Voo La Voo Cafe is looking for commercial real estate. They want to find a new location for their restaurant space. They currently reside in Wilton Manors, but due to the area redeveloping they are looking for commercial real estate. When looking for commercial real estate it is very helping to work with a commercial realtor. Residential realtors use different search tools, such as the multiple listing service. Commercial realtors use Costar, Loopnet and a few others. But the main thing about commercial realestate is relationships. Many of the deals happen due to relationships as spaces remain off market. One of the reasons why is when huge portfolios have a vacancy many of the time a commercial realtor already has a restaurant or retail shop for that space. So the listing representative will reach out through the network and contact the realtors representing the type of businesses they want in their space.
Tenant Representation
Normally a commercial real estate agent will have their clients sign a tenant representative agreement to have a commitment from the client. With that commitment it allows us to start marketing the brand to many of the brokers and portfolio managers that have vacant spaces that may not yet be on the market. Time and time again owners and companies who I speak with do not want to commit to having a commercial real estate agent represent them. However, ultimately it hurts them as the very best class A spaces will never see the light of day and only brands that have the tenant rep will get to see the spaces sometimes. Furthermore, a commercial realtor will many times be notified of a space before it goes on the market. That commercial realtor will send the spaces to their clients. Personally, if a tenant is not committed to me, I will not spend much time sending them the very best spaces as I am not sure if there is any loyalty. It’s take years for some commercial realtors to develop these relationships and we like to work with the business owners who are committed seeing us having success. In turn, we will work very hard to find spaces for these tenants. Some of the activities I like to do is mass email commercial realtors, post in our online networking group, go to networking meetings and call around to see which commercial real estate agents have open vacancies that may fit.
Another great benefit of having a tenant representation is that we negotiate for you. You have a representative looking out for you best interest. Why negotiate direct with the Landlord when you can have someone working hard to make sure you have the best terms. It’s really a win win situation. Plus, tenant representation does not cost money. It’s a simple agreement that says you will work exclusively with a commercial real estate agent and in turn they are going to commit to having your best interest at hand.
If you are looking for. commercial real estate agent in Fort Lauderdale call Adam Docktor with Native Realty.
