Displaying items by tag: tenant representation
For most companies, it’s challenging to find a suitable office location. The available spaces can be too small, too expensive, or too far away for your needs. And sadly, only a few tenants receive the representation they need to not only save time but to save money too. Office tenant representation can help you worry less about finding a suitable space and instead focus more on the daily operations of your business so things continue to run smoothly.
Navigating the complexities of Denver commercial real estate (CRE) can be overwhelming, to say the least. New real estate developments are still popping up, especially industrial properties, and the market appears to be rebounding to grow at record rates despite Colorado’s governor locking down thousands of businesses. To make the CRE process more manageable, we recommend working with experienced Denver commercial real estate brokers. With CCIM-certified CRE experts on your side, you can make informed decisions when buying, selling, or leasing local properties.
If you're new to the world of commercial real estate, the thought of moving your office or warehouse facility can be overwhelming and expensive. This isn't only a space you're going to occupy for years to come; it's also likely one of the top 3 expenses for your business behind payroll. Hiring a tenant rep broker is one of the best things you can do before you start your search for a new office or warehouse space. Without an experienced tenant representative working on your behalf, you put yourself (and your business) at risk of being taken advantage of.
Securing a lease at the right office, flex or industrial warehouse space at the right time, for the right price is challenging. And if you try to go about it alone, your commercial real estate experience can end up being more costly. When it comes to a decision as big as this, it’s best to trust and engage a professional. If you’re interested in commercial tenant representation in Denver, we’re here to help.
So, you’re looking for a new commercial real estate space for your business. That’s great! Operating in the right office or warehouse is a key factor in achieving long-term growth and success. But finding the right fit for your business in Denver’s competitive commercial real estate market is often a challenge unless you have an unlimited rental budget. Selecting the right space—and successfully negotiating a lease you can afford—are no easy feats. To avoid potential pitfalls, it’s wise to seek out the professional support of Denver tenant representation services.
Working with a tenant representative can result in major cost savings for you and your business. At Fountainhead Commercial, we work diligently to ensure we negotiate a deal that is in the best interest of your business.
A global client with over 150 locations needed to reduce overhead and refresh office finishes.
In order to do so, Fountainhead needed to evaluate their portfolio to determine where there was an opportunity to consolidate offices/relocate or renegotiate existing lease agreements while securing maximum tenant improvement dollars and other economic incentives.
Created a database tool to track all of the client’s lease administration including office size, rental rates, net expenses, remaining term, number of employees, and utility costs. Utilized information from the database, in addition to research on each market, to identify which metropolitan areas were most likely to provide maximum savings on renegotiation or relocation; identified and planned consolidation in 25 international markets.
Over the next twelve-month period we pursued decreased rent, tenant improvement dollars, free rent, and other concessions from the respective landlords. The client saved approximately 26% on their global occupancy cost, which equated to over $5,000,000 per year and approximately $27,000,000 over the renegotiated term.
If your business has locations across the United States, or even around the world, Fountainhead Commercial can help reduce overhead costs and renegotiate existing lease agreements. Contact us today to learn more.
Relocation can be a stressful time for business owners. There are a lot of unknowns and risk can be high if you don’t know what you’re doing. Fountainhead Commercial can help.
A regional law firm outgrew its initial space within the first 12 months of the lease term and desired to quadruple the size of its Denver office.
Tour the marketplace to create the required leverage to enable the client to expand within their current building, terminate their existing lease (with cost-savings), and relocate to a new space.
Justin Rayburn, tenant representative, successfully created the required leverage that allowed the client to expand within their current space, which generated an 11% savings on rent and tenant improvements (over $135,000 in value), terminate their existing lease obligation (a savings of approximately $125,000), and relocate to a new space that was designed specifically for their use.
If you’re interested in relocating and reducing your rent, reach out to us at Fountainhead Commercial. We’ll do the hard work for you so you can focus on other areas of business.
A national insurance company wanted to upgrade its image within the marketplace and relocate to a more desirable area in Northwest Denver that would offer better amenities to its employees and increase employee happiness and engagement.
18-months prior to lease expiration, Lowrey Burnett and Justin Rayburn, tenant representatives, were tasked with developing a relocation and sublease/lease termination strategy.
Burnett and Rayburn needed to market the existing space to a new subtenant while simultaneously hosting lease buyout discussions with the landlord. In addition, it was imperative to identify a realistic timeline for relocation, identify and tour qualified market alternatives, design the premises, and negotiate a lease for a new location.
The client relocated six-months prior to their existing lease expiration, saved 23% on the initially quoted new building rental rate, negotiated a full tenant build-out, and secured a moving allowance in excess of $100,000. In addition, the client was successful in terminating the former lease agreement 5-months prior to lease expiration saving approximately $95,000.
If you’re interested in relocation, Lowrey Burnett and Justin Rayburn are here to help. Contact us today at Fountainhead Commercial to ensure you secure the right space, at the right space.
A medical client needed to relocate its marketing team and distribution center in order to launch a new business line. They enlisted the help of Justin Rayburn, to quickly find new space.
Rayburn was tasked with quickly identifying flex office options within north Denver and the I-36 corridor, for immediate occupancy.
In order to launch the new business line, the relocation needed to happen within 30-45 days.
Over 30 properties were identified and 4 ideal and viable alternatives were selected and toured within five-days of notice of the requirement. The top option from the tour was selected and a letter of intent was negotiated within 15-days of engagement. The client had a fully negotiated lease within 35-days and took occupancy of the new premises on the 47th day.
Justin Rayburn, tenant representative, successfully identified, negotiated, and secured a new space for the marketing and distribution team. If you’re interested in relocating, but don’t have the time or knowledge to find a new space, contact us at Fountainhead Commercial. We’d be happy to help in your search for a new space.
As a business owner, you have a lot of pressing things to worry about, not the least of which is your office or industrial lease. For most business owners, the never-ending to-do list means enlisting the help of an experienced tenant representative when the time comes to negotiate a lease. As a CCIM-designated commercial broker, Lowrey Burnett of Fountainhead Commercial, has worked with a wide variety of businesses and business owners throughout the leasing process to include attorneys, accountants, financial services, oil and gas, engineers, fitness, product distribution, product manufacturing, contractors, marketing, medical, etc. As a commercial tenant, there are certain responsibilities that fall to you. The Fountainhead Commercial team has put together this guide to help commercial tenants make the right choices throughout every stage of the leasing process.