In a quickly expanding marketing like Denver, leasing office and industrial space without expert guidance from a CRE professional could be a potential threat to your operation. Whether you’re leasing your first space, or you need to negotiate flexible terms on a lease because your business is growing, you need a tenant rep who can help you navigate the process successfully. For most businesses, commercial real estate is at the top of the priority list, so tenant representation is a service you don’t want to write off. Determining what makes a tenant representative qualified to support your business, however, may not be as easy as some of the other elements of management. Here’s a few things you should expect when looking for commercial tenant representation services in Denver.
Key Commercial Tenant Representation Services in Denver
Commercial tenant representation services cover one of three primary tasks: renewal, expansion, or relocation. Depending on your needs, the process can look very different. Regardless of what primary service you need, an experience tenant rep in the Denver market is a necessity.
Renewals in Denver
Many tenants feel like their commercial landlord holds all the power when it comes to leasing office or industrial space in Denver. That’s not necessarily the case, though. Part of commercial tenant representation services include supporting the client throughout the entire process of negotiating the lease terms for your business. Whether that means identifying suitable alternative properties in the marketplace to gain leverage for favorable terms or negotiating specific flexibility into the renewed lease so your commercial lease space supports your business as it grows instead of confining it, an experienced tenant rep can help you prioritize your needs and negotiate a leas that reflects your needs.
Expanding in Denver
In some cases, businesses find themselves stuck between a rock and a hard place because their business necessitates an expansion beyond the scope of their current lease terms. Without someone you can rely on for tenant representation services in Denver, this situation can leave a business exposed because the options are limited. You can either buy out of your current lease or sublease the space and move, potentially facing a double rent payment if a subtenant is not found. An experienced CRE professional can help you navigate this complex predicament and present the best available alternatives to support your business’ short- and long-term goals.
Relocating In Denver
In other cases, tenants find that their current lease space no longer accommodated their needs. In this scenario, you’re looking at relocation options, instead of a renewal. Commercial tenant representation services in Denver can help you navigate this daunting process successfully. The fundamentals of relocating are not all that different than that of renewing a lease in Denver - you still need to do extensive research in the market to find available options, current rates, amenities, and more. Enlisting the help of a CRE professional ensures you have the expert insight you need to make an informed decision when relocating in Denver.
What Else Should You Expect From A Commercial Tenant Representative?
Ultimately, commercial tenant representation services will save you time, energy, frustration, and money. In most cases, this is done through identifying the perfect industrial or flex space within your budget while negotiating lease terms that support your business initiatives. There are a number of different factors that go into a tenant representative effectively reducing the workload and stress on you as the business owner. An experienced tenant representative is a strategic partner for any business in Denver. Let us tell you why.
- Tenant reps understand and adapt to your business initiatives - Developing a strategy that supports your business in its current state, as well as into the future is key to effective commercial tenant representation services in Denver.
- The always have a finger on the pulse of the market - As individuals, or even as an individual company, we have little, if any sway on the market, so understanding it is essential to select the right office or industrial space for your business. An experienced CRE professional will also be able to offer insights into macroeconomic influences and CRE cycles and trends, as well as local factors that could impact your space, including highway construction, infrastructure construction, and new developments. All of this can help your business make an informed decision.
- A commercial broker helps you create leverage - An experienced CRE broker has the knowledge and resources to advocate for your business throughout the research and negotiation phases of leasing a commercial space. Part of effective tenant representation services includes being able to position the company from the strongest negotiation point possible.
- Tenant representation services are concerned with your finances - You want to be sure to discuss all facets of your finances with your tenant representative, including things like cash flow, KPIs (Key Performance Indicators) for your industry and competitors, impact of newer FASB regulations on your financial statement, rental budget, corporate growth projections, and more. With this information, a commercial real estate broker can better guide you into an office or industrial space that is right for your budget.
- Tenant reps have extensive resources - One key benefit of tenant representation services that many businesses don’t realize is the extensive network of resources a CRE professional has. Not only do they have a pool of reliable channel-partners and service providers, including business attorneys, architects, general contractors, movers, and more, but they also have the right resources to support and promote FTE retention.
All of these elements are key to a CRE professional’s ability to offer the best tenant representation services, but they are not the only services you should be able to expect. Quality tenant reps will be responsive and proactive, helping your business navigate this process. Additionally, you can expect to see a tenant rep utilize exclusive systems and technologies that will give your business an advantage.
Commercial tenant representation services in Denver, Wheat Ridge, Golden, and other key metro-areas include so much more than property identification and lease negotiations. The expertise a tenant rep can provide to your business is essential to help your organization thrive in the local marketplace.
Fountainhead Commercial: Your Source For Tenant Representation Services In Denver
If you're running a business in Denver, a relationship with an experienced tenant representative is a luxury you can't afford not to leverage. Whether you're renewing an office lease in the Denver area or you need to identify an entirely new space for your business to occupy, you want the best commercial tenant representation services in Denver, which you can find at Fountainhead.
Contact our CCIM-designated tenant representative today to give your business the advantage it needs to succeed in the Denver market.