Looking for new space for yourself or a tenant? Is this the time to consider relocating the business, sometime during the new lease term? “You bet!”, says Allen Buchanan. It’s part of your initial lease strategy to anticipate changes, including business growth or contraction. Are there lease provisions that can help ease the pain, should the need arise?
What happens when a tenant encounters unanticipated issues and needs, or wants to make a move before the lease ends? What does the tenant do if it can’t move? How do you create 25,000 square feet of space out of a 20,000 square foot footprint? Hint: it’s not necessarily building a mezzanine or building out.
Allen doesn’t just move dirt or tenants, he helps them figure out the best solutions. Listen in as Allen Buchanan, Simon Walker and I discuss the options and issues, and how best to handle them, from both the tenant and broker side.
- An “event” usually spurs relocation
- Startup companies
- Downsides of a 3-year lease
- Lease termination provisions
- Mid-lease relocation
- Allen’s article: Five “Gotcha” Issues that All Occupants Should Negotiate
- E-commerce considerations
- Alternatives to relocation
- Creative material handling
- Vertical lift module (VLM), Kardex Remstar
- Brokers “pay it forward” by referring good material handling solutions
- What should the tenant ask the broker? What should the broker ask the tenant? What’s the real reason for the move?
- Where the CEO lives might not be the best real estate location
- Improving the customer experience in retail & e-commerce
- Mixing retail into industrial space
- Caller Kristian Lee (@commercialmns): Seeing co-tenancy provisions nationally?
- Beer/wine tasting rooms attached to industrial. Bootlegger’s Brewery, Fullerton, CA. Kristian says Chicago is full of them.
Allen joined Lee & Associates, Inc. – Orange in 1984 after five years in the consumer goods business with Procter and Gamble and the Gallo Winery. Allen has spent his real estate career in the industrial arena in North Orange and West Riverside County. His specialties include user representation, owner representation and investment sales. Allen became a shareholder in Lee & Associates, Inc. – Orange in 1988. Since then he has ranked within the top five producers of the Orange office for eight of the past nine years. Allen was the Top Industrial Producer for 1991, 1993, 1995, 1996, 1999, 2004, and 2010.
Simon leads Raymond Handling Concepts in Northern California, Northern Nevada, and the Northwest. He has worked with the Raymond Corporation since 1999, where he start his career in Toronto, Canada. Raymond Handling Concepts specializes in the RAYMOND brand electric lift trucks, pallet racking, conveyor and warehouse automation, helping warehousing/distribution and manufacturers alike to increase storage density and and improve materials handling productivity.