one is the best location for them.  However, in reality leases vary widely in other costs.  Under a NNN (“triple net”) lease, the tenant has to reimburse the landlord for its pro rata share of taxes, insurance, and common area maintenance (CAM) in addition to paying the base rent.  Under a full service/gross lease, the tenant may not reimburse the landlord for anything at all above and beyond the base rent.  So, one $18 per sq. ft. per year lease may actually cost a lot more than the $18 per sq. ft. per year lease down the street.  There are lots of other hidden costs in leases that can cost your company a lot of money.  If you are negotiating a lease, get educated on these items before you spend more than you intended.

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