Office Space Construction

You found this  website looking for Dallas office space and we know the last thing  on your mind is office space construction. However, it is a good assumption that you desire to move into a high quality office and construction is a major negotiation when you are looking for office space. We bring over thirty year of experience to you to add value to your lease negotiations and to help you ensure that the construction for your new office is beyond your expectations.

We are not a general contractor, however, we have been directly involved in the negotiation of tenant improvement allowances which gave our clients the maximum amount of construction, paid for by the landlord. We can do the same for your company.

How We Help Our Clients With Office Space Construction

1. Preparation is the most important step!

    • The goal of a successful lease negotiation is to have the landlord pay for the entire construction expense for our client. This is accomplished before the lease is signed and gross rental numbers are finalized. We do this by asking the landlord to produce a preliminary space plan. The plan outlines the client’s requirements with as much detail as possible.
    • We then ask the Landlord to bid the plan out to three of their preferred contractors. The goal is to give the landlord comfort that they can get the space build to the tenants requirements within the allocated tenant improvement allowance.
    • It is important the the preferred finish selections are discussed at this time to ensure the landlord knows the cost of the tenant’s requirement.
    • Once the numbers are given to the Landlord we ask the landlord to provide a turn key tenant improvement allowance. This removes the risk of any construction overages to our client.

2. When the lease is signed the construction begins

    • We work with the tenant, landlord and architect to complete the construction drawings for the space. This document is most important because it will be the plan that the contractor uses to build the space.
    • Once the plan is completed our client must approve the final drawings. We review each page with them and have them approve it with their signature.
    • We set the first construction management meeting to get everybody on the same page. In this meeting a timeline is produced by the contractor. We will establish different meeting dates so that we can review the contractors progress. The timeline will also establish when the work will be completed so that we can plan for our occupancy date.
    • We coordinate with our client’s key decision makers to be sure they know about the construction timeline and so they can prepare for their department’s first day of occupancy in the new location.
    • Sometimes there are variations that occur in a construction project. When these instances occur we work with our client and the landlord to remedy the situation.
    • We also work with the tenant’s furniture contractor to help them coordinate what they need so that the furniture is in the premises and ready for move in day.
    • Data communication is also a major issue for tenants. The timing of the installation must be coordinated with the general contractor to have the cabling completed at the time that is provides the most value to the tenant.

Obviously this all starts with lease negotiation so visit our lease negotiation page to learn more.






Dallas Lease Negotiation

Congratulations, you have found the perfect office space! So what is the next step? What action are you going to take now that will put you into the best negotiating position for your business? Do you think that thirty years of lease negotiation expertise would give you an advantage?

We have helped hundreds of Dallas office tenants negotiate the perfect leases for their business. We can help you by simplifying the entire process from office space location all the way to construction.

How Can We Assist You With Your Lease Negotiation?

1. Why is the lease important?

    • It is important to remember that the lease is the sole document that you will use to refer to what the landlord’s requirements are as well as the tenant’s. This is the document that will be used in trial if there are any disputes. So it is very important that everything in the negotiation is included in the lease. We are not attorneys and cannot give legal advise We will work closely with your attorney to share our ideas with the hope that they will incorporate them into the lease.
    • One of the mistakes that a novice to real estate makes is they think that the only important thing is to find an office space to lease. Nothing can be further from the truth. The real work begins after the space is found and it starts with taking the information from the Letter of Intent and making sure that it is accurately reflected in the lease document.





Dallas Office Location

Chances are that you have come to our website because you are looking for Dallas office space or Dallas office market data. If you are an office tenant can I ask you a question? Why are you doing this work on your own? Do you know that our Dallas office location service is 100% free of charge to you?

How We Help You Find The Perfect Dallas Office Location

1. Discovering Your Business Requirements

    • Identify your key decision makers and meet with each of them to develop an understanding of what they are looking for in an office environment that will make the departments more productive
    • Understand the companies short and long term goals and determine how the selection of office space will facilitate these goals.
    • Analyze your present office location and compare it with the expressed goals and objectives of the key decision makers to determine if there are better options for the company or if the best option is to renew the exhausting lease
    • Discuss the goals of the companies leadership. Do they want to renew, renew and expand, renew and downsize, sublease the existing space and relocate or to relocate after lease expiration.

2. Reviewing Your  Office Options

    • We will contact numerous landlords and agents in the sub-markets your define and for the buildings that fit the requirements we discussed in our initial meeting. This relieves you from having to answer calls from every agent we contact because they will be communicating directly with us.
    • We present you with a professional report of the various properties we discovered that fit your requirements so that you can select the ones you would like to investigate further from the comfort of your own office. You will no longer be wasting your valuable time driving around town writing down numbers, making calls, explaining what you want and being hassled with sales pitches.
    • You select the top properties for consideration and we will set up a property tour to look at those choices at a time that is convenient with your schedule.
    • We take you and your top decision makers to visit the selected properties.
    • After the tour we have a meeting to discuss which properties you are interested in advancing to the next level of the process where we submit a request for proposal.

3. Financial Considerations

    • We send out industry standard  Request For Proposals (RFP) to your preferred  properties.  This allows us to place give the landlords a detail understanding of what you are expecting so they can give you a quality proposal. It also creates an equal advantage for all parties involved.
    • Once the Requests have been received we prepare a detailed financial analysis of the landlords response for your review. Many people are concerned with the price per foot. That number is truly only important to the Landlord. What matters to tenants is what is the overall expense to be in one particular location over another. We provide a detailed analysis that lets you take into consideration rental rate, free rent, tenant improvement allowances, moving costs, utility expenses, operating expenses and and other variables that are exclusive to your operation.
    • We are also working with the Landlord’s architect to have a preliminary space plan drawn so that you can determine if the space will fit businesses requirements for communication, productivity, technology and to address any functional obsolescence the building may have. The goal with this process is to ensure that the Landlord will include all these costs into the proposal that they have sent to us.
    • Our analysis allows you to make a professional business decision in the selection of your next office. Based upon the results of this analysis we will usually select the top two candidates and counter them. The goal is to narrow the selection down to the top contender for your firm.

4. Final Space Selection

    • Prepare a Letter of Intent (LOI) expressing all of the pertainent information including, date of possession, lease commencement date, acceptable gross rent and many other important items that must be described correctly to be recorded into the lease.
    • The landlord will deliver a lease document with the terms and conditions outlined in the LOI. We will work with your attorney to review the lease and do our best to help the attorney get the current market conditions addressed in the lease document.
    • Once the final lease is executed we will move on to the next phase which is to help you with the construction of your new Dallas office space.

Please visit our page on construction management to learn how our help in this area can create significant value for you and your firm.






Dallas Office Rates Are Increasing

Last year I represented a client to locate a space in the Dallas Uptown office market. At that time it was obvious that the spaces were in demand and landlords were looking at ways to increase their rental rates. My advice for my client was that they should lock in the current rate with a long term lease because they were the type of use that wouldn’t require relocation in the future.

Dallas Office RatesUnfortunately they didn’t take my advice and they choose a three year lease term. It has been a year since we signed the lease and there has been a thirty percent increase in the rental rate for the building that we choose. One year has passed and soon we will be at the twenty forth month of our lease. It will be time to discuss lease renewal in twelve months!

Dallas Office Rates Are Rising

My point is that time moves very quickly and with the rapid increases in rental rates I am advising my clients that they should be considering a minimum of five year terms if they plan on staying in the same location. Negotiate a good sublease clause into the lease so that if you have to expand or relocate you will have lower rental rates than the building and you should be able to sublease the space but have the assurance that you have loved in a lower rental rate for your business too.

Back to my client.. Needless to say they are kicking themselves because they are looking at a substantial increase in their rental rate expenses within twenty four months. Don’t let this happen to you. Hire a professional tenant representation firm like Finch Commercial Realty, Inc. and get the assistance you need to avoid these pitfalls.






Dallas Office Sublease

Dallas office sublease

Our favorite types of leases to work with are Dallas office subleases. There are so many positive reasons that a sublease should be considered by an office tenant but as with all decisions there are potential negative results if everything isn’t considered by the sub-lessee. When a tenant is considering an option to lease space from a particular building it is important that the tenant determine of there are any sublease spaces available in the building prior to contacting the building’s leasing agent. If a tenant has already contacted the building and at a later time discovers a sublease space that is ideal and thirty five percent cheaper than a direct deal they may have eliminated themselves from being approved my the landlord for the Dallas office sublease. Why would this happen? Because, in most leases the landlord restricts the sub-lessor from leasing to anybody that the landlord or their agents are talking to about space in the building or to any other existing tenants within the building. TestNorthDallasA tenant can avoid this pitfall by working closely with a professional that has years of experience in negotiating Dallas office sublease space. It is important that before a building is contacted that all known sublease options are reviewed and a determination is made to their viability as a future location for the tenant.

Reasons For A Dallas Office Sublease

Why do you want a Dallas office sublease? Here are many of the reasons given by our clients, shorter term lease, significant rental rate reductions, furniture could be included in the deal, telecommunications and network systems could be included in the Dallas office sublease and the space is usually ready for immediate occupancy. All of these are great reasons however the Dallas office sublease client need to never forget two important issues that could have serious negative consequences for their business. First is that a sublease is only as good as the credit of the sub-lesser. If the tenant that the sub-tenant is leasing from goes into default then the sub-tenant has no lease or space and most likely will be given a short notice to move out of the building. Secondly once the negotiation of the sublease is complete the building’s landlord must approve the sublease

Landlord’s Consent Dallas Office Sublease

Most landlords will not even review a sublease until the negotiation between the sub-lessor and the sub-lessee is complete and the sublease is executed. The landlord will then issue a landlord’s consent to sublease and this could be presented within a few days or it could take a few weeks. Once the landlord’s consent is issued the sub-lesser and sub-lessee sign it and the Dallas office sublease is approved after the landlord executes their consent document. All things being considered we love subleases for our clients. Yes there are a few hurtles that need to be jumped over but the money that can be saved is well worth the risk for the right client. In our opinion the only firm that shouldn’t consider a Dallas office sublease is one that has a very short term timeline and needs a Dallas office lease in less than thirty days. If you found this article on Dallas office sublease space of interest you should also read our other informative articles on Dallas office space and Dallas office brokers.






Dallas Office Brokers

Dallas office brokers

When looking for Dallas Office brokers to represent your interests you need to be aware of the different types of services that brokers can offer to their clients. Brokerage services fall into three main categories, buyers’ agent, seller’s agent or intermediary. It is important that the consumer of brokerages services understands the difference.

Upon first contact with a licensed Texas broker or agent they should provide you with an Agency disclosure form, which is required to be delivered upon first contact with a consumer of the Dallas office brokers prospect. The Texas Real Estate Commission require this form to be presented so that it helps to inform the individual talking with the broker that they need to know what side the broker represents.

Dallas Office Brokers Representation

TestChaseMany times I speak with a tenant that has been speaking with various Dallas office brokers and they refer to the broker as their broker when in fact the broker is representing the interests of the landlord. “Their Dallas office brokers” responsibility is to the building not to the tenant. They must treat the tenant with respect and be truthful but their ultimate responsibility is to the landlord.

So how does a tenant know if the Dallas office brokers they are working with are looking out for their best outcome? This may sound crazy but the broker they are working with will usually have a signed Tenant Representation Agreement with the tenant indicating that they are obligated to the tenant and what their responsibilities are to the tenant. Without a written contract with broker the tenant really doesn’t have a broker representing them and their broker would be like all the other Dallas office brokers looking out for the interests of the landlord.

Unfortunately some tenants don’t want to sign a contract with a tenant representation broker. We think this is because they don’t understand that if they did they would automatically bring onto their team a dedicated professional that understands that Dallas office market and has complete fiduciary responsibility to them.

Dallas Office Brokers Contract

Sometimes the tenant doesn’t want to sign a contract because of bad experiences they may have had in the past. We believe that it is imperative that when a tenant is looking for Dallas office brokers to represent them that they look for professionals that only specialize in Dallas office tenant representation. By doing so they remove all potential conflicts of interest and they know that their broker is totally focused on only representing tenant’s interests and not any landlord’s. Additionally this type of broker has been immersed in thousands of hours of experience dealing with tenant’s issues and completely understands the concerns and issues a tenant may face in a lease negotiation.

When looking for a broker look for one that has had many years of personal experience assisting Dallas office tenants find good leases for their firms. Some Dallas office brokers are with old firms but they have six months of experience. We think it is better to have a broker with twenty years experience that can draw upon their own experiences to help a tenant navigate the lease negotiation and space selection process.

If you found this article on Dallas office brokers of interests you should also read our other informative articles on Dallas office space and Dallas office sublease.

 

 

 






Dallas Office Space

Dallas Office Space

Dallas Office Space

There are so many choices for the office tenant in Dallas today. With five submarkets to select from for Dallas office space the tenant has a significant number of buildings to choose from in their search. The selection for the actual location is usually not the first step in the process.

When making a list of requirements for Dallas office space the first choice is usually which submarket do you want to office within? Dallas has nine primary submarkets they are, Dallas CBD, Far North Dallas, LBJ Freeway, Oak Lawn/Uptown, Preston Center, Richardson Plano, Las Colinas, East Dallas and North Dallas Parkway. The first decision should be which market offers your firm the amenities that you need for your business.

Dallas Office Space Markets

Once you have decided upon the market then a determination needs to be made regarding the type of office building you would like to occupy. Most Dallas office space is classified into three categories, Class A, Class B and Class C. Class A properties are normally the most expensive, Class B are moderately prices and Class C are the cheapest.

The classification of the Dallas office space you select and the market you choose will have the largest impact on the overall price per square foot of your lease. Once you have a building selected then you need to begin the process of negotiating the terms and conditions of your lease. In most cases this is where the real work begins. It isn’t difficult to find a building with a vacant space and a landlord that wants a new tenant. It takes skill and market knowledge to negotiate a good lease for everybody.

Dallas Office Space Lease Negotiation

Some people think that all that is required to find a good Dallas office space is the ability to locate a building. However wouldn’t it be better to have the knowledge of an expert to assist you in your decision? Having somebody on your team that doesn’t look for Dallas office space once every three or five years but every business day of the year could save you thousands of dollars and help you avoid major mistakes.

That is what we do at Finch Commercial Realty, Inc. for our client’s every day. We are knowledgeable about Dallas office space and we can help you solve your office space search. We start the process when you describe what you need, locate several viable solutions and stay with you until you get the keys to your new office and are completely satisfied.

To us the satisfaction we get from our work is to see our clients moved into their new Dallas office space and they are completely satisfied. Our job isn’t finished until our client is happy. So if you are looking for this type of service you should contact us and give us the opportunity to show you how we can be of service to your growing business.

The Dallas office market is very large and there are many different options for you to choose. We hope you choose to give us a chance to share our twenty five years of experience to help you make a good decision for your business.

If you found this article on Dallas office space of interest you should also read our other informative articles on Dallas office subleases and Dallas office brokers.