Navigating the complex world of commercial real estate can be challenging. Even just the thought of relocating your office or warehouse space can feel very overwhelming. A new space isn’t just something you’re going to occupy for the next few years, it’s also one of the top expenses for your business. Working with a tenant rep in Denver throughout the relocation process is one of the best business decisions you can make.
What is a tenant representative?
A tenant representative is a commercial real estate (CRE) consultant who works exclusively on behalf of the tenant. This is different from a transaction real estate broker, who will often work with both the tenant and the landlord simultaneously, which can create a conflict of interest.
Why work with a tenant rep?
Working with a tenant rep has many benefits for your business. Here are three of the top reasons why it’s worth hiring one for your next commercial real estate transaction.
1. Landlords will return your calls
If you’ve started to search for a new commercial space on your own, you probably already know how hard it is to get landlords or landlord reps to return your calls. They are incredibly busy people and, unfortunately, they don’t always have the time to get back to every prospective tenant (even though you could very well be the perfect fit for their space).
Working with a tenant rep in Denver can help ensure landlords are actually calling you back thanks to their increased credibility and reputation, and the backing of their CRE company. Hiring a tenant representative shows landlords just how serious you are in finding a suitable space for your business.
2. Gain access to CoStar and off-market properties
Only a handful of all commercial real estate properties are accessible to the public. And of the ones that are listed on free sites such as LoopNet, many listings are outdated.
Hiring a tenant rep helps ensure you have access to complete listing databases on sites like CoStar, which require a fairly hefty monthly membership fee. Tenant representatives are also well connected within the commercial real estate industry. They know local leasing brokers and landlords, which can help give you access to off-market spaces.
Not to mention, they also have relationships with top area architects, interior designers, general contractors, office furniture dealers, and many other valuable connections. Those relationships can help ensure you’re able to design the business space of your dreams.
3. Ensure you find the right fit for your needs
Finding the right fit for your office space is no easy feat. It’s much more complex than just thinking about what you need now. You need to plan for the future too.
Ask yourself: is your company growing or staying static? Will you shift towards remote work or stay in the office down the line? What kind of parking do your employees need? What are your current landlord concessions (free rent, base year cap, moving allowance, etc.)? Does the landlord seem responsive and professional?
Work with an experienced tenant rep in Denver today
If you want to find the right commercial space, at the right price, at the right time, you need to work with an experienced tenant representative. Here at Lavoro Consulting, our tried-and-tested tenant rep in Denver will stand by your side and advocate on your behalf throughout the entire commercial real estate broker transaction process.
What are you waiting for? Contact us today to learn more.