Lease Renewal Management – get more instead of settling for less
Lease renewal can be a tricky process fraught with nuances, miscues and pitfalls. Hoping that tenants sign on for another term without fully understanding all of their options, unethical landlords may wait until the last month of a lease term before discussing renewal options. This unfortunate practice invariably leads to tenants settling for less than favorable terms for a property that doesn’t fit their needs.
The Lease Renewal Experts
As a brokerage that specializes in lease renewals, MCG focuses on giving tenant clients every advantage and opportunity. Often, our experienced brokers begin the renewal process 12 – 24 months before a lease expires, buying clients extra time to make informed, unpressured strategic decisions.
Insight That Only Comes From Experience
Whether you want to purchase a building, lease new space, or renegotiate unfavorable or complex lease terms, MCG advisors gain an in-depth understanding of your goals, needs and budget before recommending a course of action.
To ensure that your transaction serves your long-term needs and interests, MCG Commercial’s advisors explore with you these key details and others prior to structuring a deal:
- Necessity: Is a move really necessary? Or would restructuring your existing lease prior to expiration be a better option?
- Timing: Is there an existing lease expiring that may adversely affect your return?
- Current & Future Staffing: Where does your workforce live? Where will future staffers come from?
- Space-use Efficiency: What is the optimal space plan for maximizing your current and projected workflow?
- Strategic Location: Is there a locality that will help increase company productivity or put you closer to key partners or suppliers?
- 3-5 Year Growth Plan: How does your company’s expected growth affect future facility requirements?
- Downsizing: Is it more prudent to scale back and remain at your current location? (MCG Commercial’s advisors can help with the negotiations prior to your lease expiring.)
- Succession Planning: How will unexpected growth impact your space requirements?
- Disposition of Space: If an exit strategy is needed, do you have one in place?
No Obligation Consultation or Needs Assessment
To learn more about purchasing or leasing commercial property in today’s market, contact one of our brokers at 949.625.6400.