TENANT REPRESENTATION

Find Your Perfect Space

Tenant Representation:

In providing our services the TeamFlorida Group, LLC team employs a Three Phase Action Plan to assist the client in all stages of the real estate decision process to reach the desired business objectives.

Phase I:

In general, our recommended approach on all Tenant Representative assignments is as follows:

a.         Review Clients Objectives and Plans.

• The TeamFlorida Group, LLC team will meet with Clients to define its project objectives concerning:

• Financial structure of the lease.

• Timing of the transaction.

• User group business strategy.

b.         Establish Team.

c.         Analyze Existing Lease 

• The TeamFlorida Group, LLC team will help the client define its office space requirement including:

• Amount of usable square footage required for the client’s immediate needs, short term and long-term growth.

• Optimum floor size, column spacing, core location and ceiling height.

• Specific technical requirements and mechanical systems, which reduce operating costs and alternative expenses.

• Preferred interior build-out style.

• Location & demographic profile of client’s employees.

Phase II:

a.         Coordinate and Establish Overall Initial Strategy.

• Review conclusions from Phase I information.

• Contact local Economic Development Council officials to pursue incentive programs.

b.         Survey of Market Properties. 

• The TeamFlorida Group, LLC team uses the most comprehensive and up-to-date market information on all properties.

c.         Selection of Suitable Properties.

• Identify all properties, which correspond to client’s requirements.

• Joint Review of Market Survey Report.

• Inspection Tours of Properties.

• Selection of most Suitable Properties.

d.         Technical Review of Properties.

• Preliminary space plan.

• Special operating requirements.

• Review of Improvements.

• Access to transportation.

• Business considerations.

• Evaluate and Select Short List of Properties.

• After reviewing the gathered information and inspections reports a report will be prepared which recommends a short list of properties for formal negotiation. Our recommendations will included the following:

• Financial cost analyses for each property.

• Construction comparisons of each property.

• Commentary on the landlords and managing agents.

Phase III:

a.         Create Negotiating Strategies.

b.         Conduct Negotiations.

• After review and discussions with the TeamFlorida Group, LLC team and the client an RFP (Request for Proposal) is submitted to landlords. Written proposal always address these issues:

• Base annual rental.

• Method of computation of operating and real estate tax escalation.

• Contribution by landlord for capital improvements and leasehold improvements.

• Rent-free construction period.

• Monetary incentives to lease.

• Short term and long term expansion options.

• Subleasing rights with respect to all/or portion of the space.

• Suitability of HVAC, mechanical systems and elevator systems.

• Rights for initial interior construction and future alteration.

• Non-disturbance and subordination.

c.         Analysis of Landlords Response to Proposals.

• Comprehensive financial analysis of responses.

• Updated Background on owner’s performance and financial history.

• Technical and location data from earlier analyses.

• Comparison of each response to a “model”.

• Final and best requested from all owners.

• Selection of Winning Property.   

d.         Finalize the Deal.

• The TeamFlorida Group, LLC team will finalize the negotiation and document the deal with a non-binding Letter of Intent.

e.         Close the Transaction.

• The TeamFlorida Group, LLC team will work with client’s attorney to facilitate lease signing. In cooperation with legal counsel and architect, the team will ensure that landlord’s attorney does not renegotiate the terms of the Letter of Intent.

f.          Follow-up Services.

• Team will monitor build-out.

• Team will monitor move-in.

• Team will welcome new space.