What is Commercial Tenant Representation? Commercial Tenant Representation is a partnership between a tenant or buyer, and a real estate broker to act as its exclusive agent and trusted adviser, providing market-specific expertise, site selection, financial analysis, and deal negotiation. Caton Commercial offers tenant representation services in Naperville, Chicago, and surrounding areas. Caton Commercial Real Estate Group has built a solid foundation upon the fundamentals of sound market knowledge, a vast network of retail owners and landlords, and an in-depth knowledge of the retail process. Couple these fundamentals with embracing the latest changes in industry trends and technology and Caton Commercial Properties provides a leading-edge approach to Commercial Tenant Representation.
Tenant Representation is a partnership between a tenant and a commercial real estate broker where the broker works exclusively for the tenant; providing market expertise, site selection, financial analysis and deal negotiation.
Tenant Representation brokers assist tenants in determining the best location to open a business or expand an existing business by analyzing many factors including demographics, co-tenancy, and property condition. Once a property is located the broker will prepare, present and negotiate offers on the tenant’s behalf. Think of the broker as an extension of your business team.
The tenant representation process begins with the tenant reviewing their current locations, if any, then choosing one or more desired new markets, and determining site criteria and budget for their new locations. Once the Tenant’s criteria are clarified a commercial real estate broker will begin researching that market to determine competition, available spaces, pricing, amenities offered, and more. When all available locations have been qualified based on the tenant’s criteria the broker will present them to the client for review. After a location is agreed upon the negotiation process begins, often with a Letter of Intent to Lease. When the landlord and tenant have agreed on all terms, a lease can be drafted and finally executed.
A tenant representation agreement is a written document between a tenant and a commercial real estate broker that solidifies a partnership in which the broker will work in the client’s best interest in locating real estate and the broker has the reassurance that the client is committed to working solely with them in locating new properties.
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Advantages of hiring a Commercial Tenant Representation Specialist
A Commercial Tenant Representation expert from Caton Commercial provides you with the following services that can save you time and money:
• Real-time market information and analysis
• Needs analysis
• Site selection based upon target demographics and consumer trends
• Ready access to commercial property owners and landlords
• Expertly negotiated deal terms and contract negotiation
• Brokerage fees are typically paid by the owner or landlord in the transaction
When do you need a Retail Tenant Representation Specialist?
A Tenant Representation Specialist should be engaged when your company has any of the following needs and should be involved in the early stages of the process:
• Market Expansion
• Relocation/In-place expansion
• Portfolio re-alignment/work-outs
Commercial Tenant Representation Services In Naperville Provided:
Market Analysis/Needs Analysis
Caton Commercial brokers focus on our client’s needs in relation to the demands and needs of the market. We utilize the latest demographic and market analysis software.
Caton Commercial Real Estate Brokers identify sites within the location profiles that meet our client’s specific needs. Economics, target demographics, size, access, co-tenancy, parking, and merchandising mix are all analyzed. Our relationships with commercial property owners, landlords, and municipalities allow us to quickly, and efficiently, determine the viability of sites for our clients.
Caton Commercial prepares, presents, and negotiates a comprehensive Letter of Intent (LOI) to the property owner or lessor on our client’s behalf. Upon the execution of an LOI between both parties, we coordinate the lease or purchase contract negotiation between parties and their respective attorneys. Our continued involvement in all negotiations ensures that the LOI is honored and all negotiated terms translate to the lease.
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