There are many critical, interconnected tasks involved in finding, leasing, and moving into a new office. A tenant representative can simplify the process dramatically by completing and/or managing every step.
Alternatively, if you choose not to engage a tenant representative, you or your staff can use the following checklist to ensure a well-managed move.
Determine Your Needs
- Calculate the amount of square footage you’ll need.
- Determine the type of building that best suits your business and brand.
- Choose your preferred geographic location and neighborhood.
- Establish your rental expenses budget.
Identify Potential Properties
- Conduct a thorough market survey of available properties meeting your requirements.
- Create a checklist of criteria to help objectively compare the advantages and disadvantages of each property.
- Narrow the list by excluding the least desirable properties.
- Schedule a property tour for each of the remaining facilities.
Tour Potential Properties
- Take a guided tour of the prospective properties, noting and documenting specific features of each.
- Identify a short list of two or three properties that best meet your criteria.
- If necessary, revisit specific properties to gather additional information.
Begin Preliminary Space Planning
- Engage a space planner or architect to help determine the most efficient use of space at your two or three top building alternatives.
- Finalize the general type and the scope of the changes required.
- Establish the estimated cost and duration of construction and remodeling.
Send Out Requests for Proposal (RFPs)
- Prepare and distributed Requests for Proposals (RFPs) to the landlords of your top two or three building choices.
- Make sure that the information provided for and requested from each landlord is consistent so that you can clearly and fairly compare the responses.
Select a Building or Space
- Prepare an objective analysis to evaluate the RFP responses received.
- Based on the RFP analysis and the preliminary space plans, determine which space would be the best alternative for your business.
- Send a Letter of Intent to the landlord of your selected property outlining your preferred lease terms.
Negotiate and Finalize Lease Terms
- Request the first draft of the lease from the landlord.
- Review this draft with your commercial real estate broker, the decision-maker(s) from your company and your real estate attorney.
- Renegotiate lease terms until they are acceptable to all parties and sign the lease.
Schedule and Manage Remodeling
- Begin the build-out of your new space.
- Monitor construction progress throughout the build-out period.
- Perform the final walk-through of the remodeled space.
- Have the Certificate of Occupancy delivered.
Move Your Office
- Notify all customers, vendors, and associates of your new location and change in contact information.
- Select a project team to coordinate details and communicate with moving vendors and contractors.
- Arrange for interim back-up coverage to minimize disruption for customers.
- Move all furnishings and equipment.
With Karen Warner as your tenant representative, you stay focused on running your business throughout the move, secure in the knowledge that your interests are protected and no logistical details are falling through the cracks.
"My business strategy is simple: your best interests are my best interests."
Karen WarnerColliers International
755 W. Front Street
Suite 300
Boise, ID 83702