Receiving a refund for a space shortage
The Client:
A national marketing firm leased 20,000 rsf of warehouse space in Western Massachusetts.
The Opportunity:
Although the tenant had been unaware of the issue, their space was short by 500 to 2,000 rsf at various times during the lease (as amended).
The Process:
RTG did a preliminary physical space measurement as part of the audit and noted a discrepancy. RTG then engaged a licensed architect to remeasure and recalculate the actual square footage for the building and the common areas.
The Result:
| Tenant was credited $76,000 for past overcharges. The tenant also used the information obtained in the audit as leverage to negotiate a favorable lease extension. |
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