Farnum Company

Commercial Real Estate Services

 

 

Site Selection Process

 

DEFINE REQUIREMENTS

  • Review client's existing lease
  • Determine objectives i.e. renew vs. relocate
  • Establish budget and timetable
  • Determine size and preferred space design
  • Determine location parameters
  • Review building quality and image needs
  • Identify technical and amenity requirements
 

ASSEMBLE TEAM

  • Project Manager
  • Space planner/interior designer
  • Attorney/CPA
  • Telecom provider
 

PREPARE MARKET SURVEY

  • Prepare survey based on previous steps
  • Locate  "unidentified" opportunities
  • Review list of alternatives
  • Assist in building selection
 

TOUR AND EVALUATE PROPERTIES

  • Conduct building tour of likely alternatives
  • Narrow selection to final alternatives
  • Request proposal for selected alternatives
  • Facilitate space planning for top alternatives
  • Review preliminary construction costs
 

ANALYZE PROPOSALS AND NEGOTIATE TERMS

  • Prepare financial analysis
  • Analyze space plan efficiencies
  • Review construction costs
  • Negotiate business terms
 

SELECT FINAL BUILDING

  • Choose top alternative
  • Negotiate final terms and conditions
  • Submit letter of intent
 

EXECUTE LEASE

  • Review lease
  • Review workletter
  • Facilitate lease negotiations with attorneys
 

MONITOR CONSTRUCTION

  • Review working drawings
  • Monitor construction progress
  • Facilitate final walk through
 

PROVIDE POST OCCUPANCY SERVICES

  • Prepare lease abstract
  • Monitor critical dates
  • Perform on-going follow-up