Drive your real estate process instead of being driven by it
Mitigating risk, removing uncertainty and reducing real estate costs is the goal 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 increases in rent 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 audit process identifies lease provisions that may be costing a tenant more money than necessary and often provides valuable information a tenant can use to obtain more favourable terms when renewing or renegotiating an existing lease.
The cost to build and/or rent wet lab space is extraordinarily expensive so the key to reducing real estate costs 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 Lab Occupier solution.
The best approach to finding lab space depends on the type of space required. Many startups who are open to sharing space often have more options from which to choose. However, current demand for lab space is so high and supply all but non-existent that space is often leased before it comes onto the market. Purpose-built wet lab buildings and shared-lab facilities are on the horizon but demand will continue to outweigh supply.
Tenants are often surprised their real estate lease can be renegotiated prior to expiry. Depending on a landlord’s position and market circumstances there may be opportunities to immediately reduce expenses by extending the lease term, obtaining new inducements, removing clauses that favour the landlord and/or landlord rights that will increase tenant real estate costs.
