Today, most companies are looking for ways to reduce occupancy costs.  In some situations, the need may arise to sublease all or a portion of an existing space, or terminate a lease midstream. 

Whether due to the need to consolidate multiple offices, close a branch, exit a market, or relocate to another location because of economic or non-economic factors, Community First Commercial Real Estate is your source for sublease and space dispositions.

Strategy

Community First Commercial Real Estate helps clients create operational efficiencies, which may include subleasing excess space, or terminating an existing lease.  The strategy step includes:

• Understanding the function/ layout of your ideal space
• Looking for ways to create operational efficiencies in your existing space by reducing square footage
• Conducting a needs analysis (become more efficient, reduce costs, etc.)
• Uncovering competing subleases in the market, project, and building
• Creating a recovery model outlining costs, as well as proposed savings

Marketing

Usually, whether the end goal is a sublease, or a termination, lease termination negotiations are conducted on a parallel track with marketing the space for sublease.  Thus, regardless of the objectives, a thoughtful approach to attracting prospective Subtenants is a necessity.  The marketing process includes:

• Creating marketing materials
• Determining prospective Subtenants
• Developing a comprehensive marketing strategy
• Utilizing marketing materials, listing services, promotions, etc. to create market awareness for your Landlord, prospective Subtenants and brokers

Negotiations

The final phase, negotiations, includes:

• Crafting and submitting proposals to Subtenants, brokers, and the Landlord (termination proposals/ lease buyouts)
• Managing each step of the negotiation process from start to finish
• Representing each client as their fiduciary, negotiating the most client-favorable terms
• Updating the recovery model, outlining savings created