Consultants to Commercial Tenants on Relocation, Renewal and Occupancy Issues
Commonly Asked Questions
When is it time to begin the search?
We encourage tenants to interview a few consultants and check their references. If you are leasing 5,000 to 15,000 square feet, you should begin the process nine to twelve months prior to your projected relocation date, even if you are considering renewing. Leasing more space requires one to three years to plan a move properly. For tenants leasing fewer than 5,000 square feet, six months’ lead time is usually adequate. It is better to talk to us too early than too late.
Do you really need representation?
Virtually all tenants retain their own broker. The renewal or relocation of even a mid-sized tenant can be a multi-million dollar transaction. Identifying properties, negotiating terms for several properties, and coordinating the work of architects, engineers, contractors, vendors and attorneys requires hundreds of hours over several months. There are at least 50 major business issues in a typical commercial lease that could be quite costly if they are not resolved in your favor.
How much will our services cost you?
Usually nothing. Landlords generally pay our fee from their commission budget with funds otherwise allocated to paying the landlord’s broker. Nevertheless, we make it clear to all parties that we are solely representing our client’s interests.
Who pays for any construction you may need?
Everything is negotiable. Generally, we have the developer pay the cost of designing and constructing the space to your specifications, and seek additional concessions to pay some of your relocation expenses, including the cost of installing new data and communications cabling.
For answers to your questions, please call us. We believe tenants should understand the process.
Meet with us before you hire a broker, or before you begin the process of renewing, expanding or relocating on your own.
|Strategic Realty Advisors, Inc. 2831 29th Street, NW Washington, DC 20008 202.483.7913|