September 12, 2019
During the fun part of touring spaces, finding the perfect location and negotiating a lease, most brokers are highly visible. The emails, the calls, the texts and all that face time make the broker seem omnipresent.
And then they ghost you.
Once the lease is signed, most brokers have a vanishing act. Tenants are usually left on their own to find an architect, general contractor and project manager to oversee renovations and plan the relocation to new space. Sometimes the landlord or their leasing agents manage the process, which presents an inherent conflict of interest that may not give the tenant’s needs top priority on things like construction costs, materials selections and budget management.
The sheer number of details gets overwhelming, and important information can get lost in the handoffs. Balls get dropped and it becomes an enormously stressful and distracting time that can hurt business operations.
We think that’s a half-baked and old-school way of doing things, and that the relationship between a broker and a client should continue in perpetuity.
After we’ve toured spaces and worked with our clients to carefully consider options and narrow down choices for new space, we bring in a trusted architect and general contractor to start creating a budget — while lease negotiations are happening.
By creating a budget and a plan before the lease is even signed, we come to the negotiating table with more complete and accurate information as we approach dealmaking in a more strategic way.
For example, some tenants prefer to have the tenant improvement allowance cover most or all of the cost of build-out, and having a budget earlier in the process gives us more negotiating power and facts to accomplish that. Some tenants might be more concerned about minimizing escalations in the rental rate over time, and knowing that ahead of time gives us more leverage to meet that goal.
We also offer full project management services to ensure that the entire process happens smoothly, and that the renovations are completed on time and on budget. Our sister company, Transcend IT, offers complete low-voltage cabling and security access services to bring top-of-the-line technology, audio/visual and access control features to the new office.
We even track the performance of the building over time, to find out whether the economics and functionality of the space meet the tenant’s needs the way we anticipated at the beginning.
All along the way, we stay close to our clients and keep in touch about how the space is working for them. We ask whether changes in their business operations, headcount growth and other needs might justify some adjustments to the way their office is laid out, their furniture, their use of the space or their overall real estate footprint.
And then we help them accomplish the things they need to help their businesses grow and thrive, because that is what it’s all about.
We think everyone should love where they work. Find out how we can make it happen for your team. You can reach us here.