Typical Concessions for landlord early termination of Commercial Lease

[Genna Golden]

HI, I have a commercial property with a master tenant and would like to terminate his lease early in order to develop the property. What would a typical concession look like? What is it based on? The termination date is flexible but he would need to NOT resublet one of the commercial units when current tenant vacates next year. My timing is flexible.

[Kristi Kandel]

Quote from @Genna Golden:

I control/own the property and want to redevelop. He is master tenant and has one other lease in place. He has one vacant unit which he could lease out and has his own office space in one unit.

 10-4 then yep what you're doing to come up with a solution to help them relocate so you're redevelopment can still move forward is good. Especially in this space everything is negotiable and likely having a frank conversation with them since they are a developer and understand the industry nuances. I'd also approach them in the context of what are their future goals. They might not want a like for like situation and maybe during the conversation something will come up that helps you help them shape their ideal future and realize your space isn't going to get them there. Then maybe they will be much more willing to move somewhere new and they might lead that effort.   It's a lot of variables but if your redevelopment makes sense for you to do in this economy then it's definitely worth pursuing and trying to fit the pieces together.    If you ever want to chat in more detail on the project offline shoot me a DM and we can setup a google meet call!