One of the biggest headaches for a property owner or landlord is the looming prospect of a vacancy. With Lake State Realty on your team, not only will your space lease, it will lease for top dollar. We understand the complex requirements of corporate, institutional, and entrepreneurial property owners in Minnesota.
On Your Team
We are a small family-owned and operated brokerage firm. Unlike those large brokerage firms that can hide behind their name and national brand recognition, we obtain our business by providing such a high level of service that our clients recommend us to their friends and family and often leave 5-star reviews on Google.
Economic, Financial, and Market Analysis
As any smart investor knows, knowledge is power. Successful leasing begins with knowing the local commercial real estate market like your own backyard, which for our leasing agents, it literally is. First, we understand everything there is to know about the subject property, surrounding market area, comparable buildings, and the tenant mixes in those properties.
Placing tenants, especially in a larger complex is a lot like a puzzle. It is important to consider any exclusive, prohibited, and restricted uses as well as the existing tenant mix. Additionally, it is important to collect data on the target market for the property so we can ensure the marketing strategy that we employ aligns with the wants and needs of your ideal tenant. We can perform void analyses to identify optimal tenants and develop the ideal tenant mix for your property and location.
Finally, it is important to perform a comprehensive economic and financial analysis of the property and competing properties. This allows us to suggest property renovations and improvement recommendations that could attract a higher caliber of tenants and stay competitive.
Value Maximization
We think like owners. Our job is to maximize the value and return on your investment and to help you keep your building running at its full potential.
Our knowledge and experience navigating the different zoning, use, and construction rules and regulations in the Twin Cities offer guidance to landlords in efficiently leasing their property from start to finish. Landlords rely on our expertise and understanding of each neighborhood to reinforce or reposition their properties to attract desirable tenants for each space.
Marketing
Every property has a story – our goal is to highlight the unique combination of history and strengths to best position it amongst the competition. Our success lies not only in leasing properties but also in transforming a building’s brand and image.
Our best-in-class marketing provides building owners with maximum exposure in the marketplace. We take pride in our listings and aim to showcase them in the best possible light.
All of our listings have a first-class online presence, regardless of the size and nature of the space.
As soon as we begin our marketing campaign, we hit the streets and the phones to create massive exposure for your property. We aggressively pursue potential tenants including frequent warm calling, custom marketing flyers, social media outreach, and direct email marketing.
Our marketing plans can include:
- 3D Interactive Tours
- Floor Plans
- Professional Photography
- Aerial Photos and Video
- Single Property Listing Page on the Lake State Realty Website
- Unique Commercial Real Estate Signage
- Networking and Cold Calling
- Cooperation with the Brokerage Community
- Color Marketing Brochure
- Staging
Tenant Pre-Qualification and Selection
Finding the right tenant provides a landlord with profitable rental income and long-term stability. We establish tenant qualification criteria with each property owner in advance in order to screen potential tenants. We can also review business plans and financials to ensure that you are comfortable with the selection of tenants. Our goal is to ensure quality tenancy that will fulfill the lease term and maintain the highest and best use of the asset.
Lease Negotiations
Tenants can be tough negotiators, so you need someone on your side who understands both sides of the transaction. Our approach is centered around our understanding of each side of the negotiation. Having negotiated countless contracts on both the tenant and landlord side we have compiled the best practices from each transaction to better serve our clients. Our bulldog negotiators excel at negotiating the best possible deal that delivers the most profitable return. We have decades of experience in lease negotiation and all our leases and letters of intent (LOIs) are handled with the utmost care and diligence to obtain the most favorable terms.
Tenant Retention
Once the transaction is complete we do not quit going to work for you. Maintaining credit-worthy tenants directly correlates to the value of your property. We stay informed on the latest market trends and work directly with your tenants to ensure complete satisfaction, which in turn gives us ample opportunity to secure optimal rents.
Minnesota Landlord Representation and Commercial Leasing
We work with landlords of retail, office, medical, and industrial space in the Twin Cities region, whether you have a portfolio or a single property, we will secure the highest quality and paying tenants to lease your available space.