Clients sometimes think that all a Dallas office tenant representation broker does is show office space and nothing could be further from the truth. The fact is, that after the top spaces are selected by our clients the work really begins.
We will arrange a space planning meeting with the chosen buildings architects. This process can take a few days but gives the client a good understanding of how the space can be designed to meet their needs. Space planning is an important step because the space plan will be used in the construction allowance negotiation. We don’t want our clients to pay for the construction expense and a detailed plan is one important tool we use to help avoid this expense.
Our goal is to treat all parties to the transaction with respect and fairness. Therefor we prepare a detailed request for proposal that addresses all the issues that were discussed in the office space analysis phase of our meeting with the client and the team.
Some Standard Request For Proposal Items
- Rights of First Refusal
- Office Sublease Requirements
- Operating Expense Pass Throughs
- Renewal Options
- Construction Plan
- Commencement Date
- Lease Term
- Operating Hours
- Early Termination Option
- Attachment of a desired space plan
Obviously there are more items that will be covered in the request for proposal and our client’s requirements will also be addressed. Normally the request for proposal takes about three business days to be answered by the landlord. We take this information and place it into customized analysis software that gives our clients a simple way to analyze the economics and the advantages and disadvantages of each Dallas office building.
Using this information it is easy to see the exact economic difference between each offer. We use this information to make our counter offers to the buildings that we want to continue to pursue. We will write counter offer and usually get a response within three business days.
Again we analyze these offers and decide if another counter is necessary. If it is we will send one and repeat the process. After three iterations we normally have a solid offer we can except. The time has come to have the landlord draft an office lease for our review and more importantly our attorney’s comments.
There are many excellent attorneys in Dallas. You may choose to use your own and that is acceptable. However it is always good to work with a specialist. We can provide you with several references for real estate attorneys that you can interview to decide which attorney works best with your company.
It is always a good idea to have a competent attorney review the lease. The landlord certainly paid a quality attorney to draft the lease and they were not instructed to look out for your interests.
It is not legal for use to practice law. However we can work closely with your attorney to assist him or her with market conditions. We have helped many attorneys reformat a lease so that our clients get a better lease than they would have without our help. Attorneys know the law and we know the Dallas office market.