Today we talk with Ben Azulay, principal and executive managing director with Bradford Allen, about such topics as rent deferment and abatement, Blend & Extend options to help landlords and tenants, and dealing with the realities of office space planning given the uncertainty of this COVID pandemic.
In this special episode, we continue covering issues in commercial real estate and ideas to help guide you through the current COVID crisis. Today we talk with Ben Azulay, principal and executive managing director with Bradford Allen, about such topics as rent deferment and abatement, Blend & Extend options to help landlords and tenants, and dealing with the realities of office space planning given the uncertainty of this COVID pandemic.
Key Discussion Points
[00:17] Welcome and introduction by Eric Odum
[00:35] About our guest, Ben Azulay
[00:55] Overview of your firm, Bradford Allen, what you do, and how your firm operates
[02:35] How is your life-changing now at Bradford Allen during this COVID crisis?
[03:27] How are you handling rent deferments and abatements?
[08:37] If the landlord makes a decision to provide a deferment or abatement, is it just forgiven?
[10:48] What is a "Blend & Extend" and how can this approach be used for tenants and landlords to get a win?
[14:39] With uncertainty due to COVID, what have you been hearing in terms of office space planning?
[18:17] What have you heard about how other countries (ahead of us on the curve) are dealing with elevators during COVID19?
[21:22] Your thoughts on, "after COVID, 'office being devasted' and many people will work from home from now on"
[25:05] How can folks get in contact with you?
Principal & Executive Managing Director, Realty Services, Bradford Allen/TCN Worldwide
Since joining Bradford Allen as an associate in 2004, Ben Azulay has made significant contributions to the firm. In 2015, Ben became a Principal due to his hard work, dedication, and vested interest in the direction of the company. While he specializes in representing office tenants in Chicagoland and nationwide, Ben has also had great success representing landlords in a variety of real estate transactions. His expertise in assisting commercial office clients with operational, qualitative, and financial structuring allows Ben to easily identify problem areas and craft smart, client-specific real estate solutions.
Ben handles various projects across the real estate spectrum, enabling him to cultivate a multi-faceted knowledge of the industry. A few of his successful transactions include assisting GrubHub in completing a substantial expansion, in which they nearly doubled the size of their office space; securing over forty office spaces across the country for MedSpeed; and representing Foley and Mansfield, a national law firm based in Minneapolis, Minnesota, while he assisted in the expansion and renewal of their existing office space in Chicago. Ben works with clients across industries including, but not limited to, marketing and advertising, law, healthcare, and technology
As a member of the leadership team, Ben also plays an integral role in the strategic direction of Bradford Allen. He is a regular contributor to the firm’s research and recruiting efforts, and he assumes an influential role in mentoring new brokers along with overseeing his own team.
Ben lives in Lincoln Park with his wife and four children where he enjoys staying active by biking and running. He’s an active supporter of Ramah Wisconsin and American Friends of the Hebrew University (AFHU) and is an avid fan of the Chicago Bears.
Licensed Real Estate Broker in the State of Illinois
Chicago Office Leasing Brokers Association (COLBA)
Active member of TCN Worldwide