Tenant Advocacy – 90,000 sf Completed Tenant Advocacy Assignment for National Tenant
Challenges and Opportunity:
Society of Industrial & Office Realtors (SIOR) colleague from outside of Buffalo area contacted David for local survey and market overview for undisclosed tenant.
Very limited supply.
Aggressive asking rents in the market.
Current landlord needed the client’s current warehouse space and wanted tenant to move out earlier. Landlord offered to terminate the lease.
Assignment sent to David for the warehouse requirement.
Meeting with the tenant, detailed needs assessment completed.
Very specific location and fire control requirements.
RFP sent to the short-listed developers.
Accepted offer from top choice.
The “runners up” continued to be interested in the very well-qualified tenant. Continued pursuit.
Revised offers were received from the “runners up.”
Due diligence item at first choice failed to meet requirement. A backup option was already in place.
Completed long term, arm’s length, market rate lease for well-informed properly advised tenant.
For further information about creating competition in the market for your lease, expansion, or renewal, call:
David L. Schiller SIOR