Tenant/Buyer Representation:
Philosophy:
It is our job to obtain the best possible terms in a transaction for you as your fiduciary. The landlord's or Seller's agent has a fiduciary responsibility to obtain the best deal for their client. As your advocate we can explain to Landlords and Sellers (through their Broker) that you have viable alternatives, negotiate aggressively, and minimize your risk. It is customary in the Real Estate industry that Sellers and Landlords pay the brokers so you will not be charged for our services. We have experience since 1978 and know how to structure transactions to be consistent with your long and short term business plan while optimizing costs and terms. For instance, maybe you need to have the flexibility to expand or contract your facility. Or, your lease needs to begin with lower rents and ramp up as your company grows. Or, if you plan to make a purchase maybe a Lease with an Option to Buy will work best. The creative terms we can use are endless. It is important to us that we earn and keep your trust. Hence, you will know everything we know about the transaction and property and we will be aggressive with disclosures and inspections.
The Process:
The following is basically the order of required tasks to proceed with a transaction: tour existing facility, review existing lease or review ownership documents (ie: notes and deeds, title report, etc.) , identify size and layout requirements (checklist available), review budget, define location alternatives (checklist available), determine image needs, list amenity requirements, develop Market Survey (web site, developers, brokerage houses, existing clients, alternatives not formally on the market, etc.), review and screen Market Survey, tour likely facilities, select best alternatives, create preliminary space plan, estimate plan cost, submit offer or request proposals from several landlords/sellers, prepare financial analysis comparison of alternatives (maybe buy versus lease), negotiate business terms (rent, options, amortization of improvements, etc.), firm construction cost (multiple bids), obtain disclosures (measure facility), inspect the property (roof, HVAC, environmental, fire sprinklers, etc.), review relevant documents (environmental, title, negotiate final document, NNN expenses, lease, purchase agreement, insurance requirements, escrow closing statement, etc.), process agreement (escrow, lease terms, critical date time line), final walk through.
During the process we will coordinate the Team to facilitate the transaction - attorney, financial advisors, facility department, space planner, construction people, telecom, 1031 Exchange Company, engineer, government, etc.
It is important to keep your leverage with your current and potential Landlords or with Sellers. Having accurate knowledge of alternative property in the marketplace will be needed to renew your lease or if you are seeking a new facility. If your Landlord or a Seller feels you have no or minimal alternatives your leverage in negotiating is lost. We can provide those alternatives. By you having representation from us you put the Owner and their agent on notice that you are serious and that you will be seeking an aggressive deal.
