8 Simple Things You Should Do Before Leasing Office Space

Whenever you are considering new office locations, your tenant representative is going to be providing you with a tremendous amount of information on various building options. Most of the obvious selection criteria such as economics, location, quality of the building, ownership and proposed space, as well as the various amenities of the building will be comprehensively evaluated. Your advisor should have a good knowledge base about the nuances of a particular building. However, here are 8 simple things you should do on your own before making a decision among your final building candidates; after all, you are the one who…
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A Simple Guide to Leasing Commercial Real Estate

Whether you're getting ready to move to a larger office space or planning to add a second, third, or fourth location to your portfolio, there is a lot to consider when it comes to commercial real estate leasing. Keep the following tips in mind as you move through the process to ensure the best outcome and make the process as smooth as possible: 1. Start the Process Early The search and negotiation for commercial real estate takes much longer than most companies think. Ideally, depending on the size of your requirement, you should begin thinking about your next move at least…
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Considering a Relocation? A Guide to How Much Time You Need

Market conditions, the size and complexity of the transaction, and option notice dates can help determine when to begin the process of evaluating your office lease. Time should be your ally, not your enemy during negotiations with any landlord. Landlords know that other buildings you’re considering will most likely have to create a space plan, get construction pricing, agree on a rental rate, prepare and execute a lease document, apply for construction permits and prepare the space for occupancy. This is, at a minimum, a 4 to 6 month process. So a tenant that waits until there are only six…
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Explore Your Alternatives Before Exercising Your Lease Renewal Option!

Each lease expiration should be viewed as an opportunity to explore and develop alternative space options. Only after an exhaustive search can the decision to either renew or relocate be made with confidence. Needless to say, this can be a lengthy process which should start well in advance of the lease expiration depending on the size of the requirement. If your first choice is to renew, this process will provide the much needed leverage you will need when negotiating with your current landlord. Most commercial leases typically run between 5-10 years. In well negotiated leases there are provisions to the…
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