Tenant and Owner Occupant Representation

REA Right Fit Solution

REA’s goal in our representation of Tenant and Owner Occupants is to make the clients real estate facilities operate at a higher and more efficient level. The objectives of this Nine Step User Advisory Process are to:

• Save our client’s Money
• Save our client’s Time
• Reduce our client’s Risk

Step 1 - The Ground Floor Evaluation - Analysis of Client’s Objectives - and facility needs to determine client's short and long term real estate requirements.

• Define client's real estate requirements and selection criteria.
• Define a preliminary occupancy plan.
• Review current and relevant real estate market conditions.
• Develop plan, if appropriate, for disposing of existing space.
• Create the basis for search parameters.
• Establish action plan for Step 2 and a preliminary project timetable.

Step 2 - The Market Survey - Identify all logical alternatives in the market which could satisfy client's requirements and reduce them to a short list for a more comprehensive evaluation.

• Prepare a comprehensive list of alternatives in the market.
• Apply selection criteria and reduce to a short list of selected alternatives.
• Specify alternatives for site tour and prepare tour schedule.
• Review conclusions and recommendations and further reduce list of alternatives, if appropriate.
• Factor in REA database research to insure that all space options have been considered.
• Review and refine action plan for Step 3.

Step 3 – The Site Selection - Start with the overall market and refine the list down to specific property that could meet the client's key objectives.

• Take the work of the first two phases to create a tour list.
• Physically tour and rate the list of properties.
• Prepare preliminary space plan for each alternative and compare.
• Evaluate and compare the alternatives.
• Further reduce the alternatives to a "short list" of targeted properties.
• Obtain internal approvals to proceed with properties to receive the formal Request for Proposal.

Step 4 – The Strategic Blueprint - Select the alternatives which best satisfy the client's needs -- request terms and conditions to provide a basis for future evaluation.

• Define negotiating objectives, roles, responsibilities, and authority.
• Submit request for proposal to selected properties.
• Work with property to gain a quick and complete response.
• Define negotiating strategy

Step 5 – The Best Fit Function - Commence “test-fit” planning within selected properties to define best fit and function.

• Simultaneously with RFP process, request test fit plans from "short list" properties.
• Design space to fit requirement taking traffic flow and need for employees interaction into account.
• Convert all plans to a like format.
• If possible, have one architect complete all plans for consistency.
• Evaluate that plans fit the entire requirement and quantify square footage requirement.

Step 6 - The Alternative Analysis - Financial review of the RFP responses.

• Analyze and compare financial components of each RFP response.
• Quantify any unanswered points or "gray" area responses.
• Run financial evaluation and rank responses.
• Run second evaluation on business terms matrix form.
• Compare evaluation forms to select building finalists.
• Obtain client approval to proceed with negotiations in Phase VII.

Step 7 – The Contract Negotiations - Negotiate optimal business terms that meet the long-range and strategic goals of client.

• Define negotiating point priorities.
• Submit counter proposals to finalists.
• Conduct in-person negotiations with final selected property.
• Negotiate key lease clauses and language.
• Execute purchase agreements or lease documents.

Step 8 - The Construction - Value engineering with focus on time lines to produce the best finished space within the budget parameters.

• Finalize space plans into construction documents.
• Review location of power, telco and lighting to match each employees location within the space.
• Review and complete finish schedule (color selections).
• Coordinate moving schedule to construction schedule.
• Schedule/attend construction progress meetings as required.

Step 9 - The Move - Coordinate moving process to allow for the least amount of business interruption.

• Provide list of REA preferred vendors with discounts to tenant's move coordinator.
• Review required vendors and schedule.
• Certification of building and premises measurement from building architect.
• Insure certificate of occupancy or lease commencement letter signed by tenant and landlord.
• Abstract final contract for ease of review by client.
• Evaluate property compliance with contract or lease provisions.