Survey of Corporate Real Estate Users
Compiled by Michael Coretz
Dear Friends & Valued Clients,
We have prepared the following material and forms to help take the mystery out of site selection and lease negotiations. We hope you find it interesting and useful. Additional information and a full description of Lease Terms and definitions can be found in my book De-Mystifying Commercial Leasing or my website.
The following list of common mistakes is the result of a survey taken among members of the prestigious International Tenant Representative Alliance. Participants drew from an average of well over 15 years of Tenant Representation experience, representing and advising national and local commercial tenants with hundreds of leases totaling millions of square feet. Most major U.S. markets were included.
The main risks to consider when commencing the Facilities Acquisition Process (Lease or Purchase) can be broken down to the following three categories:
This includes the risk of making a bad location or operational decision, and whether you have the right lease clauses, which prepare for future, unknowable requirements such as business expansion, contraction or relocation needs.
How much time is going to be spent on the Facilities Search and Acquisition process, and what will it cost the company in terms of lost productivity?