Retail Solutions Services
Our Brokerage Division provides you with the full spectrum of retail services: Landlord, Tenant, Vendor and Purchaser Representation. Our transaction expertise encompasses single property and portfolio acquisition and disposal, pre-leasing, leasing, sub-leasing, lease renewal, lease restructuring, lease buy-outs, build to suit, build to lease, sale/leasebacks, property exchange and sealed bids.
Our clients cover the gamut: local, regional, national and international tenants, landlords, purchasers and vendors; single properties to large portfolios. Their requirements may be diverse but our single objective is to provide a solution that best solves their real estate problem.
Tenant representation occurs when the tenant retains us to act on their behalf to locate suitable premises, negotiate lease renewals, sub-lease, restructure their existing leases or negotiate a lease buy-out. Since we act as the tenant’s agent we are legally and morally obligated to act in the best interest of the tenant: however our broker’s fee is usually recovered from the landlord.
We have access to virtually all of the retail space that is available for lease in the Atlantic region. It is industry practice for landlords to co-operate with commercial brokers on the leasing of their retail space. If the space is listed with a commercial broker it is usual practice for the latter to co-operate with other commercial brokers to get it leased.
Landlord representation occurs when the landlord retains us to lease vacant space, undertake pre-leasing, lease renewals, sub-lease, restructure existing leases, or negotiate lease buy-outs. In order to get the most advantageous terms for the landlord we (1) reduce the risk of the transaction to the tenant to the greatest degree possible by creating scale plans they can use for their space planning utilising our in-house Lasercad® space measurement resources, (2) price the space appropriately by using our proprietary information technology platform, CompuVal®, (3) expose the premises to the largest number of qualified, potential tenants utilising CompuVal's® Prospect Leasing Database and a co-broker network. We have carefully structured our leasing commission so that it is “broker neutral”; we get the same fee whether we lease the premises with the aid of another broker or directly ourselves. Since we have no incentive to “double end” the commission our objective is directly aligned with that of the landlord … to get the premises leased! We can also arrange for the premises to be certified to the BOMA standard by our Lasercad® Division.
If you wish to purchase a shopping centre or free standing retail building, our Brokerage Division will provide you with our Purchaser Representation service. We act on your behalf to locate suitable properties, advise you on their market value and where appropriate, leasing potential, and then negotiate the acquisition for you on the most advantageous terms. Since we are the purchaser’s agent we are legally and morally obligated to act in the best interest of the purchaser: however our broker’s fee is usually recovered from the vendor.
Vendor representation occurs when the vendor retains us to sell their property. In order to get the most advantageous terms for the vendor we (1) reduce the risk of the transaction to the purchaser to the greatest degree possible by detailing the fiscal, physical and legal attributes of the property in a Master Sales Prospectus, (2) price the property appropriately by using our proprietary information technology platform, CompuVal®, (3) expose the property to the largest number of qualified, potential purchasers utilising CompuVal's® Prospect Sales Database and a co-broker network. We have carefully structured our sales commission so that it is “broker neutral”; we get the same fee whether we sell the property with the aid of another broker or directly ourselves. Since we have no incentive to “double end” the commission our objective is directly aligned with that of the vendor … to get the property sold! Our Brokerage staff are the product of our own seven year real estate training program which includes negotiation as a defined skill set.
Our Economic Intelligence Unit uses our geographic information system (GIS) to advise retail tenants on the demographic, psychographic and fiscal profile of consumers in their primary and secondary market areas and provides trade area analysis to shopping centre owners and potential purchasers.
Our Valuation Division provides seven types of reports each tailored to the requirements of vendors, purchasers and mortgagees who need to establish the property’s market value for disposal, acquisition or financing purposes. The reports span the spectrum from a preliminary opinion of value to be utilised in broad decision making, to a formal “court ready" document suitable for legal proceedings.
Property Tax Amelioration
Property taxes typically comprise a substantial portion of the property’s total operating costs. This tax burden falls right down to a business’ bottom line and thus adversely impacts the net absolute rent a tenant can afford to pay for their space. If the building is owner occupied the quantum of the property taxes can impair the market value. Our Property Tax Division first reduces the tax load by negotiating a reduction in the assessment or by successfully appealing to the relevant court. The property is then enrolled in our PAMS® Property Tax Manager program to ensure that the tax savings so achieved are not lost in subsequent years.
Lasercad® Space Measurement
Lasercad® is a property measurement service whose output can be used for, (1) leasing and space planning purposes by landlord and tenants, and (2) as an asset management tool by landlords. Our Lasercad® Division certifies Gross Leasable areas for retail space in shopping centres to the BOMA Standard Method of Measurement and creates Perimeter, As Built, Utility, Fire Evacuation and Space Layout plans.