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Mark Rauch's Tenant Rep Times                       February 23, 2011
 
Southern California Tenant Representation     
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MARK DAVID RAUCH
Greetings!
 
Welcome to the "Tenant Rep Times".  You are receiving this edition of my eNewsletter because you  rent or own commercial office space and are either my client or a potential client.  I trust you will enjoy this issue and get a "gem" or two out of it.   
 
Your email address will only be used to communicate with you and will NEVER be sold, shared, rented or otherwise provided to other entities.
IN THIS ISSUE
MY 8 STEP PROCESS OF LEASING OFFICE SPACE
THIS WEEKS RESOURCE
MARK'S' POINT OF VIEW
My 8 Step Process Of Leasing Office Space 
Presented By Mark Rauch
 
"Action may not always bring happiness, but there is no happiness without action."                                                              -Benjamin Disraeli- 
leasing process 
Leasing Process: The process of leasing commercial real estate can be complex. Because of this I strongly suggest starting the process at a minimum 6 to 8 months in advance of lease expiration or desired move date. Whether renewing the current lease, expanding and/or relocating it's important to start early and allow ample time in order to have a position of strength with Landlords.  My approach ensures that no detail is overlooked, and your critical dates and deadlines are met. A summary of my process includes the following: 

Evaluate Your Commercial Real Estate Needs: Together, we review your existing lease and examine your goals and expectations (should you renew, relocate, or expand). I help you:

  • Establish your budget and project timeline. 
  • Determine current and future space and layout needs. 
  • Define ideal location parameters.
  • Identify technical and amenity requirements.

Provide You A List Of Options: I provide you valuable comparative information on available spaces including your current location using extensive market knowledge and research. I examine the market and identify every possible property that meets your specific criteria. Pictures, flyers, floor plans, and rate information will be presented in a way that enables you to compare and isolate the most desirable options.

Tour and Evaluate Properties: I tour the most desirable properties with you to evaluate the physical, operational, location and preliminary economic attributes against your criteria. Given the results of the property tour, decisions can now be made on how favorably each building compares to your ideal criteria and a final list of 2-3 alternatives can be chosen.

Request Lease Proposals: I will send an RFP (request for proposal) to the landlords of the top 2-3 properties that accurately address all your requirements and preferences. The RFP has two purposes:Establish terms consistent with your business plan and ensure that the owner will address them and enable you to make an apples-to-apples comparison among proposals

Comprehensive Analysis of Proposals: I will conduct a full comparative lease analysis analyzing key lease and financial points such as rental rates, lease terms, operating costs, construction and rent allowances, moving and furniture costs, expansion and renewal options, etc. This arms you with clear comparisons of the proposed terms and costs, and enables us to create creative counter proposals.

Negotiation and Final Selection of Counter proposals: I go back and forth until I feel the landlords have proposed their best, competitive terms. Together we will identify and select the best property based on the objective and subjective criteria we set, and negotiate a lease that fits your company's needs and use.

Finalizing the Lease: I work closely with your legal counsel to negotiate the final aspects of the agreement and insure that the lease documents reflect the terms and conditions agreed upon. Lease provisions involve an enormous range of matters that can impact your company's operating costs, comfort and well being for the years to follow.

Construction & Move-in Coordination: I will work with the landlord, contractor, and architect to insure that the space is built out on time, and according to the specifications agreed to in the lease. My strategic alliance with related services providers (ie: internet, phone, movers) ensures you are consulted in every detail of the move-in process.

 

Nothing contained herein is to be considered legal advice.  Always seek legal advice when evaluating any legal document. 

This Weeks Resource

 

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Mark's Point Of View

Question: Mark, now that I've hired a Tenant Advisor, what should I expect from him/her?

 

Answer: A Tenant Advisor is like any other service professional. You should expect them to represent your interests, to give you good advice and to help you through every phase of the leasing process; that is helping you determine how much space you need, what are your most important selection criteria, and then finding and negotiating for the space that best meets your needs. Don't be afraid to ask your Tenant Advisor all kinds of questions. Remember that your Tenant Advisor doesn't get paid unless a lease is signed, therefore their primary aim will be to make the transaction happen. No matter which Tenant Advisor you hire, make sure that person cares most about your interests. Ask questions, know your options. Make sure your Tenant Advisor understands what is important to you in the lease negotiation.
 
I also want to reiterate that we are requesting meetings with Professional and Corporate Office Tenants.

We are looking to represent a handful of Tenants, each occupying 5,000 rentable square feet to 500,000 rentable square feet.  Please call or email us to schedule a time to discuss how we can help.

Please don't keep me a secret.  Other than representing you, a referral is the greatest compliment I can receive. 
My focused specialty is solely driven to advocate the office space interests of Southern California-based corporations and professional services firms in leasing and purchasing negotiations of all types-renewals, relocations, renegotiations, recasting, subleasing, terminations and investments on a local, regional, national and international basis through a network of offices in 200+ markets around the world.
 
Assignments range from single office lease transactions to national and multi-national real estate portfolios.
 
It is my sincere desire to develop meaningful, long term relationships as your trusted
Tenant Rep Consultant and friend.
 
Regards, 
 
Mark
MARK DAVID RAUCH 

Thank you for taking the time to spend a few minutes with me.

Sincerely, 
 
Mark D. Rauch                               
Senior Vice President
Travers Realty Corporation
Direct: 213-430-2469
Mobile: 818-943-2959
License # 01019455 
 
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