Tenant Representation Typical leasing time frame

OVERVIEW OF TENANT REPRESENTATION PROCESS

If you are planning to lease  retail, office or industrial space, it will typically require 1 - 3 months from the start of the process through the execution of the Lease by the Landlord and Tenant.  From the date of the execution of the Lease, it will typically require an additional 1 - 3 months to complete the tenant improvements in the space and open the premises for business. Consequently, the entire process from the start of the leasing process to the opening of the premises for business will be a 3- 6 month period. A typical Leasing Timeline follows.  

 MONTH 1         Determine space requirements and preferred geographic location
                         Analyze available potential properties
                        Tour available properties that meet your requirements
                        Submit Letter of Intent on selected property to Landlord

MONTH 2         Negotiate Letter of Intent to execution by Landlord and Tenant
                        Begin the negotiation of the Lease document

MONTH 3         Negotiate Lease document to execution by Landlord and Tenant

MONTH 4         Commence space planning, architectural & preparation of 
                        Construction Documents  ( if necessary )
                        Begin Construction Contract bidding process
                        Building/Construction permit issued by appropriate governmental authorities

MONTH 5         Commence Tenant Improvement construction 

MONTH 6         Complete Tenant Improvements construction
                        Certificate of Occupancy issued by the appropriate governmental authorities
                        Premises turned over to Tenant
                        Premises opens for business

1) The Leasing Timeline is an overview of the typical steps in a lease transaction and the normal time periods required to complete the steps.  Each lease transaction is unique and the specifics of each deal will determine both the required steps and the time period required from the start of the leasing process to the opening of the premises for business.

2) As an example, the entire process could occur as quickly as 90 days if a client selects a space that requires no Tenant Improvements so that there is no need for space planning, architectural, construction document preparation or construction. This also assumes that from the start of the leasing process through the execution of the Lease by Landlord and Tenant the transaction proceeded fairly quickly and efficiently.

3) On the other hand, if a client leases a space that will be utilized as a restaurant/bar or an office space that has to be demolished and rebuilt to accommodate the client, it may require at least 6 months to get the business open. This is due to the necessary additional time spent in planning, architectural, construction document preparation, construction contract bidding, permitting and the construction of the tenant improvements.

4) If you are contemplating leasing space, please contact us and we will provide you a no cost, no obligation realistic timeline of the leasing process based upon the specifics of your proposed use.


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