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General Landlording & Rental Properties

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Marc Devino
  • Belford, NJ
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Need advice

Marc Devino
  • Belford, NJ
Posted Mar 23 2015, 17:25

Have been trying to negotiate a lease in a shopping center to open a retail store. The store is 2500 and is 16.per sqft NNN. The store has been be vacant for 4 years and nothing was done. The roof leaks and and needs to be completely gutted. Every ceiling tile and sheatrock has water damage. The floor is glued down carpet and the hvac takes up a large back room cause the furnace and air handler is not on the roof. I am set on the location so i need to make it work. The landlord wants no part of spending any money. He gave me a year rent free to gut and vanilla box the store. He also will warrantee the HVAC but i can't do business with the unit indoors. The store has many other issues.

Should I insist that he replace the HVAC for the lease to work.  Do I ask for another 6 months for the cost of the hvac.  That is going to be a lot of money i could use for my own build-out.  The landlord also want three month security (12000) for a destroyed store.    What the going cost to vanilla box and gut??  Should my next move be to just tell him i am going to look at other locations?

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