The Challenge
The client identified office space being leased by another real estate brokerage that was relocating nearby.
Because the arrangement involved a sublease rather than a direct lease with the property owner, the transaction required review of the existing master lease and confirmation that the tenant possessed authority to sublease the premises and extend occupancy rights.
The client also intended to complete improvements to both the interior and exterior of the office space, requiring approvals from both the tenant and property owner.
The Solution
Nochumson P.C. reviewed the master lease governing the property and confirmed the tenant’s renewal and subleasing rights before preparing the sublease agreement on behalf of the client.
The firm negotiated the terms and conditions of the sublease while coordinating approvals among the sublandlord, property owner, and client.
Nochumson P.C. additionally addressed issues relating to proposed renovations and property improvements to ensure the client obtained the permissions necessary to customize the office space for brokerage operations.
The parties ultimately finalized and executed the written sublease with the consent of the property owner.
Commercial subleases frequently require review of both the master lease and separate sublease terms to ensure the proposed occupancy arrangement is fully enforceable.
The Results
The client successfully secured the commercial office space for her new brokerage operations in Graduate Hospital.
Since entering into the sublease, Maria Quattrone & Associates | RE/MAX @ HOME has continued expanding and operating as one of the largest real estate brokerages in the Philadelphia region.
