Regardless of a company’s position — whether it’s facing a near-term lease expiration, needs to expand its facilities or dispose of surplus space — our Tenant Representation division can develop creative real estate strategies that go well beyond typical brokerage services.
Space analysis and future planning
Our division analyzes a company’s current usage of space and whether it can meet their future capacity requirements. In order to determine whether a renewal or relocation best suits a client’s needs, we abstract their lease and benchmark the remaining obligation against prevailing market conditions, both at the submarket and building level.
Enhanced negotiating strategies
We increase our clients’ negotiating leverage—whether or not they ultimately choose to renew or relocate— by identifying alternative location options. We produce a short list of alternatives and corresponding negotiating strategies based on our knowledge of the market, client’s operational requirements and qualitative considerations, and the financial position and reputation of each building’s landlord. Once the desired location is identified and the most favorable lease terms are negotiated, we stay closely involved to coordinate the ancillary activities associated with a renewal or relocation.
Creative solutions for excess space
For those companies with a remaining lease obligation on space that is no longer necessary or financially prudent, we create unique solutions to improve their situation. We develop strategies based on market conditions and an exhaustive analysis of the landlord’s financial position on the property, including, but not limited to, the underlying mortgage, tax burden, operating expenses and anticipated vacancies. We negotiate for our clients in the restructure of an unfavorable lease or, if necessary, assist in the disposition of excess space through a sublease, assignment or early termination.
We offer a comprehensive suite of Tenant Representation services, including:
- Acquisition and disposition
- Comprehensive lease and sale negotiations
- Construction supervision
- Economic incentive analysis
- Financial and market analysis
- Lease auditing
- Project management
- Strategic planning
- Site selection
In addition, Newmark Knight Frank also provides ancillary services, including lease auditing, project management and construction supervision.