Your lease is expiring?
Depending on the size of the company, generally companies start thinking about their office/industrial lease between 12-24 months prior to the lease expiration. Lease renewals should be handled similar to a new lease.
Typically, our process for negotiating lease renewals is as follows:
First, we will do a client interview, review their existing space and determine future space needs.
Following that, we set goals for the work we will perform and jointly develop a real estate strategy.
Rare Space will provide an overview of the process and detail the steps that will be taken.
Rare Space will search our proprietary 500 million square foot database and present all of the options to the client. Additionally, we will highlight our top 10 buildings to consider.
We will tour the client through 4-6 of the top buildings per day until 3 contenders are identified.
Jointly, we will develop proposals for the 3 spaces and begin negotiating the terms of the deal.
Rare Space will do a financial analysis of the proposal responses and draft counter proposals, as needed, to reach mutually acceptable terms.
Once a space is selected, Rare Space can manage/negotiate the lease or purchase document, coordinate the architect, GC’s and others to get the space ready for occupancy.