Looking For Office Space
Here is our approach to developing a game plan and helping your company execute the right plan for its office space needs:
Phase I: Discovery of Requirements
In the first phase of the lease transaction process, we take time to interview key personnel within your company and discuss your short-term + long-term business objectives. We select the appropriate team members for your assignment and get to work creating preliminary cost estimates and a projected timeline for the entire process. Our goal is to take the time up front to discover your requirements so we can create a seamless transaction without business interruption.
Phase II: Identify/Qualify Alternatives
Based on our initial interviews of your key personnel, we begin to create an employee zip code map to help define the geographic search area. We will then conduct an in-depth market survey to show all of the availabilities that match your initial criteria. From there, we will work with you to narrow the list of availabilities down to a manageable number of qualified alternatives. Now it’s time to tour the qualified properties to see which spaces and buildings would truly match your company’s objectives. We will help you look at all aspects of the building and offer our objective opinion to help narrow the properties down to a “short-list” (which might include your current office building).
Phase III: Undertake In-Depth RD
After you have decided upon your short-list, we will begin drafting a Request for Proposal (RFP), which we will send to you for your input/approval. Once approved, we will begin sending the RFP directly to the landlords of the selected properties (to include your current Landlord). Typically, the Landlords will respond within 1-2 weeks after receiving the RFP. We will receive the proposals and perform an in-depth analysis to create a proposal comparison. From here, you would ideally be able to narrow the list of qualified properties down to 2-4 finalists. At this point, we would engage an architect to begin space planning the finalist options to see how your company would fit into the proposed space in the building. We will also work with you to facilitate an estimate of the cost of improvements to build out your new work environment. Once we receive the space plans from the architects, we may be able to narrow the list of qualified properties down for now.
Phase IV: Negotiate Terms ConditionsDuring the fourth phase of the lease transaction process, we will prepare a “Letter of Intent” (LOI) to lease office space. After your review, feedback and approval, we will send it to the selected building Landlords. At this point in the process, we begin to negotiate on your behalf to assure you receive fair and competitive business terms while working to eliminate any hidden costs. Once the business terms are agreed upon, we will then request a draft lease from the landlord. We will act as a quarterback during this phase and coordinate with an attorney selected by you to review the lease, make comments/changes, and return the lease with your comments to the landlord. At the same time, we should be finalizing the space plan and confirming the construction schedule to assure you hit the target occupancy date. Finally, we will attempt to resolve all remaining legal issues and execute the final version of the lease.
Phase V: Execute Transaction
After the leases have been executed by both parties, we will make sure the construction documents are generated in a timely manner, and facilitate the contract bid/selection process. We will work with you and the landlord’s team to monitor the construction process. Once the construction is complete, we will be with you during the final walk-thru of the space. Now it’s time to move into your new space!
Phase VI: Post Lease Support (Ongoing)
We strive to build stronger relationships with our clients by providing value-added services after you have occupied your office space or stayed in your existing space. After the lease is executed we will create a lease abstract. A lease abstract is a brief summary of the lease which outlines the rate schedule, important dates, tenant options, etc. We can also work with you to perform operating expense audits to ensure that you are paying market operating expenses for your building. Finally, we will work with you should your company need to expand, contract, dispose of office space or renew and renegotiate lease terms.Office Leasing Simplified
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