Tenant/Buyer
   Representation

Why Tenant / Buyer Representation?
Leverage Time, Personnel, and Real Estate

Leasing or buying office or industrial space is a complicated business decision that has an impact on an organizations financial position.

As in any business decision the more accurate the information and assumptions used the better the decision.

An organization can leverage market knowledge by utilizing a licensed real estate broker as its representative. Time can be leveraged two ways

1. Adding a temporary member to your staff for a specific project, and
2. Allowing enough lead-time for the decision process.

On a super fast track the process of looking for small offices could take 6 weeks. Looking for 20,000 square feet to 100,000 square feet could require 9 to 24 months. Besides identifying the location time must be allowed for design of the space, lease negotiations, legal review, signing, construction pricing, any required permits, and construction of tenant improvements.

Part of being well represented is being well informed. Sometimes the result of an extensive site search is a lease renewal. In cases such as a lease renewal the knowledge gained by going through the entire decision process, which includes receiving lease proposals, assists in creating competition for and educating the existing Landlord.

Some of the issues in the process include:

Type of space Geographic area defined Estimated budget Customized market survey Property tour Preparation of request for proposals	Analysis and comparison of terms offered Tenant selection of site Architect for space planning Lease negotiations Broker's fees Lease analysis and comparison - non-legal	Lease or buy Renew or relocate Over pay Growth and /or reduced capacity Future relocations Analyze the market from the tenant's point of view. Example: J&B Software, Inc. project