As part of our new knowledge based series, Tenant Rep Tuesday Tip, we dive into Newcor's 6-Step Leasing Timeline.
As Newcor is representing you as the Tenant and Newcor as the Tenant Rep Broker - we guide you along each step of the process. Do note, during the overall Leasing Timeline there is overlap from one step to the next - not to worry though, Newcor ensures no detail or deadline is missed along the way.
STEP 01: DISCOVERY | We work directly with you as the Tenant to create the initial Timeline and determine specific lease space needs through the Needs Assessment
STEP 02: SEARCH | As your Tenant Rep Broker, we perform a Market Survey to see what options are available based on the Needs Assessment. From the initial Market Survey, Newcor and the Tenant engage in Property Tours and further narrow down the options through the Short List Selection. Once the final few options have been selected by the Tenant, Newcor sends out Requests for Proposals (RFPs) and in turn, the Landlord responds with Proposals.
STEP 03: ANALYSIS | We work directly with you to create and review the lease space Financial Analysis for the final selected property of your future new lease space. From there it's time to start Space Planning to gain the most efficient use of the Tenant's lease space and begin Preliminary Construction Pricing for the lease space Tenant improvement build-out, as necessary.
STEP 04: NEGOTIATION | Newcor works with the Tenant, on the Tenant's behalf, to Negotiate the best terms for the Lease, until the Landlord and Tenant are mutually agreeable. Once a Lease is drafted and agreeable it is best to have Legal Review of all the key terms and components of the Lease. If everything checks off, it's time to sign and Execute the Lease.
STEP 05: CONSTRUCTION | If applicable, Construction of the Lease Space based on the agreed Tenant Improvement Allowance build-out of the space commences.
STEP 06: DELIVERY | Pack the office - it's time to Move-In and enjoy your new view.
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