Five
Steps for Successful Office Relocation
Initial Analysis
Choose
a Brokerage Firm
Review Current Status
- Expansion Needs
- Lease Expiration
- Current working budget
Set Requirements and Objectives
- Square Footage: Current and
Projected Growth
- Location: Downtown and
Suburban
- Time Frame: Occupancy Date,
Lease Duration
- Financial: Preliminary Budget
- Work Flow and Layout
- Features: Environment,
Quality, Amenities, Access,
Security, Parking, Etc...
- Management Concerns
Select Broker
Set Strategy and Criteria
Choosing Alternatives
Market
Assessment
- Trends, Supply and Demand,
Vacancy, Absorption, Rents,
Recent Deals, Concessions,
Etc...
- Accurate Perception of Market
Overview
- All logical alternatives in
detail (brochures, maps,
building specifications)
Inspection Tours
Proposal Requests
Landlord Proposals
- Business, Terms, Workletter,
Sample Lease Floor Plan
Select
Preliminary Space Plan
Comparison and
Evaluation
Physical
Analysis
- Quality: Configuration, Finish,
Lobby, Elevators
- Floor Size: Configuration,
Adaptability, Views
- Tenant Improvement Package /
Workletter: Lighting, Doors,
Ceiling, Height, Carpet, Wall
covering, Etc..
- Mechanical systems: Heating and
Air Conditioning, Engineering,
Evaluation
- Ownership
- Management: On-site, Off-site
- Amenities: Parking, Access,
Transportation, Restaurants,
Security, Etc...
Financial Analysis
- Rents: Effective, Rentable
versus Usable, Escalations
- Operating Expenses
- Quality Value: Concessions,
Allowance, Above Standard,
Improvements, Lease Takeover
- Options: Renewal, First Right
of Refusal, Expansion
- Sub Leasing Rights
Final Review, Selection
- Pre-approved by Senior
Management
Negotiations
Preliminary
Estimates on Construction Costs
Negotiate Business Terms
Execute a Letter of Intent
Negotiate Business Terms
Settle on Space Plan
Review Lease, Negotiate Terms
Final Management Approval
Lease Execution
Construction And
Occupancy
Landlord's
Architect Prepares Drawings, Obtains
Permits
Negotiate Business Terms
Furniture, Telephone, Equipment
Ordered
Space Construction
- Planner Monitors Build-out
with Broker
Occupancy
- Furniture, Equipment,
Accessories
- Follow-up "Punch"
List
Office Opens
Use this checklist as a guide for your steps in relocating. For further and more personal assistance, please call Tom Greenwood at 315-432-8100 or email at tom@gcir.com.
EMAIL:
tom@gcir.com
PHONE: (315) 432-8132 FAX:
(315) 432-9100 |
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