Tenants hold the advantage as vacancies continue to rise.

graph courtesy of CoStar

Why Should Companies hire a Tenant Representative?

Are you with a company whose lease is ready to expire in an existing space or a company that needs to expand or contract? Have you considered that with more efficient buildings you can significantly reduce your costs and "step up" to a better environment? Do you operate your current business with a lot of empty space that you are paying for? Do you have a professional that you can trust to work with you through every step of new lease negotiation and transaction?

At ComReal, the Tenant Representative's first objective is to listen to your requirements for a fully functioning and efficient office. You will quickly become educated on the spectrum of choices that meet your requirement. Often times compromises need to be made and a ComReal professional can help prioritize your needs. Often times pricing is very deceiving and a ComReal professional will help make sense out of all the layers of fees and costs. They will learn about your business and plans for growth; they have existing relationships with landlords and landlord representatives so they know the "real price"; they know the good, bad, and ugly of the buildings in the geographic area where they are an expert. A ComReal Tenant Representative will save you a lot of time and money.

Leasing office space can be a complex process and it can take precious time away from your core business. Leave the hunting and negotiating to the experts.

LOUISE BENDIX,LEED-AP | Office Leasing Specialist
ComReal Miami, Inc.|Commercial Real Estate Services
366 Altara Ave., Suite 102 | Coral Gables, FL 33146
T 786-433-2376 | F 888-316-6818

Welcome to my website and blog

Here we have rising from the ground at the prime Coral Gables corner of LeJeune Rd. and Alhambra Circle, is the second LEED Certified NEW office tower in Coral Gables. Already we have Miami Green, the first LEED certified new building; 355 Alhambra, a LEED certified existing building; and Douglas Entrance, another LEED certified existing building. Unlike Miami Green, Alhambra 396 is not being built as an office condo but as a multi-tenant, Class "A" office tower. It will add another 273,000 sq feet of office to the Coral Gables market over the next 2 years.

So far I do not hear many tenants asking specifically for LEED certified space. I think if tenants understood the certification requirements and the added value of occupying such high quality and well designed space I think there would be more demand.

The big question for the developer is does LEED certification add enough value to justify a higher lease rate? LEED certification certainly does cost more up front with increased material costs, commissioning costs, engineering and often modeling costs with the hope that operating costs will be significantly reduced and will off-set the higher capital investment. The other hope for the developer is that LEED Certified space will be in higher demand then buildings that are older and less efficient.

The big winner in this game is going to be the tenant. The tenant will likely not be paying much more for space that is designed very specifically for the health of the occupants, reduced operating expenses, and a very well designed and high quality building. Benefits to employees are documented and increased productivity is certainly an expected result.

For tenants and building owners there is more data available on the benefits of building according to LEED standards and occupying these buildins. Here is a link on resources from the USGBC website. Here is a link on resources from the USGBC website. http://www.usgbc.org/DisplayPage.aspx?CMSPageID=2256

LOUISE BENDIX,LEED-AP | Office Leasing Specialist
ComReal Miami, Inc.|Commercial Real Estate Services
366 Altara Ave., Suite 102 | Coral Gables, FL 33146
T 786-433-2376 | F 888-316-6818
www.LouiseBendix.com

"ComReal is Commercial Real Estate"