Displaying items by tag: lease negotiations
As the CEO of a small business, it can be difficult to acquire the right workspace for your company. When you don’t have a commercial real estate expert in-house, leasing the right facility can be a challenge. But when you have an expert in corporate real estate consulting on your side, you can make things a little easier for your business.
So how can you find the right CRE consultant for your needs? Do you really need to hire a CRE consultant? Where should you get started? We’re here to clear the air on this topic.
As a top provider of corporate real estate consulting in Denver, we've developed 4 considerations that you need to carefully weigh as you think through your CRE needs. These questions will help you evaluate your CRE needs as your company grows and changes for the better.
4 CRE Considerations From an Expert in Corporate Real Estate Consulting
When most people think about commercial real estate, they first think about large companies like Google and Amazon that own massive amounts of office space. But you don’t have to own a commercial building to utilize it! Commercial real estate is a complex industry that has never been out of reach for smaller entities.
Let's walk through the top 4 things to consider when it comes to corporate real estate.
1) Which type of property should you lease?
There’s a wide range of commercial properties on the market and they all serve unique business purposes. From retail and industrial spaces to multi-family residences and other types of property, your CRE strategy all starts with nailing down the right type of listing.
This decision can have massive implications for the future of your company. For example, if your business is product-based (e.g., a clothing company), then you’ll likely need to lease a larger industrial property to create your products. However, the same can’t always be said for financial-based businesses, like financial advisors or CPAs.
Before you dive headfirst into one property type over another, it may help to ask yourself a few guiding questions first. To nail down your property type, ask yourself questions like:
- How will your company utilize your next commercial real estate property?
- Do you anticipate that your business will grow in the next few years? If so, how might that affect your CRE needs?
- Will clients and customers be visiting your location regularly?
2) How much time can you spend on your CRE search?
Once you’ve nailed down which type of property is best for your company, then you’ll need to find the most appropriate listings for your company. Unfortunately, this can be a complex, confusing, and arduous process, especially if you are unfamiliar with CRE.
You can expect some stiff competition across the commercial real estate market in Denver. CRE leases may last for 5, 10, or even 15 years, but listings for corporate real estate may only be available for a handful of days. This can make it very difficult to acquire the right property for your needs at the right time. And when you need to balance your work with your CRE search, timing can become an even greater issue.
For that reason, it can be very helpful to leverage the support of a corporate real estate consultant. They’ll monitor the market for you each day and will have access to CRE listings that aren’t publicly available. They will leverage their years of experience to analyze local listings to locate the most fitting options for your budgetary constraints and your property needs. Thanks to their expert CRE support, you’ll be able to acquire the right property for your company when you need it most.
3) What property upgrades will you need to install?
No single property listing will ever meet all of your needs. While a given listing may check off many of your “must-haves,” it may still miss some key items. For instance, some office spaces may have adequate square footage but may lack a functional kitchen area. So you may need to account for that property upgrade.
When you enlist the help of corporate real estate consulting services, you won’t need to worry about those property upgrades. Your CRE expert will handle all of the logistics of your upgrades and will ensure that the appropriate features are in place by the time you move in. Not only that, but they’ll handle every part of your office fit-out project including:
- Budget and schedule management
- Design and construction management
- Contract negotiations and vendor management
- Move management
- And more
4) Who should you hire for corporate real estate consulting in Denver?
It’s no secret that commercial real estate is time-consuming, stressful, and chaotic. For that reason, it’s best to hire a CRE consultant to manage your CRE search, your lease(s), and your office fit-out.
When looking to hire a CRE consultant, make sure you look for someone who is experienced. They should know the local market well enough to spot trends before others. It’s also important to make sure their experience includes working within your industry. If a CRE broker has not worked with other companies similar to yours, then they may struggle to find the right listings for you.
If you're ready to find your next commercial real estate lease in Denver, you're likely best served by hiring a corporate real estate consultant. And you’ve already come to the right place at Lavoro Consulting.
No matter your goals or budget, we can achieve your CRE needs at Lavoro Consulting. Our corporate real estate consultants have:
- Successfully managed portfolios and projects in excess of 600,000 SF with budgets of more than $25M.
- Helped clients and companies negotiate lease savings over $10M in just a single transaction.
Take the next step with Corporate Real Estate Consulting in Denver
As you can see, there's a lot to consider and hammer out when looking for commercial real estate listings. As the CEO of a small or medium-sized business, don’t make your next CRE move without expert partners like us at your side.
Are you ready to start taking serious next steps in your company's commercial real estate future? Contact us at Lavoro Consulting today to make the right moves towards corporate real estate success!
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.
COVID-19 changed the demands of commercial real estate in ways we're still trying to understand. Many businesses saw their commercial real estate commitments as a means to cut costs and save money. If you're considering renegotiating a lease or exiting an unwanted space, you could be overlooking an opportunity to utilize lease administration services in Denver to cut costs and boost your bottom line.
Unlike leases for residential properties, commercial leases are expected to go through multiple rounds of negotiation. The initial lease that is provided to you is essentially a rough draft. Your potential landlord or property owner is anticipating that you will request changes to the proposed lease. Here’s how to negotiate a commercial lease to ensure you get the best possible outcome for your organization.
A company’s real estate portfolio is often one of its biggest expenses. Leasing out office space isn’t cheap, no matter where you operate. To save money and cut down on costs, many companies try to have internal staff manage their real estate holdings. While this may be a realistic option if you operate in only a few locations, any more than that and it can quickly become too difficult to manage. Not to mention, CRE management takes time away from your employee’s primary responsibilities and can significantly disrupt their daily work. Outsourcing those responsibilities to a commercial real estate leasing administration manager can offer many benefits for your business.