- Looking for office space, or…
- Thinking about “renewing” your office lease…
Here’s the best office leasing advice you’ll ever receive…
- Start early
Depending on the size and complexity of your office requirement, allow 6 to 12 months to plan, execute and occupy new office space…or renegotiate your current office lease to obtain better terms and conditions than you presently have.
- Create competition for your tenancy
To get the best return on your real estate dollar you must have landlords compete against one another for your tenancy. (If there is a holy grail of real estate negotiations, this is it!)
- Don’t “Go it Alone”: Your time is too valuable to waste
Long Island’s office market is geographically vast and much different than when you last looked for office space. Let The Navigator chart your course through Long island’s 50 million square feet of office space to find you the best office space…office space that “works for you”.
Step by step…what The Navigator will do:
Step 1: Complete an in-depth “needs analysis”.
Based on your physical office space needs, location demands and budget, we’ll search the Long Island office market to find office buildings that…”work for you”. We will:
- Listen to how you want your office space to work and what your budget will be.
- Prepare a detailed “space program” that will optimize your organization’s office space needs
- Research the Long Island office market to find office buildings that best address your real estate goals…while uncovering “hidden” opportunities.
- Develop a project schedule to either facilitate a move to another office building or negotiate better terms and conditions from your existing landlord.
- Arrange field inspections to objectively assessing each office building’s features and, for that matter, each landlord’s strengths and weaknesses (not all landlords are created equal).
Step 2: Generate competition for your tenancy
- Prepare and submit to each prospective landlord a detailed lease proposal including:
- Rent schedules;
- Work letter specifications;
- Property tax & operating escalations;
- Renewal and expansion options, etc.
Step 3: Negotiate and confirm all business terms and conditions
- Analyze and negotiate each landlord’s counter offer to obtain the best terms and conditions, including:
- Rent schedules and escalation formulas
- The scope and quality of construction the landlord will use to build your office suite
- Favorable renewal and expansion options
- Help you compare the different landlord offers to determine which best meets your financial and operating goals
- Review the entire office lease…from first page to the last…providing insightful recommendations.
Step 4: Ongoing Support
- Participate in construction meetings, assuring you of receiving exactly what the landlord promised
- .Introduce other experts as needed, i.e., engineers, attorneys, architects, furniture, IT and telephone vendors
- Provide post-occupancy services including lease abstraction and audits
- Remain available throughout the lease term to respond to any issues that may arise between you and your landlord
What’s the next step?
Contact us and we’ll find you the best office space on the best terms and conditions…guaranteed! We’re here to help and look forward to hearing from you.
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