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Join the Philadelphia Department of Commerce's Coffee and Commerce series for a panel discussion on navigating commercial leasing in Philadelphia. Whether securing your first commercial space or optimizing your lease, gain key insights on evaluating terms, negotiating deals, and aligning your commercial space with business goals while remaining cost-effective.
A lease can open the door to exciting new business opportunities, or it can lead to getting blindsided by unexpected expenses or liability, or to losing your business altogether.
Avoid leasing landmines on the road to business success. Consider these five key issues before signing a lease: Lease Term; Commencement; Condition of the Premises; Rent, Increases and Additional Costs; Right to Sublet or Assign.
Leases on more than 265 million square feet of commercial space are set to expire in 2025 (Source: Trepp Report). This includes 100 million square feet of industrial space, 85.5 million square feet of office space, and 58.5 million square feet of retail space. For landlords, lenders, and investors, these lease expirations will likely impact cash flows and valuations differently depending on property type.