EMAIL DETAILS

As you'll recall, the landlord offered us the space next door for the same price per square foot as we have now if we renew our current lease which has three years remaining for two more years. So, we'd lease the new space for five years and extend our current lease so that it is the same five-year term. Price for the remainder of the first year would be approx $5200 a month but we'd get two months free. It would gradually scale up over the five years to the point where the total rent for both spaces would be approx $23,000 in year five.

I talked to the them today and they would give us the same offer if we did four years (that is extend our current space an additional year). If we kept our current lease and didn't extend the lease the rent on the new space would go up.

We need to make a decision this week I believe.

FYI, our current sublettors for the back bay, EnGage, will be vacating the space on December 1. So we have space for our own needs in the immediate. At the same time, I think we would have need for the space eventually and can sublet the space temporarily. Just need to make a decision either way so we can plan. We are only a month out.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
P Consider the environment before printing this email.