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Brochure-Office-Services

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Office Services: Tenant Representation

A lease or purchase means more than simply securing the space where you do business. Leases and purchases of space are often landmarks in the lifetime of a business, marking a significant investment of time and resources in your building’s physical space, which will have an impact on your business long-term.

A lease and other real estate costs are often the second-greatest expenditure for a business after payroll, so it must be more than a cost center and Colliers Brokers strive to make your real estate a competitive advantage.

Whether your company operates in one location or hundreds, Colliers Tenant Representation Brokers take the time to understand your concerns for cost, stability and flexibility. Colliers brokers also audit to ensure contracts are properly administered, and systematically manage your lease agreements to ensure they support your business strategy.
Our Tenant Representation brokers cover the following important factors to minimize your risks and help secure the best space that represents your business needs.

a) Strategic Inputs : Many companies experience unexpected growth or contraction from market cycles, acquisitions, new product or service growth, changing leadership and the changing competitive landscape. This can affect how a company may look in about 5 or 10 years from the date of leasing space

Our Tenant Representation brokers help you assess how long-term factors such as these - even if they are unknown now - will affect your current lease or purchase scenario. We bridge the gap between tenants and landlords to help business owners retain flexibility to make strategic moves that make sense for their business, with your lease or purchase terms supporting rather than constraining these decisions. This flexibility also covers the tenant from any re-negotiation strategies that may impact the current business in a positive manner in a business / market cycle.

b)
Brand Elevation : A lease can be transformative for a business brand, elevating your image through the building’s own prestige or through proximity to other top brands or service providers. For example, many businesses that pride themselves on sustainability are choosing green buildings and energy-efficient options to enhance their overall brand image. Our representing brokers would provide enough information to bridge this gap for you to choose the right product for your business

c)
Integration of Colliers Services : Colliers Representing brokers can advise you on the efficiencies of careful space planning, assisting in capex reviews, primary technical specifications to measure the impact on quality, time and cost of the project by successfully integrating Colliers professionals from our Advisory, Project Management and Facilities Management teams thus uniting your teams for greater productivity. Through careful space planning, businesses can engineer how their employees interact both professionally and casually, creating unexpected collaboration and input that can spur creativity, enhance product design, accelerate a project or improve corporate culture.

d)
Tactical Inputs : Location of your office can radically affect your business. Our representing brokers help you understand the integral approach in any business to location to better target your optimal space.

· Location for clients: Clients can be influenced by the smallest factors, from a company’s proximity to another frequent destination to a building’s frustrating parking arrangement. Our tenant tours will help you uncover these unadvertised assets - or detractors - that can sway your clients.

· Location of resources: Manufacturing and distribution companies are especially concerned with a proximity to vendors, suppliers and arterial roads.

· Location of employees: Location can be a major factor to attract and retain your greatest business assets—your people. Proximity to public transportation and daycare, access to lifestyle amenities such as green spaces and entertainment venues all contribute to your employer brand.

Our Tenant Representation brokers can create mapping scenarios to calculate the most preferred location for your business as per the spread of your employees and also change in commute times for your employees as a result of a move.

Colliers International follows a phased approach for property acquisition by integrating our Project Management and Facilities Management teams to achieve best possible value for the Tenant’s Real estate requirements.

During Phase I :
The representing broker will review lease requirements, develop need analysis, benchmark and analyze it to provide a solution that best meets the Tenants requirements. Our Project Services (PM) team will be engaged to ensure all technical requirements are well understood at this stage. Their inputs on defining preliminary technical specifications and space adequacy / optimization will help in formalizing the specific requirements. This will further help in estimating CAPEX requirements.

Phase II
: Would involve Colliers representing broker to compile a complete list of all potential market options which meets the Tenant requirement. Once a list of compatible options has been collected, Colliers representing broker will benchmark and analyze on a financial and non-financial basis. Colliers representing broker will conduct a thorough developer / landlord evaluation process and provide recommendations. Colliers PM team will carry out technical due diligence of the short-listed properties. The intent of the review is to analyze space efficiency, suitability of base build to Tenants requirement and to identify opportunities & challenges and their impact on the time, cost and quality on the fit out works.
Colliers representing broker also brings in Facilities Management (FM) team at this stage of the process. The FM team checks the shortlisted properties for best quality of maintenance, health and safety and physical work environment in place. A basic due diligence on the property options for compliance with local laws & regulations is also conducted.

Phase III : Colliers representing brokers develops a clear negotiating strategy to identify certain ‘must have’ provisions and those that are deemed “less important” and could possibly be traded off during the negotiation process. All commercial issues and technical building issues are negotiated with the short-listed parties to identify any “deal breakers” in advance. Key lease terms /Agreement Terms identified previously are negotiated to form a detailed Letter of Intent including: Lease Term , Lease Flexibility, Rent/Overall Cost Reviews, Management Charges, Minimum Standards required for the operation of the premises. This process is supported by the Colliers FM team wherein they will provide inputs on key considerations like CAM charges and deposits, facility operations management, logistics support etc. This helps a Tenant take more informed decision while selecting the property.

India
Colliers International | Mumbai, Indiabulls Finance Centre, 17th Floor, Unit No. 1701, Tower 3, Senapati Bapat Marg, Elphinstone (W), Mumbai 400 013, Maharashtra, India | Tel: +91 022 4924 9780