Buyer and Tenant Representation
The world is moving at a very rapid rate where Shopping Center and Malls that seemed indestructible 10 to 15 years ago are now being forced to Adapt and Reuse their space or face closure. The markets have changed with our growing Demographics and advancements of modern Technology.
As Your Buyer/Tenant Representative our roles require the following :
- Research and Keep up with each municipality 10 year Economic Developmental goals.
- Investigate and monitor the Department of Transportation (DOT) spending and infrastructure projections
- Location and Site Analysis
- Financial Analysis
- Provide Comparables for leasing and purchasing Properties and Assets
The Tenant Representation process includes the following scope of work:
- Needs Analysis: I work closely with my clients to define their current and future space needs
- Kind of Space
- Necessary Amenities
- Location with respect to competitors
- Trade area characteristics
- Move Date
- Special Needs
- Market Research: List of locations for the tenant to consider.
- Building Investigations: The result of this stage is a short list of the best spaces or sites for the tenant. These spaces are toured and compared with one another.
- Requests for Proposals: In this stage I will take my clients final requirements and propose to the owners or owner representatives. The terms of the lease are spelled out and the negotiation process begins.
- Economic/functional Analysis: The Landlord will review a variety of economic factors such as rental rate, tenant improvements, moving allowances, parking, and other concessions. They will also compare to other properties in terms of square footage, floor location, expansion/contraction options, and building amenities.
- Negotiations: While office, industrial, retail, and multifamily properties have unique characteristics; the scope of services provided within these markets includes land acquisition, leasing, sale, finance, property management, and appraisal.
- Follow up Services: After the deal is complete, we are very active in staying in touch with our client and the deal we closed. This includes providing our clients a list of proven vendors to assist them in their new locations. Remember, with Buyer or Tenant representation, the Client does not pay commission, our fee is paid by the Seller/Landlord. We strongly encourage one to have representation when Purchasing or Leasing spaces. It does not cost you anything and you get an professional experienced Broker working on your behalf for your best interests.
Do not navigate the often treacherous waters of finding a site or space for your company without representation! Our service is invaluable to business owners and it’s at no cost to you.
As your Tenant Representative, we understand some of your goals entail the following:
- Tenants/ Users lease space and become tenants
Lease space to operate their primary business
Want to maintain flexibility
Want to retain capital for primary business rather than the immediate purchase of real estate
Seek lower cost of occupancy than a purchase
Maybe investing in concept expansion or other real estate opportunities
In the News
Relevant stories and commentary for those with an interest in commercial real estate ventures. (2)
Keller Williams Realty, Inc. is a real estate franchise company. Each Keller Williams office is independently owned and operated.