Tenant Representation leverages decades of market based knowledge and experience as well as subscription-based and proprietary resources to curate the most applicable office space options available – and in the shadow market- for our clients’ consideration. Through a thorough needs analysis, we pinpoint optimal property for tenant-clients, and customize a tour that takes the client in the right direction in terms of their budget, geographic needs, style, and utility of space. It is of paramount importance that a landlord not think of a tenant as a ‘captive market’. Accordingly, we source the three best options in the market – that may include an extension of term at the tenant’s current building – and we create a credible, objective competitive bidding environment – to negotiate the most favorable terms and conditions achievable. From there, we negotiate the most tenant-friendly lease agreement possible with the front-runner building.
One aspect of tenant representation that may not be shared by all practitioners is our focus on the negative.
What that means is that we highlight negative attributes of potential spaces, so that our clients can make a value judgment on their importance.
We highlight when a building is adjacent to an active railroad, when we know of standing water in a parking lot on heavy rain days, slow elevators, inferior management, known prior damage from past hurricanes, limited HVAC hours (especially important for accountants during tax season and litigation attorneys that work extended hours), etc. These are the type of pitfall alerts that we provide to our clients. This distinguishes our firm – and clients really appreciate it.
We also provide recommended changes to our clients’ office leases. This is done from a business perspective – not a legal one. A commercial real estate attorney protects tenants from a legal perspective whereas we do our best to help balance business terms embedded in leases – such as the terms of renewal and expansion rights – and in some cases, contraction rights; to whom, how and when the tenant may assign or sublease their space; how much a tenant will pay if they stay beyond the lease expiration date without an agreement to do so with the landlord; and many other important points. This attention to the client’s results for the short and long term has translated to most clients remaining represented by Stagman Commercial throughout all of their office lease activity – over the decades.
Finally, we represent tenants exclusively – not landlords. Therefore, our fiduciary is to you – the tenant. Everything that we do in the leasing process is in your company’s best interest – not the landlord’s.
The best part – our service costs you the tenant nothing, and nothing extra – and you get all the benefits of representation.