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TENANT REPRESENTATION PROCESS
We follow a disciplined, precise process to manage the entire tenant
representation project. Essentially, there are three primary phases
collection of data, development of the strategic real estate plan, and
plan implementation.
PHASE ONE: COLLECTION OF DATA
The initial phase involves a meeting, or series of meetings, with the
clients senior management and facilities team to review and evaluate
needs for both the short and long term. This primary information is then
supplemented with pertinent data from the Colliers Tenant Representation
Team and Market Research Team. Our strong
presence in the market allows us to easily obtain additional market
information that will affect the clients real estate decisions.
Primary Data
Client Interviewing/Meeting
Gather data to assist in development of the strategic Real Estate Plan
Transaction structure
Time line
Current lease analysis
Space program
Efficiencies/workflow
Desired amenities
Location considerations
Business image
Secondary Data
Market Data
Rental rates
Land cost
Building cost
Construction costs
Taxes/Operational Expenses
Public utility services and costs
Absorption trends
Government subsidies
Industry Data
Analyze market trends
Current vacancy and absorption
PHASE TWO: DEVELOPMENT OF REAL ESTATE PLAN
The planning phase involves a careful examination of all the issues that could
affect the clients real estate decision. After careful analysis, Colliers
develops a strategic real estate plan that includes a situation analysis
featuring property criteria, economic projections, and a well-defined list of
project objectives and strategies. The plan also lists project tactics that
incorporate identification of a project team and a recommended timetable.
Analyze Data & Develop Situation Analysis
Develop Real Estate Objectives
Quantitative (Analyses of amounts and proportions)
Qualitative (Comparison based on qualities)
Develop Real Estate Strategies & Tactics
Project criteria
Project timeline
Project team (Engineer, Architect, Contractor, & Broker)
Budget
Financing
PHASE THREE: PLAN IMPLEMENTATION
Identification of Property Options. Based on the plans specific criteria and
objectives, we work with our research team to survey and identify appropriate
property options. From those results, we use our knowledge of the market to
narrow the list by comparison to our objectives and criteria, then develop a
final description of options for presentation to the client.
Qualifying Property
Options. After a final list of choices is confirmed, Colliers will create a
Request for Proposal, giving the selected properties a format for responding to
economic, business and legal questions.
When the RFPs are returned, we prepare a
tenant lease analysis including technical property data, a financial analysis,
property information checklists and, most importantly, a subjective comparison
of the selected properties. Colliers then assists the client in identifying the
most suitable property.
Lease Negotiations. For many clients, the most
intimidating aspect of the process is the negotiation of a lease. Colliers will
guide the client through establishment of terms and conditions of an offer to
lease, negotiate the lease with tenants legal counsel, and see it through to
final signatures.
Identify, Analyze & Narrow Real Estate Choices
Market survey
Narrow list of qualified properties
Present initial recommendations to client
Inspect properties
Prepare and submit requests for proposals
Analyze proposals (subjective and financial)
Recommend finalists
Lease Negotiations
Negotiate terms
Letter of intent
Oversee space plans
Construction cost estimates
Lease execution
Construction/Design Management
Monitor space design and construction
Manage punch list
Oversee equipment and furniture installation
Disposition of Real Estate
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