Occupier Representation: Not Just For The Big Fish
Great space isn't reserved for the biggest companies!
Over the past 30 years, tenant representation has become a crucial part of the commercial real estate industry. At Cresa Nashville, that’s all we do. There’s no company portfolio of buildings, and no series of landlords to answer to. We only represent occupiers of commercial space.
Many companies of all sizes and industries have relied upon our experienced tenant advisors to provide in-depth market insight, assistance with site selection, workplace strategies and negotiations for favorable lease terms. That’s what we do every day. We utilize our market intelligence, our experience and our knowledge of the market to make sure our clients are in the space that best fits their business needs, not just for now but also for the foreseeable future.
Many business owners share the common misconception that tenant representation is reserved for, or only needed by, large occupiers – those companies that need more than 5,000 or 10,000 square feet. This is not the case. Just as smaller companies differ from larger companies in terms of their business needs, so should their office lease requirements.
Starts-ups, for instance, are often faced with the challenge of the unknown. Their growth is sporadic, or they can find themselves growing quickly and cramped for space in a very short time. If a start-up owner tried to go it alone in negotiating an office lease, they may find themselves in a precarious situation where there’s no room for expansion or stuck with an unfavorable lease. Young companies also face many challenges when having to have to work through a complex office lease. They need to be able to fully understand what the market will allow in terms of flexibility.
New business owners really should hire a commercial real estate advisor at the same time they’re seeking legal and financial counsel. It’s our job to exclusively represent their unique needs, balancing their current need for space but allowing for future expansion.
Our market expertise pays off during the site selection process to locate vacancies in buildings that align with our client’s brand, budget and growth plans. Our market knowledge also pays off with negotiating favorable terms for new and growing companies. Start-up business owners are usually too busy taking care of business – doing the work – and running their company to know the nuances of the very complex commercial real estate market. That’s where we can take the load off our clients by negotiating the best terms for the best space and work with landlords on lease language, including termination options, first right of refusal and subleasing clauses.
Great space isn’t reserved for the biggest companies, and favorable leases aren’t just for those companies with teams of lawyers working through every sentence of a lease. Regardless of your size, a company’s real estate strategy is either an asset or burden. It’s our job, and especially when working with small-business clients, to make certain that the space, the lease and the timing is right for the client. We work hard to ensure the client gets the best situation possible to position the company for success in the near term and growth opportunities in the future.