The significant increase in the supply of modern warehouse and factory space causes a growth in the number of available possibilities for Tenants. Choosing the best warehouse/factory is quite a challenge, not to mention the negotiations concerning the best possible commercial conditions. Cooperation with the professionals is the key to a successful choice of modern warehouse/factory space. With our knowledge and experience, tenants will avoid many traps, and the process of leasing warehouse space will be simpler and more transparent.
Within Tenant Representation Service, experts from Cushman & Wakefield will advise you in the following steps:
1. Preliminary Supply Analysis
Based on your objectives and business drivers, our team will provide a long list of locations that fulfill your requirements concerning location, rental, schedule, etc. This comparison allows you to orientate immediately in possible options depending on rental rates. For those searching for more than 5.000 m2 of warehouse/factory space within 12 – 15 months, we can offer build-to-suit projects. It is prepared individually in the Tenant's selected area.
2. Request for Proposal
Standardized proposal requests are an essential factor determining the speed of offers analysis. Cushman & Wakefield's employees will prepare the individual RFP for you, describing your requirements (technical specification, location, schedule, etc.). They will send this RFP to developers who could fulfill your criteria and will ask for individual offers.
3. Comparison Table
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, it is vital to bring the offers to a common platform at this stage of the lease process. On your behalf, we will analyze inter alia the 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 neighborhood of your co-operators or competitors, other factors vital for Tenant.
4. Lease Negotiation
The C&W team will represent you in the negotiations with landlords concerning verifying information provided in lease offers and gaining the best possible commercial terms.
5. Final Recommendation
We prepare a written version of the final recommendation at the end of the negotiation process. In our opinion, we chose the best offer and presented an explanation of our choice, as well as a detailed description of the negotiation process. Such document is usually presented to the Board of Directors to explain the Tenant's choice.
6. Letter of Intent
After getting approval, the next stage is signing a Letter of Intent with the chosen developer. The letter includes all commercial agreements between the Tenant and the Developer. Letter of Intent is the basis for an individual lease contract to be prepared by the landlord.
7. Lease Agreement
Not being a law company, Cushman & Wakefield does not offer legal consultancy for the tenant. But we can still recommend the set of chambers or cooperate with the Tenant's lawyers, making sure that negotiations concerning the lease agreement proceed without complication and according to the rules in the Letter of Intent. After signing the lease, the landlord starts preparing the industrial unit for occupancy. During this time, C&W will assist you with the coordination of the technical teams, with the finalization of the project, and with progress tracking. C&W can also find temporary real estate solutions before unit completion.
