Consider how CTRR helped a downsizing company get generous lease terms.  This tenant had specified an 80,000 square foot requirement, but as their situation changed, they scaled it back to a modest 10,000 square foot administrative operation.  Although the tenant was a respectable name, they were financially weak -- not in a good position to get many concessions from a landlord.

     We started work four years before their current lease expired, because the earlier a tenant starts, the greater the bargaining leverage.  

     Considering the tenant's stringent operational requirements, we prepared a broad market survey covering several hundred buildings in three different sub-markets.  We screened prospective locations for a suitable configuration, sufficient natural light, acceptable building systems, ease of access, availability of parking, low initial rent, probable long-term cost of escalation formulas, and value of the tenant build-out.  We conducted site inspections with the tenant at three dozen buildings and prepared substantial financial analyses on a dozen of them.  We pursued serious negotiations at three sites.

     We persuaded one of the landlords to assume $1 million of buyout costs from the company's old lease.  We got the landlord to offer a starting rent $4 per square foot lower than their previous best offer, plus a workletter $10 per square foot above market. 

     We structured a strong lease for this tenant because we started early; we weren't tied to a particular landlord's building; we shopped the market thoroughly; we knew what to ask for and how to implement it in a lease that will protect this company over the long term.  No landlord or landlord broker will put terms like this on a platter for your company.

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CTRR serves commercial tenants exclusively nation-wide,
providing real estate brokerage & consulting services 
to help cut occupancy costs

Commercial Tenant Real Estate Representation Ltd.
12 East 41st Street, New York, NY 10017
Phone (212) 684-4400     Fax (212) 684-4403    
email mmanley@ctrr.net

Copyright (C) 2005 by CTRR Ltd.
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