Tenant Representation

Lease Negotiation

We can operate as Tenant’s Agent or Tenant Representative. We have extensive experience representing office and industrial tenants on straight-forward to complex lease and lease renewal transactions. Our fiduciary responsibility is solely to you and we work hard to advance your interests. We listen carefully to understand your needs and work through a proven program to provide creative, flexible and cost-effective solutions. Our clients range from local firms with a single location to Fortune 500 companies with multiple sites. We have crafted many creative lease structures to accommodate a Tenant’s need for expansion, contraction, termination, extensive tenant finish build-out, or other special requirements. We understand commercial leases and lease language and push hard to protect your rights in these important documents. As your Tenant Representative, we provide you with expert advice, advocacy, and service throughout a comprehensive plan of action:
  • Meet with you to understand, in detail, your company’s needs
  • Coordinate space planning services, if required, to accurately establish your company’s space needs, including future growth requirements
  • Exhaustively survey the market to identify all appropriate properties (size, image, location, budget, special requirements), and prepare a survey package for your review
  • Tour with you the most appropriate facility options
  • Using detailed requests for proposals (“RFP”), verify key information and potential lease terms for the target facility options
  • Identify, analyze, and document all significant costs (equalized to make comparisons meaningful) of the target facility options
  • Using detailed letters of intent (“LOI”), clearly document the key business terms of any offer to lease
  • Aggressively negotiate a favorable lease package by establishing a competitive environment between several prospective Landlords
  • Secure expansion, contraction, and termination rights providing maximum contractual flexibility for the future
  • Protect your company’s interests by thoroughly reviewing and negotiating the Landlord’s proposed lease document
  • Provide, if requested, optional project management services to assist with the numerous demands imposed by opening a new office or relocating or expanding a current facility

Lease Renewal

In many situations, renewing your existing leased industrial or office space may be your preferred option. The current building location might suit your employees and clients, and your existing space may work well for your business. Additionally, renewing your lease may prevent disruptions that often accompany relocating a company. However, you should ask:

  • How do you know about other options available in the marketplace, and confirm that you’re getting a competitive lease renewal rate from your Landlord?
  • How do you proceed if you need additional (or less) space when renewing your current lease?
  • How will you negotiate a competitive lease renewal package with an adequate Tenant Improvement (TI) Allowance to update your space with new carpet, paint, or to make other necessary alterations?

Surprisingly, in many cases, the Landlord’s renewal rates and terms offered to its existing Tenants may be less attractive than the rates and terms offered to new Tenants! This is because Landlords know that, statistically, the majority of Tenants prefer not to move, and that many Tenants assume their Landlord will give them a “fair deal.”

When you renew your lease, the Landlord typically spends much less on TIs when compared to a new Tenant. The TI allowances provided to new Tenants can be significant, because new Tenants often require major reconfigurations to a space, as well as updates to carpet, paint, lighting, and other finishes. However, if you don’t need this level of build-out, the renewal rate offered to you by your current Landlord should reflect these lower costs. Additionally, your lease renewal means the Landlord will not suffer any uncertainty or loss of rents. The key to maximizing your leverage in this situation is to create a competitive environment, forcing your Landlord to make a renewal offer that recognizes the benefits your tenancy. Lower costs and lower risk (of vacancy) should translate into lower renewal rates for you!

Landlords often discourage existing Tenants from seeking competent representation when it’s time to discuss a Lease Renewal. We have extensive experience successfully negotiating lease renewals and expansions. We will develop a competitive environment making sure that your Landlord will compete for your business. And we accomplish this in a professional manner that does not damage your relationship with your Landlord. Additionally, in almost every case, your Landlord will pay our fees, just as they will pay the fees of a broker representing a new Tenant.

Call now for a free consultation