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tenat rep and industrial real estate
New York Business
Commercial Real Estate
October 21, 2002


Double jeopardy

By MATTHEW FLAMM

Firms in the market for sublease space are scrutinizing more than the office fixtures these days. They're also taking a close look at the credibility of the companies they may wind up signing deals with.

Tenants are more willing to take space from a major financial service company than from a technology firm that may not have strong prospects for survival over the sublease term, says James Meiskin, president of tenant representation firm Plymouth Partners, Ltd. If a sublandlord extends a significant upfront concession package, including renovation allowances and breaks on rent, the subtenant "wants to have the comfort that obligations can e met," he says.


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