The Purchase Process

The number of purchase options on the market can be quite overwhelming. By using O'Donnell Commercial Real Estate Inc.’s trusted process for purchasing commercial real estate, clients can quickly narrow their choices, while their broker will negotiate for the best sales price and overall terms.

Here are the steps we follow when you purchase a property with O'Donnell Commercial Real Estate Inc.:

  1. Determine Your Needs
    • Review existing space and discuss exit strategy (When does lease expire? Does current location need to be sold?)
    • Determine your size requirements
    • Define your desired location
    • Discuss your budget – meet with banker if necessary
    • Discuss your timeline – include necessary construction time
  2. Provide Options
    • Broker prepares list of available properties and “out of the box” opportunities that meet your requirements
    • You and your broker discuss options and coordinate a corresponding tour based on your selections
  3. Tour the Properties
    • View selected properties
    • Discuss your needs and the potential construction costs of each property
    • Narrow the properties to a “shortlist”
  4. Negotiations
    • Your broker prepares non-binding negotiating documents for selected properties (see RFP and LOI examples) and financial analysis (see example analysis)
    • You and your broker review all appropriate costs
    • Your broker negotiates for your best business terms
  5. Final Property Contract
    • Your broker works with an attorney to review your contract
  6. Follow Up
    • Your broker remains involved throughout the construction and move-in period, monitors critical dates, and maintains a relationship with you