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Overview

What's Typical

Breaks

After 2 to 3 years with 6 months' notice

Delivery State

Shell and Core

Escalation

3 to 5% per year or indexed to the US CPI

Fit-out

Tenant pays

Free rent

1 to 3 months

Renewals

Negotiable and typical

Rent basis

Net

Right to sublet

Very Rare

Security

For any tenant: 3 months' rent or 1 to 2 months' rent for a short lease

Tenant broker

Tenant pays

Transparency

Very little transparency on market transactions and activity

Term

3–5 years typical

Offices

Istanbul +90 212 259 3629