“Rich Commercial Realty did a stellar job for my practice. I would welcome the opportunity to share how positive this experience was with minimal time involved on my part.”
With 12 months remaining on her lease, Dr. Mary Walton engaged the assistance of Rich Commercial Realty on the advice of her attorney. With escalations over a nine year lease, the monthly rent that the practice was paying had become burdensome. Several questions about space utilization also created an opportunity for review.
After deliberations with the architect and Rich Commercial Realty, it was determined that the space could work, and by extending the lease term, the practice could improve its cash flow over the next six years. Additionally, a personal guaranty was reduced substantially which created an improved financial position for Dr. Walton. The new term was dramatically improved by blending and extending the lease, and utilizing concessions, a lower rental rate, and minimal tenant improvements. Dr. Walton’s practice yielded immediate savings with the new rate taking effect one year early.