Commercial Landlord changing offer after I agreed to their offer. Suggestions?
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[{"id": "hlgoor9", "text": "Hire a tenant representative. They get paid by the landlord and because they interact with so many owners/tenants, landlords have to behave correctly with them so they continue to get business. The shopping center group has a lot of good retail tenants reps in Atlanta.", "replies": [], "depth": 1}, {"id": "hlgs3p3", "text": "Not knowing ANY of the important details like your remaining lease terms and the demand of that particular market and what % of the building you occupy\u2026 have you considered buying the whole property?\n\nIf it\u2019s not in an overpriced market, and you could pay the mortgage with what your future rent would be in the bigger space AND it sounds like the owners could be motivated having not brought in any new tenants recently\u2026 think about it some at least!", "replies": [], "depth": 1}, {"id": "hlietay", "text": "It could very likely be a way of telling you \u201cno\u201d to the unit. Maybe they\u2019ve changed their minds about you or your use and they\u2019d rather jack up the rent unreasonably than tell you the real reason. In my view this is a message that they don\u2019t want you moving.", "replies": [{"id": "hlis08v", "text": "Absolutely, rather than moving it would actually be expanding into the space directly next to my current space", "replies": [], "depth": 2}], "depth": 1}, {"id": "hliw8ga", "text": "You left out some details that would help us in evaluating your situation. Was the initial offer in writing or oral? What is your retail product? How big is your space, and the space you are considering for expansion? How long is left to run on your primary lease and do you have an option to renew there? Is it a NNN lease? What would happen if you moved the whole shebang to something larger with a longer lease? Do you qualify to buy under 504?\n\n If you are doing well as a retail merchant and expect to continue in this field and expand you should consider having your own tenant representation. \n\nAs you can see by reading this sub there are lots of people in CRE looking to get ahead, and one good way is to build a portfolio of clients whose businesses are growing and may soon be prospects to buy in fee. Shop for representation, good representation gives you leverage, adds experience and knowledge you don't have (yet) and commission is usually (not always) paid by the landlord. Good luck.", "replies": [], "depth": 1}, {"id": "hlk0ct6", "text": "If there is no lease, then you are likely SOL unless you seek a remedy in equity which even then will take significant time and money if you can even get it. Even if you do get it on the off chance why would you go into business with those people? It is like having a child with a bad partner. \n\nRecommend you interview a couple of tenant brokers that specialize in your specific asset class which sounds like retail. Their knowledge will save you significant time or at the very least tell you what your options are.", "replies": [], "depth": 1}, {"id": "hln5y57", "text": "I agree with u/lucky_deer , for whatever reason you are being told \"no\". Maybe they are positioning the property for sale or other tenants and want a different tenant mix, or maybe they can't afford the TI - in any case it doesn't matter. I'd have an experienced attorney read your existing lease to start thinking about options. Absent a right of first refusal or expansion rights you may just have to ride out the existing term while you look for replacement space nearby.", "replies": [], "depth": 1}]