‘I’ll Show You Mine, You Show Me Yours’: More Office Tenants Looking At Owners’ Books Before Signing Leases
July 24, 2023 | Miriam Hall | Bisnow
It’s traditional in lease negotiations for the owner of an office building to ask a prospective tenant to show proof that they are in good financial standing and can be expected to pay rent every month.
But the public prognostications comparing office real estate to an “apocalypse” and a “Category 5 hurricane” haven’t escaped the companies in the market for office space, leading to an increasingly common role reversal: tenants asking landlords to open up their books and provide protection in case they go under.
