Friday, 29 January 2021 11:45

5 Benefits of Working With a Commercial Real Estate Consulting Firm

Navigating the world of commercial real estate can be complex. Whether you’re interested in leasing new office space or buying industrial warehouses, having an experienced commercial real estate consultant on your side can save you a significant amount of time and money. If you’ve started your search for a new space, you already know how time-consuming it can be. However, with a limited portfolio and infrequent projects, having a dedicated real estate professional on-staff is probably out of your budget. That’s where commercial real estate consulting comes in.

What do commercial real estate consulting firms do?

When you first hear the term “commercial real estate consulting,” you might picture a professional who offers advice. While CRE consulting firms certainly do offer advice, they do much more than that too. For instance, here at Lavoro Consulting, we also assist with:

  • Transaction Management – Site selection, tenant representation, lease negotiation, and site acquisition/deposition
  • Lease Administration - Critical date monitoring, occupancy cost analytics, operating expense/CAM reviews, lease amendments/renewals, and lease restructuring
  • Strategic Planning - Stakeholder collaboration, portfolio strategy and management, scenario analysis, space needs, and restack management
  • Fit-Out and Project Management - Contract negotiations, vendor management (IT, AV, security, and signage), schedule management, budget management, design and construction management, furniture management, and move management
  • Facilities Management - Contract negotiations, facilities budget management, landlord or property management liaison, and excess furniture and reconfigure management

Benefits of hiring a commercial real estate consultant

There are many reasons to consider working with a CRE consulting firm. Other than having an experienced advocate on your side, here are some of the top benefits you gain from a consultant.

1. Work as an extension of your staff

For many small- to medium-sized businesses who only have one-off real estate projects, the responsibilities can sometimes fall to their departments. Most often, these departments don’t have the bandwidth (or skills and experience) to lead these sorts of projects.

That’s the great thing about corporate real estate consulting; we operate as an extension of your staff so you can focus on the day-to-day operations that keep your business running smoothly.

2. Find the perfect space

CRE consultants will help you accurately define your organization’s facility needs—which could be different from what you initially thought. They also have insider knowledge of the market and access to listings and subleases that aren’t always available to the general public!

3. Save time

Let’s not sugarcoat it: finding the right commercial space for your needs is extremely time-consuming. There are, what feels like, a million moving pieces and managing it all on top of a full-time job can be overwhelming. Hiring someone to do that hard work for you can ensure your staff stays focused on their daily tasks and responsibilities.

4. Save money

Working with a CRE consulting firm can also help save you money. They know the markets in-depth and will always fight for a fair price. Without an experienced professional on your side, it’s easy to get taken advantage of and end up paying way more than you should.

5. Help with office fit-out and facilities management

Okay, you’ve secured a new space, but now what? Next comes the dreaded office fit-out and move to your new space. This can be just as stressful (if not more so) as finding the right space. A CRE consultant will help with your office move and any fit-out projects you need in your new space. And once everything is ready for move-in, they’ll also assist with ongoing facilities management.

Work with Lavoro for your next CRE consulting project

If you’re moving offices (or hoping to redesign your current space), reach out to us today at Lavoro Consulting.

We’re here to help make your space work for you. Contact us today to learn more.