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Prop. 13 Protection Not Implemented
$830,000 of savings
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“You impressed us tremendously while conducting the audit and we appreciate your professionalism throughout the audit and enjoyed working and learning alongside you.”

Denise Rhodes
Chief Financial Officer
Texas Medical Center Corporation

Press Releases

Engineering firm saves more than $3.35 per square foot as a result of CyberLease’s successful audit.

March 17, 2010 – Virginia

CyberLease, LLC, the North American lease audit firm, announced today it completed a lease compliance which served to save its client more than $3.35 per square foot in rental obligations. In representing the premier civil and consulting engineering company on the east coast, CyberLease audited one of firm’s leases in Virginia following a Preliminary Review which revealed sufficient causes to warrant an in-depth audit. During the course of this audit, CyberLease found the new landlord’s accounting practices deviated from those of its predecessor. As a result, the engineering firm’s base year expenses included lower allocations of the project’s property tax costs. Additionally, a cap on controllable expenses had been misapplied in determining the tenant’s annual operating expense obligations. Following the issuance of CyberLease’s audit report, we were able to secure a rent credit equal to the full amount of the audit claim identified in CyberLease’s audit report. Our client received an immediate rent credit equal to a more than $2.00 per square foot, and by correcting the landlord’s accounting methodologies it will save an additional $1.35 over the remaining term of its lease. Jeff Baker of CresaPartners in Philadelphia introduced his long-time client to CyberLease.
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