California Commerical Real Estate
 |
Commercial Leasing Guide
A lease is a business relationship - an agreement between a tenant and a landlord. Although leasing Southern California
commercial real estate may appear simplistic, it is crucial to take these essential steps.
- Define your requirements
- The first questions to tackle are as
follow: "What am I looking for?" and
"What would suit me best?"From prerequisites such as deciding location to determining the property's prospective use, evaluating the space is critical.
- The first questions to tackle are as
- Locate suitable property
- After determining space requirements, a hands-on search begins. Locate suitable properties, survey the market, and narrow down the CRE contestants.
- After determining space requirements, a hands-on search begins. Locate suitable properties, survey the market, and narrow down the CRE contestants.
- Tour properties
- A property review and physical tour is the next step of commercial leasing. Since an expected lessee engages in numerous visits and tours, it would be beneficial to take notes on each property.
- Make a proposal to lease
- The proposal process consists of five elements: preparing a RFP (request for proposal), issuing the RFP to suitable properties, reviewing the landlords' responses, evaluating offers, and perhaps preparing a Comparative Lease Analysis.
- The proposal process consists of five elements: preparing a RFP (request for proposal), issuing the RFP to suitable properties, reviewing the landlords' responses, evaluating offers, and perhaps preparing a Comparative Lease Analysis.
- Space planning and architectural evaluation
- Negotiate the lease contract
- Negotiating may be tedious and frustrating. It is important to meticulously examine every aspect of the deal to avoid future problems. A checklist, legal involvement, and realization of tenant's resources are discussed thoroughly in this category.
- Close the transaction, and the mutual execution of a lease.
Your Commercial Real Estate Broker
If you have any questions regarding Southern California commerical real estate, please contact Joseph Dodge today. As your Southern California commerical real estate broker, you can be assured that we will always look out for your best interests. Please call or email today, and we'll be happy to assist you throughout your real estate transaction.