Contributing Author: Levi Steier
As with any industry, Commercial Real Estate (CRE) vocabulary can sometimes be intimidating for the inexperienced. If you are starting a new business or considering investing in CRE, your interests would be best served by gaining some insider knowledge.
While you should always consult an experienced commercial real estate broker and retain their services, having a baseline understanding of some key terminology and concepts will improve your experience, make you more comfortable, and inform your decision making as you work toward a deal that is right for you and your needs.
- Expansion Rights – The legal right given by a landlord to a tenant to occupy additional leasable area in a building in the future.