Every once in a while we see a news article like this one proclaiming that "tenant representation" (like that, in quote marks) is a big new trend in commercial real estate.
We've been doing Denver tenant representation for a long time now, so we're not sure if it's good or bad that a reporter looks at what we are doing right now as a "trend."
That particular story does detail some of the many things that can enter into a commercial lease negotiation. This story gave this summary:
Common commercial lease concessions that can be negotiated are the rent and length of contract, tenant buildouts and improvements, “free rent” periods and future incremental increases in the rate. The CAM fee (common-area maintenance fee) required in larger facilities, such as business parks and shopping centers, generally is not negotiable; but some tenants have successfully negotiated an annual cap on the increases. Other items that can be negotiated are first right of refusal on adjoining space, future renewal options, the right to sublease, and even reserved parking spaces.
That's quite a long list. If you are busy in your day-to-day work for your business, you probably don't have time to become an expert in all of these areas, let alone how to negotiate on each and every one of them. Also, it's important to keep an eye out for things not to push too hard on so as to ensure that you'll be able to stay in the spot you want to stay in for as long as you want to stay there.
If you'd like to talk to someone about ways that a tenant representative might be able to help you, please contact us with any questions you might have.