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CRES

What We Do

Scope of services Corporate Real Estate Solutions provides.

Corporate Real Estate Solutions (CRES) comprehensive approach ensures that our client would be involved in each phase of the process, and apprised of key benchmarks-from initial team selection to final lease agreement.

As your representative, we make every effort to utilize your time efficiently. This means we do our homework and present clear, thorough and understandable information that will enable you to make accurate comparisons, thus facilitating the decision making process.

THE PROCESS

Phase I - Needs Analysis - Establishing the Criteria

CRES will meet with our client to determine your future business plans. CRES thoroughly reviews and forecasts each tenant's current and future facility needs accurately and specifically. We understand that your firm is unique and has specific requirements that are different from other firms. Certain issues that will discuss include:

  • Square Footage Requirement
  • Space Planning Requirements
  • Present and Future Requirements
  • Type of Space (Class A, Class B, Class C)
  • Location
  • Location with respect to clients, Competitors and Vendors
  • Necessary Amenities
  • Access to Transportation Modes
  • Parking Availability
  • Move Date
  • Special Needs
  • Temporal Issues

During this time, we define real estate requirements/strategy:

  • Short and long term organization and business needs
  • Analysis of existing leases
  • Renewal options/value
  • Space programming
  • Location parameters
  • Financial goals/parameters
  • Time frames and project timeline
  • Flexible for exit strategies 

Next, we define alternatives:

  • Sublease/Long-term/Short-term
  • Lease space/different buildings and locations
  • Purchase options

Subsequent meetings may involve:

  • Architect/Space planner
  • Construction Estimator
  • Attorney*
  • Moving Service Consultant
  • Telco/Data/Cabling

Finally, we utilize established programs that apply to current market conditions:

  • Supply/Demand
  • Rents/Concessions/Tenant buyouts
  • Comparable tenants industry standards (building, size nature of firm)

Our Needs Analysis allows you to evaluate such factors as current economic conditions, operating considerations and contractual flexibility. We analyze the structure of your organization as it relates to physical space needs. This enables your company to make objective and educated decisions regarding lease renewal or relocation scenarios.

Phase II - Market Research Evaluating the Options

With the information gathered and processed the Needs Analysis is customized for your company. CRES will then develop an extensive Market Profile Survey Analysis based upon your business' objectives and goals and how these goals relate to your facility requirements. CRES' Market Profile Survey details the supply of current and future space opportunities. 

We prepare a "Market Survey" of specific properties in the Market:

  • Existing Buildings
  • Other Markets or Submarkets
  • Buildings Under Construction
  • Upcoming Spaces-Existing Leases 
  • Subleases

We then review the following criteria to develop a short list of options:

  • Location, Access, Public Transportation
  • Demographics
  • Building Features
    • Parking
    • Taxes & Operating Expenses
    • Rental Rates
    • Tenant Improvements/Building Standards
    • Ownership Structure
    • Security
    • HVAC age, type, conditions
    • Existing tenant' rights/incompatibility issues

A comprehensive computer-aided survey of qualified buildings and property profiles on each building will accompany the Market Profile Survey. Property leasing agents will also be interviewed on their building's space availabilities. This will include existing projects with the quantity and quality of space required and also any new projects with projected occupancy within your timing need. Due to CRES' dedication to the adaptation of cutting-edge technology, we are able to track and ferret-out unforeseen space opportunities that the average broker has not considered.



Phase III - Building Investigations & Tours

Our experts carefully review your customized Market Profile Survey analysis with you and address your specific short and long-range facility strategy. We then recommend some qualified alternatives. Whether these alternatives are buildings and/or construction sites our next step is to schedule on-site tours of these properties. At your convenience, we arrange and coordinate  tours of potential properties to minimize your time

CRES develops a Tour Package that includes the pertinant information of the selected locations.

Tour Package

1) Map
2) Color photograph of building
3) Floor Plate/"as built"
4) Information sheet on building
5) List of major tenants in building
6) Analytic Information: Vacancy and rental rate history
7) Market economics



Phase IV - Analyzing the Alternatives

Following an in-depth study of market options, based on our client's specific requirements, we complete a review and analysis of selected alternatives.

During this step, we supply potential Landlords comparative Request For Proposals (RFP), which address the following issues:

  • Term of Lease
  • Commencement Date
  • Lease Premises
  • Proposed Base Rent
  • Proposed Escalation
  • Concessions
  • Building size and Floor Plate Size
  • Parking
  • Base building tenant improvements (i.e. ceiling, shell conditions)
  • Security
  • Non-Disturbance
  • Method of Measurement
  • Lease Term
  • Access
  • Expansion/contraction rights and opportunities
  • Signage
  • Taxes/Operating Expenses
  • Audit Rights
  • ADA Compliance
  • Security Deposits
  • Moving Allowance
  • Assign/Sublease Rights
  • Janitorial Specifications
  • Building Owner and Lender Information
  • Environmental Exposure

We also present and insightful comparison of building operations:

  • HVAC
  • Life Safety Systems
  • Elevator Bank
  • Security
  • Electrical & Communication Capacity
  • Parking Garage


Phase V - Financial Analysis

At this point, we deliver a complete financial comparison through both our proprietary lease analysis program. CRES will perform a computer enhanced financial and qualitative analysis of each building alternative. These analyses will be summarized in a spreadsheet format, which includes the economic terms being quoted, by buildings as well as those terms, which might possibly be negotiated. Other variables include base rent, rent escalations, real estate taxes, operating expenses, various concessions, and discounting perspective and present value factors.

These analyses will compute the economic terms in relation to average annual costs, average monthly costs and average cost per square footage. These analyses give pertinent information throughout the project, from selection of qualified properties, through space planning, to final negotiation of economic terms, as well as convey competitive pre-tax options analysis and present value analysis.

From this quantitative standpoint, CRES evaluates each analysis as it relates to your company's budget parameters, cash flow, lease assumption/buyout/sublease, and cash allowances. During this phase CRES also evaluates construction quality, developers experience and reputation, and architectural image and style.

Phase VI - Space Planning

Next, we prepare a preliminary space plan and work letter for each alternative. The Space Planning Phase is to provide a visual picture of how your firm will actually fit into a specific space. It is during this phase that the design concept is developed, construction documents produced and construction bids obtained. Once the space plan is developed this plan also becomes the source for a detailed estimate of the construction costs associated with constructing the space to meet your firm's specifications. Space plans show how particular sites can be designed to their fullest advantage and greatest efficiency.


CRES provides the construction and management ability to guide our clients through this phase by:

  • Monitoring and coordinating between the architect and client.
  • Reviewing and commenting on all documents and drawings produced by the architect and consultants.
  • Continuous monitoring of schedule and budget.
  • Interacting with landlord's to maintain the flow of information in order to expedite pricing and preparation for construction.

A comparison of the various space plans can indicate which buildings will become leading choices in the selection process. For companies that want to renegotiate their lease instead of relocating, this plan includes more efficient ways of utilizing your existing office space for current of future use.

Phase VII - Bringing It All Together

During this crucial phase, the decision has been made to move forward with a particular building. This is where CRES' expertise and commitment to your satisfaction really pays off.

  • Confirm space size, rentable and usable area.
  • Lease Term
  • Base Rent
  • Base Year
  • Taxes & Operating Expense Adjustments
  • Occupancy Date
  • Tenant Improvements:
    • Work Letter
    • Building Standards
  • Options:
    • Expansion
    • Contraction
    • Cancellation
    • Security Deposits
    • Free Rent

This step culminates in a Letter of Intent (LOI) to our client's top selection.

Phase VIII - Lease Negotiation

The next step is to negotiate the final agreement with your selected options and to implement the transaction. The first step in this phase is to address and clarify the economic issues that hold to the lifetime of the lease. Among the economic issues to be negotiated are the following:

  • Gross vs. Net Rental Rate
  • Open vs. Fixed Escalation
  • Tax and Operating Expenses
  • Rent Abatement
  • Signage / Identification
  • Subletting and Assignment Rights
  • Lease Options
  • Renewal / Relocation
  • Termination
  • Expansion / Contraction
  • Guarantees and Security Deposits

Negotiating the lease language is critical and should involve your firm's attorney. We will conduct a word-by-word review of the proposed lease with the intent of insuring that the business terms of the lease are clearly set forth and the legal terms are favorable to your company. The goal during this phase is to give the tenant the greatest savings possible at the end of the process.

Phase IX - Post Phase-After Lease Execution

Corporate Real Estate Solutions' assistance to our client does not end when the lease documents are executed. We also do everything necessary to ensure schedules are met, help coordinate your punch list, and follow up to see that key issues are detailed and resolved. AFTER LEASE EXECUTION CONTINUED:

  • Tenant Improvements
  • HVAC Balancing
  • Final Construction Review
  • Janitorial Adjustments
  • Landlord Follow-through


Phase - X Construction Phase

Rarely does the Client have enough time to devote to monitoring the Construction Phase while maintaining full work responsibilities, therefore CRES provides technical and management services to monitor this phase. CRES supplies your company with a broad range of interior construction services as they build out new offices or renovate existing space. The Client is kept informed of the project progress and is provided the necessary information required to make decisions. Through your CRES consultant, you will be able to become an active participant in the construction process.

A final walk-through allows both you and CRES to make sure that all aspects of the construction are completed acceptably.

CRES provides technical services to monitor the construction phase by:

  • Monitoring and overseeing the construction process by visiting the job site and attending job site meetings at intervals appropriate to the stage of the work.
  • Monitoring ongoing design modifications
  • Reviewing and evaluating change orders to the contract
  • Monitoring the preparation and completion of "Punch Lists"


Phase XI - Equipment Selection

CRES' service and commitment does not end with the signing of the lease. We understand that any move disrupts a company's operation, so we try to help keep this disruption to a minimum. CRES will coordinate the selection of a mover and supply a detailed list of vendors that might be of help including; furniture vendors, office supply vendors, telephone vendors and computer/cable vendors. CRES will also monitor the arrangement for services at the new location (plant rental, ordering of new stationary, change of address notices, coffee/catering services, etc.). Tracking progress during the construction and move-in and confirming that due dates are met not only takes pressure off of your company, but lets us keep our clients satisfied now and in the future. CRES will serve as your link to the building manager. If any problems or questions arise during the life of your lease we will be on hand to assist you in getting it resolved. Just remember, we are only a phone call away!

Phase XII - Occupancy

Our objective is to build a continuing relationship with our clients. CRES will continue to be available on an ongoing basis to assist your company with any problems, or answer any questions which may occur throughout occupancy.

Once the lease has been fully negotiated and executed it is important to audit the actual amounts that the Landlord passes through or bills the Tenants during the following lease years. CRES will provide expert lease audit services throughout your lease term. We will also gladly reevaluate your lease at any time during the term to assess whether changing market conditions warrant renegotiation.

In addition to our comprehensive lease summary, another vital service we offer is lease administration:

All revenant dates are tracked and input into our in-house database.

  • Commencement
  • Options (renewal, expansion)
  • Annual Operation Expensed (Audit)
  • Final Construction Documents
  • Completed Space Plans

The combination of client satisfaction and outstanding results continue to earn CRES long-term relationships and repeat assignments.

Let Corporate Real Estate Solutions be your answer to all your Commercial Real Estate needs!

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