Generally, every three or five years, all tenants are faced with the same conundrum when their lease is set to expire. Should I stay or should I go? This time period can be stressful because you know making the wrong decision can have a lasting business impact for years to come. That is why you need an expert tenant representative to help guide you through the process and ensure you are making the right decision.
The team of caring professionals at Lake State Realty understands that at the end of the day, our business is a people business. A comprehensive and personalized approach to customer service has earned us a reputation as a family-owned firm with a comfortable approach to business alongside a capacity for taking on large-scale projects. We take the time to understand your business and situation to help you make an informed decision. We will analyze your business goals, occupancy needs, logistics requirements, and the potential effect on your balance sheet to identify and evaluate potential lease or purchase options.
Knowing our clients’ goals, our experienced commercial real estate professionals leverage extensive local market knowledge to identify the ideal space to carry out your goals. The geographical experts at Lake State Realty are extremely familiar with the properties and areas in and surrounding the Twin Cities. Our experience and regional knowledge will help you find the perfect fit for your company. We have helped many business owners and government units find office, retail, restaurant, medical, and industrial space in Minnesota.
Equally important as site selection and location are the business terms and conditions of a lease or acquisition. Lake State Realty has experience representing both owners and tenants, so we understand what motivates each side in a lease negotiation. As a powerful advocate, we are able to create and leverage opportunities in the marketplace and can help you secure the ideal space with the most favorable terms. The locations and lease terms that we are able to secure for our clients continually exceed expectations. Best location. Best terms. No compromises.
The best tenant representatives are not only local market experts and effective negotiators, but they must also be adept at managing the entire leasing process from start to finish.
Tenant Representation Process
- Strategic planning
- Review all current space and lease obligations
- Analyze business goals, space requirements, and company culture
- Set project timelines
- Evaluate the Market
- Present all the available options available for sale or lease in the area of interest whether it be Minneapolis, Saint Paul, Twin Cities suburbs, or greater Minnesota
- Schedule and conduct property tours
- Provide real estate market value and analysis as well as current trends
- Prepare and issue requests for proposals (RFPs)
- Workforce drive-time analysis
- Analyze Alternatives
- Conduct test fits
- Assist with space planning and construction bids
- Preliminary negotiations with landlords and developers
- Qualitative and quantitative analysis of RFP responses
- Negotiate Terms
- Conduct all due diligence necessary
- Negotiate favorable lease or sale terms
- Prepare and submit counterproposals
- Finalize floor plans
- Compare best & final offers
- Implement Decisions
- Draft and execute letters of intent (LOIs)
- Ensure the client understands all related costs & risks before contract execution
- Assist in the review and execution of lease or purchase agreements
- Establish vendor and move-in timelines
- Post Execution
- Move-in logistics and punch list coordination
- Lease renewal
- Tenant buyout
Minnesota Tenant Representation
Our work is not complete when you’re handed a key, we are dedicated to creating mutually beneficial relationships that continue well beyond the real estate transaction. We aim to be your real estate advisors for life. Give us a call today for tenant representation in Minnesota!