Reducing office space in extraordinary times.
About this panel
In this Navigating Uncertainty session, we’ll explore options for reducing or eliminating spending for office space. Katherine Murphy, partner at Goodwin law firm’s real estate practice and Roy Hirshland, CEO and Co-founder of tenant representation firm T3 Advisors, will join us for an in-depth discussion on options for managing lease agreements.
As finance leaders develop a path for their company’s health and survival, they are evaluating every conceivable way to cut expenses. Rent is often one of the biggest line items. Delaying rent payments can help bridge cash flow in the short term, but many companies are reassessing their needs for permanent office space as they downsize and adopt broad-based work-from-home capabilities.
In this session, we’ll hear from real estate experts from the legal and business sides on options for delaying rent payments, renegotiating leases, and the possibility of breaking a lease agreement.
What you’ll learn:
- Best practices in managing real estate cost during a downturn.
- Rights and obligations of delaying lease payments.
- Terms and conditions in a standard lease agreement that offer or restrict options for action.
- How to approach renegotiating a lease and what points of leverage are most effective.
- The process plus the legal and practical implications of breaking a lease.
- Steps companies should take today to create the best options in the future.
About the speakers.
Partner, leader of real estate practice at Goodwin Law
Katherine (Katie) Murphy, a partner in the firm’s Real Estate Industry group and co-leader of its Real Estate Transaction Services practice, focuses her practice in the representation of landlords, tenants, lenders, investors and developers in commercial lease transactions. Ms. Murphy is a LEED Green Associate and has extensive experience negotiating all aspects of lease transactions, including large and small scale leases for office, retail, industrial, laboratory, build-to-suit headquarters locations, medical office, biotech, and data center space throughout the U.S.
CEO and co-founder at T3 Advisors
Roy Hirshland is CEO and co-founder of T3 Advisors, which has represented companies like LinkedIn, HubSpot, TripActions and many more. Roy has helped build T3 into a global real estate firm that inspires companies to think more strategically about real estate and their workplace. For over 25 years, he has counseled executives to think creatively about their company’s growth. Roy is a frequent speaker on the changing dynamics of the workplace and corporate culture, and in June 2014, he was awarded Entrepreneur of the Year by Ernst & Young Global Limited.
CEO and Founder at Airbase
A seasoned entrepreneur, Thejo is the Founder and CEO of Airbase, the cloud-based spend management platform for growing companies. Prior to Airbase, Thejo co-founded Automatic which was acquired by SiriusXM in 2017.