MAP understands that every business has different needs when it comes to office space.
The MAP commitment is that a broker/principal will work with you throughout the process, to understand your unique needs and to give you the information necessary to get the best available space and the best possible deal.
MAP will work with you to prepare a detailed analysis of your organization’s needs, and then develop a model to help you understand the pros and cons of available buildings and spaces – including your current space. The selection criteria can include a host of factors: location; potential costs; access to public transportation and parking; floor size; environmental and accessibility issues; the financial strength of the building owner; and the way the space feels to the people who will work there and the image it projects to people who will visit.
Through this process MAP helps you define what you are looking for in your office space, which in turn helps MAP come up with appropriate options. Having options is the key to any successful negotiation because options create leverage. The more good options you have, the stronger your negotiating position.
Throughout the process, MAP prepares detailed computer analyses of the economic terms of any potential deal. These analyses take into account a multitude of variables, such as base rent, rent escalation, real estate taxes, operating expenses, construction allowances and the effect of a building’s occupancy rate on pass-through expenses. As the process moves forward variable costs are more precisely defined, giving you complete information about the likely total occupancy costs over the entire term of the lease.
MAP uses these analyses to track negotiations with various building owners, allowing you to make an accurate financial evaluation of each office-space option. MAP also prepares “mirror” analyses, showing how much profit a building owner stands to make from any proposed lease. This information puts negotiating power in your hands.
Once properties have been identified that meet your specific needs, MAP contacts each building owner to schedule on-site visits to see the space. These visits give potential tenants a chance to get a feel for the space and sort out the options you really like from the ones that are a good fit only on paper.
Requests for Proposals (RFPs)
After touring the most appropriate spaces, MAP will prepare requests for proposals (RFPs) and submit them to building owners. The RFPs ask the owners to address a variety of important issues, such as rent escalations, termination conditions, and the potential for expansion and lease renewal. The responses to these RFPs provide standard information that makes it possible to assess the various options within and among competing buildings. The RFP responses also save time by allowin
g you to eliminate buildings from consideration if the owners will not or cannot meet certain requirements that are critical to your organization.
Concurrent with the RFP process, MAP will prepare space plans for each building. The space plan is a drawing that shows how your organization’s personnel and equipment will fit into the proposed site. Developing plans at this stage helps identify space-related problems not apparent during a physical tour of the site.
The space plan makes it possible to determine the exact square footage requirements for each potential location, as well as the construction costs necessary to make your ideal office a reality. The space plan also becomes an integral part of a detailed work letter, which addresses technical issues (total power requirements, voice/data cabling, illumination levels, HVAC), sets forth the responsibilities to be carried out by all parties, and includes important stipulations about the quality of workmanship and materials used in construction.