Opening Note: Why I Started Tenant Talk
If you’ve ever tried to make sense of commercial real estate headlines, you know how fast the noise can drown out what really matters to business owners. Tenant Talk was born to cut through that. Every issue delivers the same perspective I bring to my clients at Cresa — clear, practical insight on what’s happening in the market, why it matters to occupiers, and how to use it to your advantage.
There’s no fluff here. Just real talk about leases, timing, incentives, and strategy — so you can make smarter decisions about the space that powers your business.
Each issue will include quick market insights, curated articles worth reading, my take on what they mean for tenants, and the occasional story from behind the scenes of real-world deals. My goal is simple: help you make more informed, confident, and profitable real estate decisions.
If you find it valuable, feel free to share it with a colleague or fellow business leader who might benefit — and welcome to Tenant Talk.
BIG NEWS: Cresa Expands: Our Acquisition of Fischer
Cresa has acquired Fischer, a respected occupier advisory firm — growing our national footprint and deepening capabilities across markets and industries.
Why this matters to you: Bigger isn’t automatically better, but “smarter and bigger” is. You still get boutique-level attention — with national tools and a deeper bench when your strategy calls for multi-market comps, portfolio reviews, or specialized analysis. In short: more expertise, same occupier-only focus.
→ Announcement: CRESA Acquires Leadings Occupier Advisor Firm Fischer
Lead Insight: Why Occupier-Only Representation Is a Competitive Advantage
The gist: Many large CRE firms sit on both sides of the table (landlord and tenant). An occupier-only model removes conflicts and keeps every recommendation aligned with your business outcomes — not building ownership goals.
What it means for you: Clear incentives = cleaner advice. When your advisor isn’t juggling landlord relationships, you get more negotiating leverage, tighter economic terms, and deal structures that serve your business first.
My take: At Cresa, we wake up with one job — protect the occupier. That means better intel on concessions and TI, earlier read-through on landlord risk tolerances, and more creative paths when a “standard” deal doesn’t pencil. If you’re renewing or relocating in the next 6–12 months, the difference between dual-agency and occupier-only can be real dollars.
What We’re Reading
1️⃣ JLL reports that hybrid strategies are reshaping corporate portfolios — but here’s what that actually means if you’re the one signing the lease.
Everyone’s still pretending there’s a one-size-fits-all “return to office” playbook, but the truth is most companies are just trying to survive the experiment. The takeaway? Hybrid is here, but your lease shouldn’t lock you in like it’s 2019.
My two cents: If you’re unsure how your team will actually use space in the next 18 months, bake flexibility into your deal. Sublease rights, shorter terms, expansion/contraction options — that’s your real hybrid strategy.
2️⃣ Colliers calls this the “flight to quality” era, but for tenants, it’s really a race for leverage.
There’s still a window where you can trade up into better space at yesterday’s rent. The catch? Premium space is getting picked over, and landlords are realizing the “fire sale” era won’t last forever.
My take: Don’t confuse “flight to quality” with “panic to sign.” Take your time, know your comps, and make sure the shiny lobby doesn’t distract you from the deal math.
3️⃣ CBRE’s 2025 Occupier Sentiment Survey says optimism is back in office portfolios — but let’s be honest, optimism looks different when you’re the one cutting the rent check.
Landlords are interpreting “stabilizing attendance” as an excuse to start tightening terms again. Some are even pricing future rent growth into renewals that haven’t happened yet.
Here’s the move: Use that optimism against them. If your landlord’s chirping about market strength, ask for a longer free-rent period or push for higher TI — call it your “confidence discount.”
Pro Tip: Start Your Renewal Like It’s a Relocation
Even if you plan to stay, run a real process. Get comps, test the market, and use outside options to build leverage. Landlords respond differently when they know you have credible alternatives — and your TIs, free rent, and escalation caps will show it.
Need a Second Set of Eyes?
If you’re staring at a renewal letter, a relocation idea, or a “does this pencil?” napkin math — hit reply. I’m happy to gut-check numbers or outline your options so you can move forward confidently.
Meet the Advisor
Hi, I’m Anthony Toth, Vice President at Cresa Detroit. After 16 years on the owner side — investing, developing, operating, and acquiring commercial real estate — I’ve taken that experience to where it belongs: advocating for the people who actually use the space.
I’ve lived every side of a deal. I know how landlords think, how investors underwrite, and how operators make a building work (or not). That perspective gives my clients an edge — because when I sit across from an owner, I already know the levers they’ll pull and how to structure the deal to your advantage.
At Cresa, we exclusively represent occupiers — never landlords. When you work with me, you’re getting more than a broker; you’re getting an advisor who understands the full real-estate life cycle and how to align it with your business goals.
🧭 CRESA Resource Corner
Tap into practical guides and insights from the world’s leading occupier-focused real estate firm:
🏢 Real Estate for the Life Cycle of Business
📍 Project Management – U.S. Services
🌎 Project Management – Global Services