Commercial Real Estate

Commercial Lease Letter of Intent (LOI) Basics

In an earlier post in our understanding your commercial lease series, we discussed the value of hiring a broker and briefly discussed letters of intent. We have had many questions about letters of intent recently, so I am taking a quick detour to address this topic in more detail. I hope this post helps to shed light on what a letter of intent is and why it is an important part of understanding your commercial lease.

What is a commercial lease letter of intent?

A letter of intent (LOI) is a document that includes the important terms of the commercial real estate leasing deal and consolidates those terms in writing prior to the commercial lease being prepared. The letter of intent is designed to...

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Commercial Real Estate

A Guide to Leasing Commercial Office Space

Leasing commercial office space often involves a unique set of complexities and elements. Today’s post will boil these complexities and elements down to a very basic level. The goal is to provide a simple guide to assist startups in finding the ideal work space, under reasonable terms.

Typical Pricing for Commercial Office Spaces Generally, commercial office space is leased on a “dollars per square foot per year” basis. For example, you may see lease pricing in terms such as $15/foot; 3,000 square feet. Under this scenario, the lease would be $45,000 per year, paid off in monthly installments of $3,750. The landlord may also require a security deposit, similar to when you rent a residential space.

Useable Square Footage Often, the numbers aren’t as...

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