Is recasting a lease normally something that occurs to corporate executives?
Husband: It may or it may not, depending on whether they approach real estate decisions strategically. Typically, real estate brokers have to approach executives and explain the process, show them where the market is today versus when they signed their lease and show them the savings that can be affected by recasting. Before the market went soft over the past couple of years, the early recasting or renegotiating of a lease really wasn’t an alternative. But today, a company can save a significant amount by recasting leases that have been in place for five to 10 years. Canvasser: Because real estate is one of the largest overhead costs, it’s an easy way for companies to immediately reduce operating costs and overhead. Brokers can do a full lease analysis, which involves reviewing major terms and conditions, operating expenses and additional costs. They can show executives how the market at that time affects lease rates and conditions. What are the benefits of recasting to tenants? Husban
