Tenant Representation
Venturing into the market on your own will cost you time and money. You need a dedicated tenant representation professional on your team long before you get to the negotiating table. We work to understand our clients’ objectives as we perform a detailed needs and wants evaluation. We focus on major issues such as where is your organization headed, are you expanding, where is your optimal location and what image is best suited for your business? This up front effort will ensure you make the correct decision before you sign that lease.
New Space Requirements
If your current space is inadequate, you need to move. This is where we follow our time proven methodology. We survey the market and identify properties that meet your criteria. We look beyond rental rates and evaluate factors as the surrounding area, building systems and functionality, operating expenses, current tenant compatibility, current tenant satisfaction and stability of the landlord. We leverage your deal from a position of strength. We coordinate negotiations. We monitor the build out. We’re there when you move in.
If your current space is satisfactory, moving for marginal savings might not be warranted. However, if through a comprehensive site selection process, the financial and lease analysis indicate that you can realize better terms elsewhere, it may be time to move on. Occupancy costs are often your second largest fixed expense.
Renewal Representation
Unfortunately many landlords treat renewing tenants as a captive market. The fact is, most renewal offers are inferior to what new tenants receive. Often tenants assume that as a result of their faithful performance that they have built up goodwill and that their lease will be renewed on reasonable terms. When it turns out that the landlord’s proposal involves substantially higher costs than anticipated, many tenants suddenly realize they haven’t allowed enough time to determine if a better alternative can be negotiated elsewhere. As a result, lots of tenants both large and small often end up swallowing a bad deal. Our extensive experience in assisting renewing tenants often results in our clients making a deal better than market because we make sure the landlord understands the options we are evaluating in the marketplace as well as the substantial costs they will incur should you vacate.
Buyer Representation / Lease vs. Buy Analysis
If you have a stable business and you know you are going to remain in the same location for ten years or more it may be a good idea to purchase a property. If you can make a below market purchase, that coupled with tax benefits and potential appreciation can be more advantageous to the owner than leasing. It is a matter of understanding the costs of buying a facility and comparing that to the costs associated with leasing similar space. Specialized uses with unique infrastructure (manufacturing) are generally better off buying their space. Interchangeable uses (distribution, office, retail) can usually be leased cost effectively.