Reference no: EM133147371

Harris Wang recently took over the management of Bluff Towers, an office building. On reviewing the various leases for the tenants of Bluff Towers, Wang realized that the lease terms were not particularly profitable for the owner. Because of a recent economic slump, the previous manager had leased several spaces to tenants at below-market rates and had paid for extensive remodeling. He had also leased a great deal of space to three large, rapidly growing businesses, all of which were trying to get out of their leases early because they had outgrown their space. Furthermore, because of the rapid growth of these three tenants, parking in the building lot had become a constant problem, and all of the tenants were complaining. Based on this information:

1. What creative solutions can Wang develop to alleviate the problem with the three expanding businesses and the requests for getting out of their leases?

2. What should he do about the resulting parking problems?

3. What should Wang do to prevent these types of problems in the future?