When contemplating a commercial real estate transaction, it is necessary to establish a relationship with a number of service professionals. These people should be experts in their field and able to help guide the process. In addition to a commercial real estate broker, an attorney is a necessary part of a successful transaction.
Following shortly after budget and spacial needs (square feet), location is very important to many prospects when looking for a new office, retail site, or industrial building. However, it is not just the physical location of the site that is important, factors like demographics, accessibility, visibility, and proximity to referrals/competitors are very important.
The tenant improvement dollars differ based on a number of variables including motivation of the landlord or owner, other monetary negotiations such as sale price or rental rate, and other concessions the landlord or owner have made for this particular real estate transaction.
Many times companies start the real estate process on their own, looking for sites that interest them. They gather information by calling each property and the broker that represents it. Although this may result in the same end goal, it is often times not the most successful and time saving or cost saving method. Forming an exclusive relationship with one broker that will lead this process is very beneficial for a number of reasons.