Comprehensive Approach to Commercial Real Estate Consulting

 

Whether your business or organization is planning to relocate or to renew your existing lease, I can provide you with the market research necessary to make an informed decision. My comprehensive approach to commercial real estate consulting includes establishing your real estate criteria, surveying the market, analyzing select properties further, and negotiating the lease at your direction.

 

Establishing Criteria

 

Help your business or organization establish its real estate criteria by:

  • Understanding your day-to-day operations and particular requirements.

  • Suggesting factors to consider in determining criteria

    • such as client and customer convenience; access to skilled employees and services; and proximity to public transit for location criteria.

  • Considering current and future real estate requirements.

  • Recognizing your business or organization’s budget throughout the leasing process.

  • Identifying the location, property, space, and economic criteria with you.

 

Surveying the Market

 

Conduct thorough market research:

  • Identifying all properties that satisfy your criteria, regardless of the listing agent or landlord.

  • Comparing these properties in a Market Survey report.

  • Adjusting both operating costs and tenant improvement costs across properties to account for varying levels of service and landlord standard improvements.

  • Maintaining your business or organization’s anonymity by requesting information on an undisclosed basis.

    • Reducing media, union, and political exposure; possibly reducing competition from other potential tenants; and allowing you to consider other locations before informing your current landlord.

  • Developing resourceful strategies to satisfy your real estate criteria, in addition to standard solutions.

 

With the Market Survey report, you will have the necessary information to select properties for further analysis.

 

Analyzing Select Properties

 

Assist you in analyzing your selected properties by: 

  • Arranging appointments to view the properties. 

  • Viewing the properties with you. 

  • Obtaining detailed site and building information for your review. 

  • Discussing the history and other potential issues of each landlord and property. 

  • Preparing a detailed Lease Cost Analysis for each premises; calculating the total estimated cash flow for each year based on net rent, estimated full service operating costs and taxes, parking costs, and any tenant inducements, such as free rent, gross free rent, free fixturing period, or improvement allowance.* 

 

Based on this technical, economic, and subjective data, you will choose the most suitable premises to lease and designate an alternative. 

 

*A Lease Cost Analysis is based on verbal information from the listing agent or Request for Proposal (RFP) responses; a RFP asks potential landlords to address specific terms for the premises, however, soliciting RFPs is not the optimal strategy in many circumstances. 

 

Analyzing Proposal Responses

 

Prepare detailed comparative reports from the RFP responses, including:

  • Summary of Technical Property Data

  • Economic Analysis

  • Comparison of Selected Properties

 

Based on this technical, economic, and subjective data, you will be able to compare and analyze each premise to choose the most suitable premise to lease and designate an alternative.

 

Negotiating the Terms and Conditions of Lease

 

Assist you in securing your choice premise under favourable terms and conditions by:

  • Establishing a negotiating strategy with you.

  • Negotiating on your behalf at your direction.

  • Preparing the Offer to Lease and the Lease Agreement with tenant oriented language.

 

These commencement clauses demonstrate the benefit of tenant oriented language.

 

With this standard commencement clause, the tenant would begin paying rent to the landlord on the Lease Commencement Date even if the landlord failed to complete the leasehold improvements and the tenant could not use the premises:

 

The term of the lease shall be for 5 years and commence on Lease Commencement Date.

 

With a tenant oriented commencement clause, the tenant would not pay rent until the landlord had completed all leasehold improvements and the tenant could occupy the premises:

 

The term of the lease shall be for 5 years and commence on the 1st day of the month following completion by the landlord of the leasehold improvements but not earlier than Lease Commencement Date.

 

Throughout the leasing process, I will offer impartial recommendations in your business or organization’s best interest based on my experience in the Vancouver real estate market.

 

For more information about my approach to commercial real estate consulting, please contact me.

 

Kent Craig    /    T 604.279.3817    /    kc@kentcraig.com    /    © 2014 Kent Craig

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