Quickly supply alternative strategic theme areas vis-a-vis B2C mindshare. Objectively repurpose stand-alone synergy via user-centric architectures.
Years Experiences in Occupier Services
There are low standards in commercial real estate brokerage for knowledge and performance which means solutions tabled for companies in need of laboratory space are often created by sales representatives with little to no experience in life sciences. The risk is that Frankensteined plans and budgets result in significant financial exposure that is not discovered until tenants occupy their space.
The LabOccupier team is a contract real estate organization that works solely on behalf of tenants in need of specialized laboratory space. Our experience, market knowledge and transaction process are valuable resources that generate more value for our clients from fewer square feet.
It is important to note that because we work exclusively with tenants our team is uniquely positioned to execute assignments without any concern for potential or real conflicts of interest.
Mitigating risk, removing uncertainty and reducing real estate costs is the focus of every tenant. These goals have historically been difficult to achieve because listing brokers condition tenants to focus only on what is available and affordable and that rent increases are inevitable. Occupier Services turn the traditional real estate model on its head by allowing tenants to see what is possible in a negotiation – and everything involved in the process.
The cost to build and/or rent wet lab space is extraordinarily expensive so the key to reducing real estate expenses lies in determining what exactly is required. Analyzing the size and number of research teams, the type of research conducted, specialized equipment and facilities, lab support services, additional space needs and how each interact is critical to obtaining the right solution.
Demand for wet lab space across Canada is increasing but supply in most markets is often all but non-existent. Because of our focus on life sciences, organizations make us aware of lab space that is available for lease but not yet in the public domain and access to this information is critical to identifying all options available for consideration
Tenants often execute a lease before knowing the cost to build and occupy the space. The Lab Occupier process allows a tenant to complete an initial space plan which permits the preparation of construction budgets. These steps are completed prior to committing to a lease and help significantly mitigate financial risk.
Real estate projects in the Life Sciences sector are much more complicated than a typical commercial transaction so experience is critical to mitigating as much strategic risk as possible. Knowing what issues to address and how to position them in a negotiation is important to the success of any real estate project.
The measure of value in every commercial real estate transaction varies with perspective. Tenants typically measure value solely on the annual cost of Gross Rent. Landlord value is based on a Net Effective Rent that is calculated after the amortization of transaction costs that can include such items as permits, architectural fees, real estate and engineering fees and construction costs. Knowing what is important to a landlord in a negotiation and how they determine value is as important as framing the ‘ask’. The Occupier program focuses on identifying all disclosed and undisclosed transaction costs so a tenant can make an educated decision with the best information at hand.
Whether representing clients with a single facility or multiple locations across Canada, our team serves as an in-house real estate department that focuses on proactively reducing occupancy costs as market opportunities arise.
For more information, contact Lennard Commercial Realty
The LabOccupier team is a contract real estate organization that works solely on behalf of tenants in need of specialized laboratory space.
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