First Quarter 2015

Issue Thirty-Seven

1Q 2015 Recap

Quick Links

• Overview

• Roles & Responsibilities

• Tenant Representation

• Corporate Account Management

• Relevant Experience

• Publications

Contact:

Scott M. Miller
+1 610 251 5187
scott.miller@cbre.com
Licensed: PA

Rija R. Beares
+1 610 251 5153
valerija.beares@cbre.com
Licensed: PA

James P. Kelley
+1 610 251 5156
james.kelley@cbre.com
Licensed: PA

Michaela M. Malloy
+1 610 727 5911
michaela.malloy@cbre.com
Licensed: PA


CBRE, Inc.
1200 Liberty Ridge Drive
Suite 320
Wayne, PA 19087

Licensed Real Estate Broker 

RE: Philadelphia Suburban Office Market - First Quarter 2015

Time May Be Running Out to Review Your
Operating Expense Statements

Over the last quarter, we’ve noticed a growing trend: increased operating expenses. The increases have ranged from modest to very large and since these costs are a significant expense contributor, it’s important to make sure there are no errors or confusion—both of which we’ve experienced with clients this quarter. Given the lack of internal resources and expertise, most tenants simply pay their bills as rendered which can lead to overpayments year-over-year. 

Your company will be receiving (if you haven’t already) an annual operating expense reconciliation from your landlord. Since there is typically a small window of time to review these statements (90 days), time may be running out to challenge and correct any inaccuracies.

If your company is questioning its recent statement it is important to have your expenses analyzed by one of our lease audit professionals quickly as there is a limited amount of time for review. A lease audit is a forensic analysis of lease terms and related costs ensuring amounts billed are compliant with the intended lease terms.

Our CBRE Lease Audit Group can assist in verifying if your expenses are compliant with your lease agreement. If you have any questions or have need of assistance, please contact one of us and we’ll put you in touch with an audit professional

Our team would like to thank the following clients for their support in the first quarter of 2015:

Please contact us to receive a report published by CBRE Econometric Advisors as well as CBRE, Inc.'s MarketView for the first quarter of 2015. These reports will keep you updated as to how vacancy, rental rates, and employment trends are effecting the Philadelphia Region's office market.

• CBRE Econometric Advisors Market Report • Market Index Brief

We at CBRE enjoyed sponsoring the Philly Women in Tech Summit and Philly Tech Week.