Leasing Commercial Space

Posted by: Frank W.

 

Start by getting out your lease and find out when it expires. See if there are any options or provisions to remain past the expiration date.   Once you know when the lease expires, consider whether your space is meeting your needs. You could be more efficient in a smaller space, or find a convenient location you would prefer. Then, get in touch with REALTY EXECUTIVES so we can discuss the real estate market, your alternatives, and explain the process of tenant representation.   Keep in mind that Landlords deal with leases all the time, while most tenants deal with it once every three to five years. So it is definitely a smart for a tenant to work with an experienced commercial broker. Even if you are considering a renewal.   Keep in mind that it takes time to negotiate a commercial lease.  A smaller tenant can usually make the decisions within a relative short period of 3 to 4 months prior to the expiration of the lease. The larger the square footage requirement the longer it takes to survey the market, view properties, present the lease proposal, negotiate the lease proposal, tenant improvements, sign the lease, complete any improvements to the space and move in.  It may take several months from start to finish.   An experienced commercial real estate broker knows the real estate market and can guide companies through the entire process, help coordinate all those involved including architects, attorneys, contractors, property owners, space planners, furniture vendors, and equipment companies to help make the move as smooth as possible.   Sometimes the best choice is not to relocate and to remain in your current location. Then you should negotiate with the property owner for improvements to make the space more efficient. I can also help tenants renegotiate leases through the tenant representation process.   Work with EXPERIENCE to obtain the greatest benefit. We help companies make the right leasing decisions.

Last updated: 07.21.2010 11:58 AM