Stuck Needing to Sublease and have no Takers?
Jul 10, 2020
Today, office and warehouse tenants who still have their offices closed since March are growing increasingly worried about their lease obligations. With many tenants now looking at the prospect of not going back to their offices until the beginning of next year, business owners are getting desperate and turning to their landlords for a solution.
Many landlords are working with tenants to reduce rent, extend terms, and offer free rent in some cases. However, most negotiations were for 90 days and we’re now looking at a much longer period of time before offices can reopen. Tenants are trying to buy out of their lease obligations, but landlords do not want to take the long-term risk of vacancy or lower rent rates in the future. What most landlords are offering is to work with these tenants to sublease their space instead.
The challenge with subleasing is that most markets remain closed with very little activity. As a tenant, while you wait for the market to open, you still have a lease obligation to pay every month so traditional subleasing is not the answer.
Now, a new service proven to work during the Dot.com “boom and bust” markets of the late 1990s and 2000 is back: TradeAddresses.com.
TradeAddresses.com is a service where tenants of both office and warehouse can market their spaces for lease in a private and secure portal while also posting their desired needs for a future office space. TradeAddresses.com will then find matches and assist in exchanging space with matches through subleasing. If you have 3,000 square feet now that no longer works and need 1,500 square feet, we can find you a match and facilitate a trade. We can even trade your leased equipment and furniture! If you have 10,000 square feet, and now need 20,000 square feet of warehouse space, we can help.
TradeAddresses.com is the place to find your future space to meet your new needs or reduce your financial exposure, getting rid of a portion of your lease obligation to reduce your overall costs.
TradeAddresses.com is simple. Just go to the website, add your current space information, tell us what you need in return, and we’ll do the rest. It’s that easy.
Even if you’re currently subleasing your space now, you can still use our service. If you have not subleased your space, we can represent you subleasing your space to the open market as well as use TradeAddresses.com to find you a possible match.
TradeAddresses.com is FREE to post. Costs are determined only if you complete a trade through TradeAddresses.com, which will include a fee similar to a traditional brokerage fee.
Check us out now! Visit http://www.tradeaddresses.com/
Written by: Hans Hansson
Hans Hansson is President of Starboard Commercial Real Estate. Hans has been an active broker for over 35 years in the San Francisco Bay Area and specializes in office leasing and investments. If you have any questions or comments please email firstname.lastname@example.org or call him at (415) 765-6897. You may also check out his website, hanshansson.com.