For a property vacant for 2 years he should take what he can get! In my area, north of Boston, market rents are back to where they were in the very early 2000's. Example: I have a property for lease at 14NNN where the guy across the street is currently locked in at $22NNN with scheduled increases. While I am still on the market, I am not even encouraged I can get him $14. Instead of the lease terms, perhaps your property owner should look at an attractive lease agreement such as a percentage lease. They are getting more popular lately! Check my website for different types of leases.
Keller Williams Commercial
May 7, 2010