InterRelate Group focuses on the real estate needs and requirements of space occupiers. Relying on the foundation of our business philosophy, namely, building strong relationships with our clients, we first listen and understand overall business objectives, and we then develop and implement real estate strategies that create value.
Our goal is to enhance our clients’ successes by providing creative and cost effective solutions. Our tenant representation services are available for all varieties of acquisition and disposition transactions including leasing, subleasing, purchase and sale scenarios. InterRelate Group representatives apply their extensive transactional experience to the client’s immediate objectives while leveraging the firm’s knowledge of global real estate markets.
Transaction Services include Tenant Representation, Market Research and Consulting, Lease Administration, Investment Sales and Acquisitions and Agency Leasing. These interrelated disciplines converge to assure our clients the most comprehensive and professional real estate transaction representation available in the industry.
Current Situational Analysis
- Review of existing obligation documentation for options and rights.
- Determine basic business plan objectives interrelated to future expansion, contraction or other important factors.
- Analyze current trends and evaluate opportunities.
- Review of recent market transaction comparables.
- Conduct initial surveys of relevant candidate properties.
- Evaluation of local incentives
Project team assemblage
- Attorney, architect, engineer, project manager and other consultants
- Prepare Request for Proposal of each outside service.
- Review responses and prepare levelling document.
- Assist client with final selection and contract negotiation.
- Analysis of alternate properties
- Consolidate reports on candidate properties from outside services and consultants.
- Interface with current landlord to determine renewal opportunity.
Comparative analysis of existing vs. relocation opportunities
- Comparative financial analysis of all relevant alternatives including renewal.
Transaction Negotiation and Execution
- Issue proposals and analyze responses.
- Conduct initial negotiations to determine shortlist.
- Final selection and execution of lease documentation.
- Oversight of project team, comparison and ensure compliance of transaction terms and construction plans to final installation.
Typical Relocation Process Flow Chart
STRATEGIC PLANNING PHASE
Stage 1: Define Objectives
- Establish short- and long- term business goals
- Determine preliminary locational requirements
- Identify financial considerations
- Customize reporting process
Stage 2: Develop Strategic Planning
- Analyze existing conditions (space utilization and lease commitments)
- Clarify current and projected space requirements
- Market research
- Workforce and location analysis
- Determine alternative scenarios
- Establish preliminary budgets for potential renewal/relocation scenarios
- Develop an informed and cohesive strategy to meet tenant’s requirements
Stage 3: Pre-Design
- Select team including architects, engineers, telecom consultant, CM
- Preliminary programming
- Develop building test fit criteria
Stage 4: Site Selection
- Inspection tour of properties
- Preliminary financial analysis
- Select final candidates
- Operational/technical review of alternatives
- Assessment of building systems
- Analyze efficiencies and layouts
- Investigate building ownership
- Operational analysis
- Select most qualified properties
Stage 5: Initiate Space Negotiations
- Send RFP to candidate landlords
- Send RFP to existing landlord (if appropriate)
- Financial and operational analysis
- Determine government incentives
- Eliminate unqualified properties
- Refine negotiating strategy
- Design, space planning, budget schedules
- Financial analysis of proposals
Stage 6: Final Negotiations
- Draft final terms and conditions
- Develop construction documents
- Financial analysis of agreed terms
- Negotiate documents
- Execute lease or renewal documents
Stage 7: Design and Construction
- Final programming
- Schematic drawings
- Design development
- Contract documents
- Order long lead items
- Order technology equipment
- Order/build furniture
- Obtain landlord approvals
- Obtain building permits
- Construct premises
- Install systems and furniture
Stage 8: Provide Ongoing Service and Maintenance
- Prepare lease abstract
- Monitor lease provisions
- Review yearly escalation provisions
- Assess general conditions
Lease Renewal Negotiations
InterRelate Group represents your organization throughout the renewal/relocation process. We negotiate from a position of strength by completing a series of steps that creates competition among the potential landlords – including the current one:
- Understand your business plan and associated future growth or contraction needs.
We strive to clearly understand your business plan and we develop an overall strategy to make sure real estate decisions effectively reflect your goals and objectives.
- Program the space needs that accommodate your business plan.
We help select and then work closely with an architectural firm to develop on overall program of your initial and future office space requirements.
- Determine whether renewing and/or expanding in current space is an option in principle.
Based on numerous aesthetic, quantitative and qualitative criteria, we help you evaluate whether renewing in your existing building is a viable option.
- Evaluate marketplace alternatives.
We thoroughly research the defined office market and present every available alternative. We provide you with all pertinent financial, technical and qualitative information as well as reports on landlord performance from existing tenants.
- Evaluate current landlord’s upfront and long-term costs to replace you with another tenant.
We calculate what your current landlord will face in the event that you move out. This will include potential downtime and all transaction costs including: construction and tenant fit-out, rent concessions and commissions.
- Evaluate your potential upfront savings to be realized by renewing.
We calculate the savings you would realize by renewing versus a relocation to a competing property. This would include potentially not having to pay for upfront construction costs, new telecom and furniture systems. We take into account any available cash contribution from your current landlord toward installation upgrades.
- Perform sensitivity analysis to determine client’s “walk-away” criteria.
We calculate the break-even point where a relocation is more advantageous than renewing.
- Perform sensitivity analysis to anticipate current Landlord’s “walk-away” criteria.
In order to understand the landlord’s position and to anticipate renewal offers from the landlord, we calculate the break-even point below which it is unlikely the landlord will agree on transaction terms. This is largely based on the landlord’s costs to replace you.
- Perform sensitivity analysis to anticipate market alternatives’ willingness to reach for client.
We analyze market comparable transactions to determine the best possible terms in the open marketplace.
- Based on the sensitivity analyses, we submit proposals to market alternatives and to your current landlord.
We carefully structure proposals that reflect the break-even calculations and market comparable transactions.
- Complete a renewal or relocation transaction from a position of strength created by capitalizing on the competition among various relocation and renewal alternatives.
We will establish a competitive process based on accurate and relevant cost information evaluated against timely market intelligence.
Market Research and Consulting
InterRelate Group utilizes numerous information sources to provide our clients with customized reports on a vast array of market research subjects. We produce accurate and fully updated surveys of available properties to support our tenant representation services.
InterRelate helps organizations manage their leased, owned and subleased properties in one integrated system. We focus from the client’s point of view and can accommodate large global portfolios as well as smaller regional portfolios. Our lease administration services allows our clients to manage easily real estate projects such as site selections, renewals, renovations, dispositions and more.
Investment Sales and Acquisitions
For investors looking to sell or buy investment grade properties or portfolios, we offer comprehensive and research-driven global transaction solutions. We deliver outstanding results by seamlessly combining capital markets expertise with a unique ability to develop customized solutions for individual clients.
InterRelate’s Leasing Agency practice offers property-specific programs to increase the pace of leasing, improve tenant retention, maximize rental rates, and stabilize operating income. Our senior professionals have extensive experience working on behalf of a wide variety of major institutional and individual ownerships.