Does the lease reference $7.50/sf or the total monthly lease payment? In either case I would think you should be able to explain that there was an understanding that there was x amount of “usable” square feet. Now that it has been determined that this is not the case, you are still willing to abide by your commitment @ $7.50 per “usable” square footage. If the lease shows the actual calculation your position should be stronger though. Also, the lease may provide for a remedy upon dispute (mediation, etc). Also, if you were attracted to the preoperty by a newspaper advertisement, try to get a copy of the ad (even if you have to go to the library for the back issue), it will only increase your position.
Commercial Office Space Sq Footage question - Posted by Dee Dee
Posted by Dee Dee on February 24, 2010 at 08:45:22:
need some advise: Looking to lease some office space that was advertised at a certain sq footage of usable space. Negotiated off of the amount that was given. Before any lease was signed the actual sq footage was checked and it is a lot less then what was advertised. Basically we negotiated about $7.50 per sq on the old numbers. The actual size makes it $9/per. Is there any recourse for this?
Re: Commercial Office Space Sq Footage question - Posted by Brian (NoCA)
Posted by Brian (NoCA) on February 28, 2010 at 14:35:28:
The usable space might differ from the rentable space, depending on the configuration of the common areas. Generally, usalbe space is that space which is contained within the unit’s walls and that the tenant has complete control over. Rentable space is usable plus a pro-rata share of common area space. BUT, these definitions vary from market to market, and standard methods of charging space also differ. So, ask you landlord exactly what space is included in that rate.