Preplanning and Programming: Before a customer can begin to evaluate his or her space options in the real world, it is necessary to perform an analysis of present and future space needs and trends. A program will present the most efficient space utilization patterns derived from surveys of department managers, utilizing agreed upon company design standards for equipment, furniture and specialty needs for each level of employee. This analysis will be translated into models of square footage and likely growth scenarios. These studies are most useful to demonstrate various options showing how the greatest efficiencies in space utilizations are achieved. Understanding space needs today, with projections into the future that have some degree of certainty, will lead to more accurate operation cost budgeting.
Site Search- Dickstein Real Estate Services has a complete database of all of the available commercial space in Central and Northern New Jersey. We subscribe to CoStar, the preeminent listing service for all commercial real estate in major cities across the US as our chief database of listed properties. CoStar tracks over 25,000 office and 55,000 industrial properties monthly monitoring more than 400 million square feet of offices and 1 billion square feet of industrial properties in the Central and Northern New Jersey markets. Besides being able to search for available space options, Dickstein Real Estate Services has experience negotiating in the multiple Cities, Towns and Counties throughout New Jersey.
Market Research Analysis- Finding space in New Jersey is one of the most complicated undertakings anywhere in the United States. New Jersey has the greatest density of population of any State in the Country. Markets blend from one municipality to another and there are no obvious divisions or boundary lines. Working in multiple markets provides us with the experience to conduct sophisticated site searches that can literally yield a needle in a haystack of properties, saving you time and resources. Our experience in the market can yield you a wealth of history and common sense. Understanding the nature, zoning, and hot buttons that our customers require, is the basis for sifting through thousands of properties to come up with a short list that makes the most sense from the start. We show you the tricks and secrets of how to compare properties, providing you with the information necessary to make an informed decision.
Financial Analysis- Our unique ability to prepare custom financial spreadsheet analysis provides our clients with the answers to their financial questions and communicates cost projections to the decision makers in the way they wish to most readily absorb the input. We pride ourselves in taking complex financial formulas and presenting it in a way that can be understood by the novice real estate manager as well as the CFO of the company.
Site Selection- Once a qualifying list of properties is determined, using the specific criteria for site selection developed during the Preplanning process, a survey of the properties will be conducted. We will then compare the features and costs of the various properties in order to develop a short list. We will then prepare Requests for Proposal using site selection criteria from our preplanning process and information about the Properties obtained during our initial surveys. From Proposals received from landlords of properties under consideration, we will then prepare a comparative spreadsheet analysis using proprietary financial spreadsheet modeling as well as a comparison of the key intangible items that are paramount to the site selections process.
Lease and Purchase Negotiations- One of Dickstein Real Estate Services greatest strengths is our unique ability to break down the complexities of lease terminology and purchase agreements, presenting them to you in plain language, so that the terms of a transaction may be understood by everyone in the decision making process. We work closely with you to define the business objectives, identifying the dollars and cents issues. In our approach to negotiating, we will show you where we believe results are most likely to be achieved and describe the path to achieving those results. Our negotiating strategy stems from our understanding how the game is played, something derived from 30 years of experience, so that surprises are held to a minimum and results are achieved for a successful long term relationship with the landlord. Our philosophy to achieving this stems from our belief that each transaction must be beneficial for both parties in order to insure its long term success. For this reason, we approach each transaction by trying to relate to the human factor in negotiations while staying constantly attentive to the details and business terms to be translated into lease language. We work well with real estate attorneys who understand the key business points that have been achieved in the negotiations. Those who understand that it is their chief task to protect their clients by preserving those hard fought business objectives.
Lease Renewals and Extensions- Negotiating an effective lease renewal or lease extension agreement is obtained by incentivizing the Landlord to compete to keep your tenancy in the same manner that he did when securing your initial tenancy. Landlords in today’s world have a large financial incentive to keep a tenant in place as they have no downtime in marketing the space and little build-out work required, in many cases just new carpet and paint.
Subleasing- Effectively marketing a space for sublease can be far more difficult than it appears. The basic problem when subleasing space is that you are competing with the Landlord, who is far better equipped to attract tenants, who has control over the term of a lease and who has the ability to construct the space to meet the needs of different tenants. In a subleasing situation where the tenant is just trying to get out from under a changed circumstance, whether to downsize or grow, there may be little or no budget to renovate the space or pay the commissions of brokers who arrive with tenants. There may also be many restrictions on tenants, such as the landlord’s right to recapture the space, the landlord’s right to keep the profits from a sublease, or a noncompeting provision in the lease. Subleasing is often a tricky business, and having a broker who understands and can explain the obstacles before you can be a great part of making the project into a success.
Disposition of real estate assets- In the case of a sublease, the Tenant will remain liable for the rent in the event a Subtenant does not pay it. For this reason, many Tenants would prefer to simply negotiate a termination agreement, or an assignment agreement, with the Landlord so they do not have to look backward. The key to negotiating a buyout of any type is for the Landlord to have a profitable replacement for your tenancy. To accomplish this, it is important to have a broker who is experienced in the intricacies of subleasing, assignments and the disposition of properties.
Follow Up- Dickstein Real Estate Services provides follow up services to its clients to answer the myriad of questions that arise during a tenancy. Questions from who is it that handles a certain repair, to questions about Operating Expense and Real Estate Tax Escalations. You will never get a bill from us, unlike your accountant or your lawyer. We are there to provide advice whenever you need it. We like to say the only silly question in real estate is the one you forgot to ask. Just ask!