The Office Leasing Process

The office leasing process can be a frustrating experience. An important key to a successful outcome is to make sure you allow enough time to find, negotiate and to allow for any tenant improvements that will need to be completed before moving in. An experienced and reliable Office Tenant Representative can make a huge difference in the successful outcome of your acquisition of office space.

In the long run, you will end up way ahead in not only the rent you pay but also in avoiding mistakes. They know the office leasing process and will be able to ensure you don't make any costly mistakes. Don’t be afraid to ask your prospective brokers questions to make sure they can perform for you. Find a Tenant Rep.

Leasing Process and Timing

1. Define basic space requirements: 1 day Size and layout (office space calculator) Expansion and option space Price and term (market Information) Image and quality Geographical area Intangibles and goals

2. Selection / interview with support team: 1 to 7 days Space Planner Interior Design (if desired) Attorney / CPA

3. Determine alternatives available: 7 to 14 days General market knowledge of "deals" available Search of database Verification of terms and conditions Review list of alternatives

4. Narrow down alternatives: 7 to 14 days Inspection tours of likely alternatives Selection of 3 - 5 best alternatives Space planning of best alternatives Review and re-draw of space plans Selection of top 2 - 3 alternatives Request for proposals on top alternatives

5. Analysis of proposals and alternatives: 1 to 7 days Financial analysis Layout efficiencies Intangibles and goal analysis

6. Final selection: 7 to 30 days Choose top alternative Establish terms required Prepare and present counter-offer Approve, re-negotiate, or select other alternative Review lease for business points Review lease for legal points Review Workletter Re-negotiate lease terms Sign lease

7. Tenant improvement build-out: 30 to 120 days Monitor progress Report progress Final walk through check

Time to Allow

Before Tenant Improvements: 24 to 103 days

Including Tenant Improvements: 54 to 194 days