Step 1 Analyze existing situation
- Conduct a comprehensive lease audit and review related contracts.
- It’s essential to know the liabilities up front and deal with them appropriately.
- Document and provide abstract.
- Review operating cost history (past 3-5 years).
- Question and seek explanations for significant changes.
- Seek understanding from existing Landlord of future projects that may have an impact on costs or tenants’ operations.
- Understand corporate culture, reputation and brand and whether the workplace reflects these values.
- Understand “work flow,” number of employees and future growth plans.
- Define programming requirements.
- Define geographic boundariesDefine clear CSR and Sustainability objectives.
- Map location of all employees/major clients by postal code
- Define financial goals and budgets.
- Define and verify assignment objectives.
Step 2 Market Analysis
- Current vacancy and situational analysis of current landlord and building.
- Assess the entire state of the market.
- Are we in a balanced market, a tenants’ or a landlords’ market?
- What other tenant activity is there in the market that could have an impact on the client’s program?
- Provide a detailed market survey that includes all available options (current and future) that meet the client’s defined needs and objectives.
- Decision whether the best option is to stay or pursue other market options that are better suited for the client’s needs and objectives
Step 3 Develop a strategy and action plan
- Assemble appropriate team of professionals
- Space planner, project manager, facilitators, move coordinator etc.
- Formulate employee engagement strategy
- Focus groups, town halls etc.
- Meet with existing landlord to present client’s situation and solicit feedback
- Establish leverage points to assure best negotiation position
- Prepare and submit request for information (RFI) from all landlords that have available space that closely meets client’s accommodation needs.
- Create a short list of potentials
- Tour properties
Step 4 Alternative Site Qualification and Selection
- Prepare/Issue detailed Request for Proposals
- This may include the provisions of an Environment Management Plan which shall form part of a Lease and comprise a covenant on the part of the Landlord to provide sustainable operations of the building.
- Review alternative sites and prepare “Fit Plans” (at proponent Landlord’s cost)
- Prepare preliminary cost estimates of construction and fit-up
- Understand cost and logistics of move
- Prepare and present detailed analysis of proposals
- Prepare and present detailed financial analysis
- Select best alternative
- Negotiate a Letter of Intent conditional upon the Tenant’s due-diligence
Step 5 Due-diligence
- Building review. In most cases we have been successful in negotiating that the Landlord covers the cost of the professional fees.
- Engineering reports on mechanical, electrical and structural components of the Building
- Review existing environmental reports i.e.
- Phase One
- Phase Two
- Asbestos Management Plans
- Designated Substance Reports
- Indoor air quality tests: Thermal Comfort & Contaminants Testing
- Reference check Landlord/building with existing tenants
Step 6 Finalize agreements and move in
- Lease negotiation, lease execution and legal review
- Space planning and construction
- Project management
- Move coordination and arrangements
- Provide detailed abstract of lease and related documents
Step 7 Ongoing support and lease tracking.