Are you looking for a commercial real estate firm to successfully sublease your space? When you are searching for a commercial real estate firm for your sublease, you want to have all the advantages you can get.
One of the easiest ways to get ahead of the competition in the crowded sublease market is by hiring a full-service commercial real estate firm. A full-service real estate firm offers real estate services beyond tenant representation. Some of these services might include project leasing, property management, project management, or investment sales.
In this article, we will explain the benefits associated with hiring a full-service commercial real estate firm for your sublease, including:
- Access to transactions in the market
- Property marketing capabilities
- Access to landlord insights
- Access to both tenant representation and leasing agents
Access to Transactions in the Market
When you hire a full-service commercial real estate firm, you will have access to more information about transactions in the market, including competing subleases.
Project leasing teams provide full-service firms with an abundance of comparables to determine the optimal rate and terms for your sublease. This will help you make sure you don’t set your rate too high or too low, which can cause your sublease to sit on the market for a long period of time.
Leasing brokers are also constantly tracking tenants in the market, and your brokers can use this information to identify and pursue prospective tenants who are looking for space similar to yours.
Property Marketing Capabilities
When you hire a full-service firm, they should have a property marketing process in place to provide you with the essential marketing tools you need to market your sublease. They should be able to quickly and efficiently produce high-quality marketing collateral for your property including:
- A flyer that can be downloaded or printed showing property features and highlights
- A listing on their website and other commercial real estate listing sites
- Targeted email campaigns
- Inclusion in the firm’s monthly inventory report.
Your marketing materials are a large part of what will move your sublease space. When hiring a firm, you should make sure you are hiring a reputable one that can provide the necessary tools you want.
Access to Landlord Insights
Landlord insights are a valuable advantage for your sublease. Landlord brokers know what types of spaces are appealing to tenants right now and what aspects of your space should be highlighted.
These insights and relationships can help your brokers expertly negotiate with your landlord if your sublease language in your lease is unclear. This can be particularly helpful when it comes to landlord consent and recapture rights.
It’s valuable to come to the conversation armed not only with your own preferences and needs, but an understanding of the landlord’s motivations and mindset.
Access to Both Tenant Representation and Leasing Agents
The most compelling advantage you have when you hire a full-service commercial real estate firm for your sublease is their ability to build a team with both leasing brokers and tenant representation brokers on it.
This means you have an expert tenant representation broker and you have the ability to bring in a leasing broker who is in the market working and negotiating with tenant rep brokers on a regular basis.
While it doesn’t always make sense to structure your team this way, it can be especially helpful on large subleases where you might be engaging with multiple subtenants or competing on a more apples-to-apples basis with direct blocks of space in the same building.
As you can see, there are many advantages to hiring a full-service commercial real estate firm for your sublease. And the best part is that you pay the same price that you would at a tenant-rep only firm. If you want to put your sublease space ahead of the competition, there is no reason not to hire a full-service firm.
If you’re ready to hire a full-service commercial real estate firm for your sublease, schedule a consultation with one of AQUILA’s expert tenant rep brokers today.