Underdogs – that’s what I have been thinking about this week. We had two classic games over the past couple of weeks where the underdogs rose up and beat the favored team. We had UM kick Duke’s butt and then the Ravens held on and won the Super Bowl. What do underdogs have to do with commercial real estate? You would be surprised.
I have seen quite a few negotiations in my time. The other day I calculated that I have negotiated over 600 leases in my career. Just when I think I’ve seen it all, I learn something new. One thing I know for sure – never count out the underdog. What’s an underdog? It could be the existing landlord who has just made a tenant’s life miserable and the tenant swears they will not remain in that office building another moment. In another case, it could be an aggressive offer from the building down the block or up the road that catches the attention of key decision makers and causes them to re-think a simple renewal.
When an underdog makes an aggressive play for your office lease, you need a savvy advisor. How will you know for sure that these terms are below market as claimed? How will you be able to potentially get more or get the terms more suitable for your specific situation? What are the right questions to ask to get to the bottom line? My expertise is playing the middle man. I run interference and translate the conversations for the other party. I provide creative solutions and alternatives that can help the underdog rise to the front runner position – if that is what my client wants.
With today’s office market fragmented and sending mixed messages of recovery, you need someone who knows all the players and can navigate you through the confusion. Call me today for a free lease analysis.
