Internally you’ll want to appoint a project leader as the single point of contact. At a minimum, get your IT, HR and finance involved from the beginning. The leader of the group should be the individual that has the most experience in corporate real estate and facilities.
Be sure to gather a team of advisors. More than 90% of the commercial real estate brokers represent both landlords AND tenants. This creates a built-in conflict of interest that few tenants understand and even fewer brokers discuss. Avoid this conflict of interest by working with brokers that only represent tenants and never landlords. Tenant representatives are typically paid by landlords, so you have the benefit of an expert real estate advisor without being out of pocket.
Find an experienced real estate attorney to make sure you have flexibility negotiated into your lease and that the terms and conditions are customary, protective, and fair. Most first drafts of a lease are very tenant-unfriendly and can cause unexpected problems for a tenant down the road. A good cost-conscious real estate attorney will help you avoid these pitfalls.
Be sure to gather a team of advisors. More than 90% of the commercial real estate brokers represent both landlords AND tenants. This creates a built-in conflict of interest that few tenants understand and even fewer brokers discuss. Avoid this conflict of interest by working with brokers that only represent tenants and never landlords. Tenant representatives are typically paid by landlords, so you have the benefit of an expert real estate advisor without being out of pocket.
Find an experienced real estate attorney to make sure you have flexibility negotiated into your lease and that the terms and conditions are customary, protective, and fair. Most first drafts of a lease are very tenant-unfriendly and can cause unexpected problems for a tenant down the road. A good cost-conscious real estate attorney will help you avoid these pitfalls.