Over $100 Million Saved For Tenants

Over $100 million
saved for tenants

The team at Commercial Tenant Real Estate Representation Ltd. saves money for tenants because they spot more lease problems than any other brokerage firm. They do this by bringing to bear expertise in real estate markets, expertise in building operating systems, expertise in real estate law, expertise in real estate taxes, expertise in landlord accounting practices and expertise in tenant buildout. Altogether, CTRR has saved tenants over $100 million.

* We helped a national law firm cut their lease costs by $4.5 million. We've helped three other national law firms achieve lease cost savings that run as high as seven figures. Obviously, such law firms have substantial transactional expertise, but they focus on different issues than we do, which means we identify lease traps that might otherwise be missed.

* We saved a tenant $12 million when we negotiated a single lease term.

* In one 50,000 square foot lease, we negotiated over 25 significant concessions from the landlord. A single one of these was worth more than $900,000 to our client.

* In a 100,000 square foot headquarter's relocation, we negotiated a $3 million buy-out to reduce our client's costs.

* After regrettably retaining a famous landlord broker which claimed to be a tenant representative, an international transportation company brought us on board at the last minute to help close a headquarters move. We negotiated a couple dozen concessions to save the company millions. And we alerted the chairman about how the landlord broker representing them was trying to double their compensation at the company's expense by billing the them for a 10-year commission on this five-year deal -- while stubbornly refusing to supply documentation.

* We negotiated another transaction which cut a tenant's occupancy costs by almost 50% -- with no reduction in the amount of space they occupy. Their rent remained below their then-current rent and below target levels for almost 10 years.

* For a high-tech client that sought to renew at its current location, we identified viable alternatives, including build-to-suits. We overcame the landlord's attempt to treat the tenant as a captive market and saved them about $2 million during their next lease term.

* We helped a rapidly growing media company cut its occupancy costs despite a near-term lease expiration. We structured a lease in a class A building, securing strong expansion and termination rights. This company is now paying several dollars per square foot less than what other tenants in the area are paying. Overall, the savings we achieved were more than 10 times our fee.

* For a medical services company that sought to renew its headquarters space, we demonstrated how the landlord's offer did not reflect market terms, including non-rent factors as well as rent. In this case, too, the savings we negotiated exceeded our fee more than 10-fold.

* In a consolidation -- 16 locations into one -- our client benefited from over $35 million in real estate savings.

* In the final negotiating phase alone, we negotiated more than 30 concessions -- savings in the tens of millions -- for a $60 billion institutional tenant.

Landlords routinely factor about a dozen costs into your rent, including their mortgage, real estate taxes, insurance, utilities, security, capital expenses, landlord broker's commission and tenant broker's commission. If you don't retain a tenant broker, the money goes to a bigger commission for the landlord broker or stays in the landlord's pocket, enhancing his return.

For 3 to 5 cents out of every dollar, Commercial Tenant Representation provides protection far beyond the capabilities of a good lawyer who naturally focuses on legal issues. For instance, CTRR can provide:

Comprehensive market surveys, to report the pros and cons of sites which best suit your specifications.
Confidential landlord reports, to inform you about the level of tenant satisfaction/dissatisfaction in buildings you're interested in, the financial ability of the respective landlords to fulfill their obligations and any indications that they violated the leases of other tenants.
Lease analysis, to identify hidden costs in landlord draft leases and to estimate the total lease term costs.
Lease negotiations, including crucial business issues often missed by attorneys.
Workletter negotiations, to independently value what a landlord offers, negotiate sufficient value for your initial buildout needs, and negotiate workable construction procedures.
On-site follow-up after your lease is signed, to make sure you get what we bargained for.
Lease audits, to determine whether a landlord has honored or evaded the terms of your lease, to negotiate the recovery of any overcharges due you and to develop landlord performance benchmarks so you'll know what additional protections your company might need in the next lease.
Real estate tax challenges, to develop a case for lower real property tax assessments, if applicable, and negotiate tax reductions.
Lease administration, to help establish and/or monitor systems for administering a portfolio of leases across the United States.

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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