Tenant Services
Page Content Summary
- Tenant Representation
- Existing Lease Assessment & Abstract
- Space Utilization Analysis
- Proposal Negotiations
Tenant Representation
ten•ant ~ rep•re•sen•ta•tion
Definition:
- A tenant representative is an expert in Corporate Real Estate who protects the interests of the tenant. We have the expertise, market intelligence, network, and savvy to negotiate the best terms.
Our approach:
- We are fiduciaries. We work in YOUR best interest. We help you select the best location and negotiate the best terms in the market. We look ahead of the market trends and stay knowledgeable in our industry. We do this to provide you with efficient space solutions that help your business succeed.
Important for you:
- All Reps are not created equally… Our brokers have decades of experience.
Existing Lease Assessment
iɡˈzisting ~ lēs ~ əˈsesmənt
Definition:
A lease abstract provides a concise analysis of lease documents in a format that can be easily understood. This consolidated material makes referencing important information an ease in the future.
Our approach:
- We review your current lease terms. We evaluate your needs and projected growth, compare that against market trends and investigate options that best fit your business in today’s environment.
Important for you:
Lease Abstract typically consists of :
- Property Address, Premises (suite #, etc.)
- Lease Commencement & Expiration Dates
- Rentable Area (sq. ft)
- Tenant’s Pro Rata Share- The percentage calculated by dividing the rentable area of the Premises (numerator) by the rentable area of the Building (denominator), and expressing the fraction as a percentage.
- Base Rent- Typically shown per year. Ex. 01/01/2023-12/31/2023, 01/01/2024-12/31/2024… This is important if a scaled discount structure has been negotiated.
- Lease Term (total months of lease) & Gross Lease Amount total.
- Rental Abatement (when first payment is due).
- Operating Expenses and landlord notice due date.
- Security Deposit and when due back to tenant.
- Guarantor(s) if applicable.
- Landlord’s Notice Address and Copy to Address if applicable.
- General Counsel address.
Space Utilization Analysis
spaz ~ yū•te•le•zā•shen ~ anal•y•sis
Sq. Footage Calculations Definition:
For real estate purposes, square footage calculations are typically calculated for the following: Usable Square Footage, Rentable Square Footage and Gross Square Footage.
- Useable Square Footage – Amount of space that a commercial building offers for a specific tenant.
- Rentable Square Footage – Amount of space that a tenant can occupy and % of common area the tenant can use.
- Gross Square Footage – Measurement of the building in its entirety.
Our approach:
Helping you determine the efficient, cost conservative square footage and layout for your success.
- Our goal is to place your business in the best suited and most cost-effective space. Not paying for unused space, but also considering your future growth goals.
- With our “Office Space Calculator” we break down the usable and rentable square footage for you, to determine the best space and utilization.
Important for you:
- Many clients come to us and say they need (blank) Sq. Feet of space. They may base that off their current location, what they have seen from competitors, or what they Googled about occupational sq. ft. usage per employee.
- Our expertise with various industries and our network of specialty experts, work with you to understand your true needs, workflow, usage, and goals. Doing this analysis can save you frivolous expenditures on wasted space. Also, it can avoid selecting the wrong property that you find yourself needing to move out of in a year…
- The three measurements listed above (Usable Sq. Footage, Rentable Sq. Footage and Gross Sq. Footage) are crucial to selecting the right property for you. Let our analysis and space calculator find the best space for you.
Proposal & Lease Negotiations
pruh–poh-zuhl ~ & ~ ni-goh-shee-ey-shuhns
Definition:
A lease abstract provides a concise analysis of lease documents in a format that can be easily understood. This consolidated material makes referencing important information an ease in the future.
Our approach:
We take all options and organize the information for you to easily digest and make an informed decision.