Great episode. Will be interesting to see how WeWork structures their leases after the bankruptcy.

Gold for protection silver for protection and investment and uranium rather that's uranium companies like uranium royalty company or uranium energy companies. This is going to be the newest Trend in the next 5 to 10 years.. none of our top AI stocks will last without silver and nuclear power. It's up to you do the research on these companies. Godspeed.

Great commentary on subleases....another 'to do' before entering into a sublease is for the subtenant to read the lease language as it relates to consent....sometimes the landlord can consent OR terminate the lease. So a subtenant could find itself out months of negotiating time, out a bunch of attorney fees and missing out on other opportunities, only to have the landlord kill the deal. Getting the landlord's consent ahead of time, or at least getting their draft consent exhibit or letter, while not always possible, can prevent this.

Has a similar feeling if the All-In podcast. Love it with a higher focus. Glad the KZbin Algo got me here. Might need to finesse the algorithm and I bet this would explode

Gents, love the podcast. Really good discussion on operating expenses particularly regarding capex. I must, however, respectfully disagree with the comments regarding gross-ups. I was a property manager and asset manager working for landlords of office buildings throughout the country for most of the first 20 years of my career. Over the last 19 years, I have exclusively been a corporate real estate advisor (tenant rep) based in the Dallas market area. Gross-ups are necessary even in a NNN structure because the purpose of a gross-up is not to allow the landlord to collect money they haven't spent, it's to more-accurately allocate fixed and variable expenses. If you don't gross-up variable expenses and use the total SF of the building as the denominator, you unfairly charge the landlord for a share of variable expenses that only apply to occupied SF. If you allocate fixed expenses only to the occupied SF, that unfairly charges tenants for fixed expenses. Grossing up allows you to solve this by estimating expenses as if the building were full and using the total SF of the building as the denominator. That will more-accurately estimate the cost to operate an occupied SF and appropriately charge all parties. You might argue that this can be solved just as easily if you use the occupied SF as the denominator for the variable expenses and the total SF of the building for fixed expenses. You would be correct. However, it's often easier to estimate the incremental cost of occupancy than it is to estimate the allocation of the fixed vs. variable portions of expenses. For example, if electricity is $100,000 for a 100,000 SF building that's 50% occupied, how much of that $100k is fixed vs. variable? That's a far more difficult question than estimating the additional cost to provide electricity to vacant useable SF. It's not reasonable to just extrapolate the $100k on a straight-line basis. Anyway, probably way more info than you wanted to read. Keep up the good pod. Thanks.