ITRA Global News

Top 5 Reasons to Hire a Dedicated Corporate Real Estate Advisor

September 16, 2022

All businesses hire vendors to complete projects, tasks, and objectives. In some cases, the business needs outsourced expertise. In other cases, the business might not have the necessary people needed to accomplish its objectives in a timely manner by using in-house personnel. Regardless of the reasons, hiring vendors is a natural course to leverage resources outside of the company in order to complete certain tasks and objectives. 

When it comes to commercial real estate leases, purchases and sales, businesses should retain a dedicated corporate real estate advisor to ensure their interests are protected and their objectives are achieved. Why? We have five good reasons:

  1.  Subject matter expertise of commercial real estate, trends, construction, documentation, and negotiation tactics
  2. Market expertise across product types, often in multiple markets on leases and sales
  3. Financial benefits obtained in the form of lower rent, lower purchase price, higher concessions, or avoidance of potential costs
  4. Resources and networks providing your company with current availabilities in the market, including pocket and other unpublished listings, along with actual rental rates and concessions available
  5. Risk mitigation

Some businesses are finding out the hard way that searching for available properties and negotiating leases or purchases on their own takes a very long time. The internet is full of outdated listings with old rental rates and spaces listed for lease that are no longer available. Much time is wasted pursuing dead ends, so outsourcing to a real estate expert makes the best financial sense. Working with a dedicated corporate real estate advisor streamlines the space-finding process so businesses don’t waste time on phantom spaces. 

A good real estate transaction is the gift that keeps on giving while a poor real estate transaction can bring about years of ongoing costs and headaches. If your company has one or more leases expiring soon and you would like to explore adding flexible clauses into your lease negotiation, please CONTACT US. All ITRA Global members exclusively serve tenants and occupiers of commercial real estate with a globally connected network and local expertise on five continents.

Our Difference is Your Advantage.

Article Submitted by Wayne Teig, ITRA Global l Minneapolis-St. Paul, Minnesota USA

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