Why choose Space Advisors?
Whether you are a growing company requiring expansion space, a startup venture seeking its first location or downsizing current occupancy through technology utilization, finding the right home for your business is essential. Occupying too much space will reduce investor returns, squeezing into a constricting location impacts employee recruitment and company presence. Retaining a talented, knowledgeable advocate provides the guidance necessary to make decisions that will impact your bottom line now and in the years ahead. As a tenant or buyer of commercial real estate consider what your organization is up against in the search of a location.
Leading companies insure that their best interests are protected by retaining attorneys for legal counsel, accountants to assure of financial viability and retain a variety of consultants to ensure best practices are employed in the day to day operations that allow them to be successful. However when it comes to their facilities, one of the largest expenses for an organization after personnel, scarce attention is given to long term objectives or the fiduciary commitment of the counsel retained to advise on these matters.
Organizations search for facilities by assigning the search to a staff member that may have little to no experience. The financial risk to the end user is immense. Owners of commercial real estate are dedicated on delivering the best returns possible for the properties they own. It is their primary focus and as such they are expert in these matters. To provide the returns they seek, owners employ:
Brokers to lease/sell their properties
Attorneys to draft/negotiate the lease language
Contractors to build out tenant space as economically as possible
Architects/Space planners to design a space so that it can be re-leased with minimal changes
Against this team of real estate experts they are overwhelmingly in the Landlord/Owners favor.
Retaining a broker that works for a traditional “full service” brokerage brings its own set of issues. A tenant/buyer should expect that their interests are being represented in fiduciary manner. However, for most “full service” commercial real estate brokerages, representing landlords/sellers is the primary source of income. Owners of commercial real estate control substantially more space than any one tenant/buyer. Many such brokers promote their access to tenants as a means of gaining listings. By having representation from a “full service” broker, the tenant/buyer exposes their opportunity to achieve the best deal possible. How aggressive will your representation be if the landlord is a potential future client? Whose best interest is in mind if a listing belongs to the broker you engage or someone within their brokerage. Consider-would you retain an attorney also representing the opposition?
A knowledgeable tenant/buyer should consider these allegiances prior to engaging their representation.