Tenants Sound Off on Lease Renewals

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In this month’s partnership between CPE and Kingsley Associates, office tenants reveal what would make them stay and what would make them go.

“It would be nice if long-term tenants were given additional consideration of reduced rates at renewal time. This last renewal experience was frustrating. We are a small company and the increased rates have really made a dent in our budget.” –Industrial, Brea, Calif.

“We were given an allotment for tenant improvements because we renewed our lease. Those improvements are still in process.” –Medical Office, Austin, Texas

“As an airline, the location by the airport is the key. While location is important, we definitely value the property management quality and that’s why we would renew here.” –Office, San Jose, Calif.

“Given multiple factors including pricing and availability of leasable space for our growth amenities, we are not renewing our lease.” –Office, Atlanta, Ga.

“We just renewed. Our only concern is the rent increase. We would have asked for a smaller space had we known it was going to increase.” –Retail, Sugar Land, TX

“Would not renew without considerable re-negotiation, due to ever-increasing operating costs and increasing number of retail vacancies. It is clear some tenants are of higher value to landlord than others.” –Retail, Atlanta, Ga.

“There needs to be better patient parking. Patient parking is the worst aspect of this building and the only reason I would not consider renewing my lease.” –Medical Office, Houston, Texas

“Our space was not available for renewal because of sprinkler installation, which was the reason we are moving to another building.” –Office, New York, N.Y.

“We recently renewed a 3-year lease and now we’re not sure what’s happening with accounting. Communication with accounting is abysmal and we kept getting billed for holdover rent, which makes the finances more confusing.” –Medical Office, Murrieta, Calif.

“As an airline, the location by the airport is the key. While location is important, we definitely value the property management quality and that’s why we would renew here.” –Office, San Jose, Calif.

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