Tenant representation is a core service provided by Industrial Department of Cushman & Wakefield.
The significant increase in supply of modern warehouse space causes a growth in number of available possibilities for Tenants. Choosing the best warehouse is quite a challenge, not to mention the negotiations concerning the best possible commercial conditions. The key to a successful choice of modern warehouse space is cooperation with the professionals. With their knowledge and experience, Tenants will avoid many traps and the process of leasing warehouse space will be more simple and transparent.
Within Tenant Representation Service, experts from Cushman & Wakefield will advise you in the following issues:
1. Preliminary supply analysis
Based on your objectives and business drivers, our team will provide you with the long list of possible locations, which basically fulfil your requirements concerning location, rental, time schedule etc. This comparison allows you to orientate immediately in number of possible options depending on rental rates. For those, who search for more than 10.000 m² of warehouse space, within 8-10 months period, we can offer build to suit projects. It is prepared on individual order, in the Tenant's selected area.
2. Request for proposal
Standardized request for proposal is an essential factor which determines the speed of offers analysis. Cushman & Wakefield' employees will prepare for you the individual RFP, describing in details your requirements (technical specification, location, time schedule etc). They will send this RFP to developers that could fulfil your criteria and will ask for individual offer.
3. Offers comparison chart
After collecting all lease offers from the landlords, C & W professionals will rank the offers by their attractiveness for the Tenant and his preliminary goals. To make the comparison as easy as possible, at this stage of the lease process, it is vital to bring the offers to a common platform. On your behalf we will analyze inter alia:
Technical specification of offered buildings,
Cash flows within rental terms,
Financial incentives offered by Landlords (cash contribution, rental-free periods, additional buildings' improvements and so on),
Availability of workforce highly qualified,
Location in the direct neighbourhood of your co-operators or competitors,
Other factors vital for Tenant
4. Lease negotiation
C&W team will represent you in the negotiations with landlords, concerning verification of information provided in lease offers, as well as gaining best possible commercial terms. Together with narrowing bidders' list, C & W will discuss more precise all issues, crucial for Tenant.
5. Final recommendation
At the end of negotiation process we prepare a written version of final recommendation. We chose, in our opinion, the best offer and present an explanation of our choice, as well as detailed description of negotiation process. Such document is usually presented to the Board of Directors, as the explanation of Tenant's choice.
6. Letter of intent
After completing the process of getting approval, the next stage is signing Letter of Intent with chosen developer. Letter includes all commercial agreements between Tenant and Developer. Letter of Intent is basis for an individual lease contract to be prepared by landlord.
7. Future Lease agreement
After the future lease is signed the landlord starts preparation of the industrial unit for occupancy. In this time C&W will assisst you with coordination of the technical teams, with finalization of the project and with progress tracking. C&W can also find temporary real estate solution for the period before unit completion.
8. Lease agreement
Not being a law company, Cushman & Wakefield does not offer the law consultancy for the Tenant. But we can still recommend the set of chambers or cooperating with Tenant's lawyers, make sure that negotiations concerning lease agreement proceed without complication and according to rules included in Letter of Intent.