Rare Space Real Estate Process
1. Needs Analysis – Determine Requirements: Size, Layout, Budget, Location, Building Class, Term, Timing.
2. Property Search – Input requirements into property database to generate a building report and photographs.
3. Property Tours – Review prospective buildings and locations, tour the top building prospects to narrow the alternatives down to 3-4 buildings.
4. Proposal and Counters – Draft and review proposals, deliver and review responses.
5. Financial Analysis – After receiving response proposals a financial analysis is drafted showing each properties yearly expense totals.
6. Space Planning & TI Pricing – Initial design during the proposal process, modified plan with working drawings after lease is executed, pricing of tenant improvements is established.
7. Review, Sign Lease – Check lease for accuracy on business points, tenants legal team reviews the lease, negotiations for final lease documents.
8. Build Out Space – Final work drawings and building permits are established, manage construction of tenant improvements and coordinate relocation.
9. Lease Commences – Tenant and landlord execute lease agreement.
10. Occupy Space – Move in after tenant improvements are completed.