Case Study #1:
Establishing a "fully valued" base year expense stop
The Client:
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A small Media firm leased 28,000 rsf in a 35,000 rsf Chicago "west loop" building. |
The Opportunity:
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Their lease stated "...if Landlord fails, during the Base Period, to incur any expenses which Landlord would have incurred had Landlord performed the work or services...which Landlord is required to perform or maintain then the amount of such expenses, whether or not so incurred by Landlord, shall be deemed part of the Expenses..." |
The Process:
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RTG used the lease language and the audit findings to raise the expense stop by $1.03 per rsf by adding back certain salaries and maintenance expenses. |
The Result:
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Combined with other findings, this actual audit saved the tenant more than $200,000. |
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