Corfac News

15 072013

The office specialty group met again last week to discuss the state of their markets and share ideas on pitching to tenants in different markets.   The group discussed:

  • Pitching to a tenant that is leaning toward staying in place, or who has a long or good relationship with its building owner.  A great way to do this is to start talking to the tenant at least 1.5 years out.  Even if the tenant is happy with their location, make sure they know whether or not they are getting a good deal on rent. Take them to look at other properties, so they will see the value they are getting.
  • Negotiating on behalf of these tenants/creating leverage.  By taking tenants to see other buildings (even if they would like to stay where they are), you create leverage in re-negotiations.  The landlord will find out they are willing to leave, and that will help get a better lease for the future.

The group also discussed dealing with (incumbent and prospective) building owners to preserve and enhance your position in the marketplace and getting paid full commissions on renewal deals.  To hear the entire conversation, CORFAC members can log-in to the Extranet to listen to the webinar:

Locally Owned. Globally Connected

CORFAC International is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 49 offices in the U.S., 5 in Canada and 17 in international markets, including Australia, Colombia, France, Germany, Ireland, Israel, Italy, Japan, Mexico, Romania, Russia, South Korea, Switzerland and the United Kingdom. CORFAC offices completed more than 10,000 lease and sales transactions totaling 620 million square feet of space valued in excess of $8.2 billion in 2018.