Uncertainty about the economy, about business and sales, aboutthe real estate market, all suggest that companies should enterinto short-term leases as a means of protecting their abilityto remain flexible. For some companies,short-term leases are the right approach. However,when seeking to renegotiate leases as a means of extractingliquidity and mitigating risk, short-term extensions offer littlevalue to landlords. Consequently, in those instances,short-term leases would similarly provide little value totenants.

Like the Phoenix rising from the ashes, uncertainty and chaosbreed opportunity. The greatest elements of wealth are oftencreated in down markets. Those who carefully plan, areprepared to take action, and then execute intelligently, tend toachieve beneficial outcomes while others scramble to survive.

Given the extreme lack of demand for leased office space in mostU.S. commercial real estate markets, landlords are keenlyinterested in attracting tenants, and retaining those they alreadyhave. With the right advanced planning, most landlords can beinspired to structure creative transactions that permit them tocapture new tenant leases and restructure existing leases, therebyincreasing the occupancy and cash flow in their buildings,while supporting the business and flexibility needs of thosetenants.