Two years ago, Virginia (not her real name) contacted me to help her find a new location for her business currently located in the Garment District. She had an issue which we can all understand.
It takes time to move space and as a tenant, time can be your biggest asset or your biggest liability... so make sure you have enough of it!
We are pleased to present the first installment of G.E. Grace's commercial real estate video series!
For tenants, renewing your current space or relocating within your building is often a better solution than moving. By remaining, you don't change commuting patterns, eating haunts or local neighborhood services, etc. Unfortunately, landlords have a name for tenants who negotiate their own renewal: "captured" tenants. This implies that they are virtually guaranteed to pay more for their space than a new tenant moving in.
Landlords know exactly what it would cost for a tenant to move and the natural resistance for tenants to make such a move. With these assumptions firmly implanted in their heads, landlords will extract the highest rent possible from you. Our job, at G.E. Grace, is to dislodge those notions.
Are you looking to work in the 'Heart of New York City'?
When corporations are looking for office space, they typically start by casting a large net. This involves taking the interests of all key players into consideration before narrowing down the choices.
When a new client meets with a tenant representative broker, one of the most important pieces of the consultation is utilizing the client’s goals and aspirations as a “road map” to the right building. That map may cover different terrain in each tenant’s case, but there are 5 basic factors to consider that are universal in any move:
Helping clients make difficult real estate decisions is an important aspect of a broker’s job. Whether they are starting a new business or relocating an existing one, there are many factors to consider.