Top Tips for Negotiating Commercial Leases - #8 Never Talk to Your Landlord Again - 02/21/11 02:18 PM
If you are sued and you hire an attorney to represent you, who does the talking in the courtroom? Would it make sense for you to call the plaintiff's attorney or even the plaintiff directly to discuss the case? The answer is obviously no. 
It’s the same in any negotiation in which an agent or intermediary is hired by a principal. You can't successfully negotiate if there are multiple people contacting the other side. Not everyone would have the same information when needed. 
So it's important that your tenant representative (corporate real estate advisor) be the single point of contact for … (0 comments)

Top Tips for Negotiating Commercial Leases - #7 Engage a Tenant Representative Broker - 02/17/11 06:20 PM
As you can probably guess, this is my favorite tip. So while I have this as tip #7, it actually is the first thing taht you should do before you do anything else. Don't contact any landlord, not even your current landlord, before selecting and engaging a tenant rep.
The rental rates landlords quote already include a fee for your representative. So if you don’t use one, it’s like paying for a service that you don’t receive. The landlord may offer to reduce the rent by the amount they would have paid a broker, but if the landlord is so willing … (1 comments)

Top Tips for Negotiating Commercial Leases - #6 Use a Proposal Comparison Spreadsheet - 02/14/11 01:03 PM
Using a proposal comparison spreadsheet has many benefits, but the most important one is that it helps to keep you focused on what really matters. When you get deep into the search for the right property and are negotiating with several landlords at the same time, it's pretty easy to overlook details. And sometimes the detail you overlook may be one which you said we really important when you started. With a comparison spreadsheet, you can list all the important criteria and then start filling it in as you get proposals. If something is missing, it's easy to see it.
Make each … (0 comments)

Top Tips for Negotiating Commercial Leases - #5 Create a Bidding War - 02/07/11 06:44 PM
Scarcity is the basic economic problem that arises when someone has unlimited wants but limited resources. And guess what? Tenants are the resource that landlords want the most. I don't care if you are in Dallas, Plano, Frisco, Richardson or Tokyo. Landlords are the same. Tenants create value in their buildings.
So it's important to create a bidding war for your business. This requires that you have several lease alternatives (real or perceived) and that all landlords know that other options exist. Get proposals from each. Talk to them about certain features of other proposals you have been able to get. Even … (2 comments)

Top Tips for Negotiating Commercial Leases - #4 Never Tell the Landlord You Prefer to Renew - 02/03/11 06:21 PM
You always compromise your negotiating position if the other side knows you really want what they have.
A friend of mine who is a landlord leasing agent told me that he was showing office space to a Fortune 100 company once in Dallas, Plano or Frisco - I can't remember which. When the company man got off the elevator and walked into the space he exclaimed, "this is perfect. I love it." Negotiations stopped right there. My friend knew he didn't have to make any further concessions.
So make sure the landlord (leasing agent) knows you are checking the market … (0 comments)

 
Bob Gibbons (REATA Commercial Realty, Inc.) Rainmaker_large

Bob Gibbons

Plano, TX

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REATA Commercial Realty, Inc.

Address: 1211 E. 15th Street, Plano, TX, 75074

Office Phone: (972) 468-1946

Cell Phone: (972) 984-8580

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Anything and everything related to corporate real estate - a company's use of real estate. This is usually a company's lease or purchase of office, warehouse or retail space.


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