estate is generally your company’s number two expense after human
resources. The process of choosing a facility that offers the right
balance of economics, functionality, flexibility and image is complex
and time-consuming. Making the wrong decision can be costly. Casten Associates has the tools, commitment and experience to help you make
the best decisions for your company.
Casten Associates’s tenant representation professionals can guide you through
the space procurement process every step of the way, from evaluating
your space needs and recommending creative solutions, to lease
negotiation, to moving into your new space. Every tenant is unique, so
we employ a custom approach that meets each client’s need for a variety
of transaction types:
- Space expansions
- Facility relocations
- Space consolidations
- Facility acquisitions
- Lease renegotiations
- Lease renewals
provide essential background information on issues that may materially
affect the decision-making process and have significant financial,
legal or operational repercussions on the company and business unit.
The Best Possible Advice
the countless issues and challenges associated with real estate
distracts you from pursuing your core business objectives.
Casten Associates’ experienced professionals tackle these issues every day.
Engaging the expert skills of our professionals minimizes the
disruption of your business and helps you determine the correct real
do you know what the best possible location is for your operation? If
you need more space, should you seek it in the same place or will space
in an alternative location serve you better? You may be a skilled
negotiator, but do you have the experience necessary to negotiate the
best possible lease terms? The different sites available to you may
vary widely not only in rent and location, but in taxes, construction
costs, energy efficiency, employee demographics, and a host of other
Casten Associates professionals guide you through the entire process. We’ll
help you identify and choose from the most appropriate options and
negotiate the best possible agreement for your chosen location. Our
- In-depth assessment of your business and real estate needs
- Compilation of decision-making data
- Transaction negotiation and execution
- Creation of performance standards
- Identification of real estate alternatives that satisfy guidelines of a strategic plan
- Integration of additional services (program management, construction)
- Establishment of a strategic real estate plan guided by your corporate objectives
- Performance assessment—benchmark goals and objectives versus final outcome
For each potential location, we will evaluate:
- Space efficiencies
- Property amenities
- Traffic patterns
- Area amenities
- Available labor force
- Property operating costs
economic issues to include rental rates, escalations, tenant
improvement allowances, rental and lease concessions, lease language,
renewal and expansion options, etc.
can search for a building with the least amount of publicity through an
exclusive tenant representative who is acting as a fiduciary. This prevents the tenants' employees from becoming unduly alarmed as a
result of the news of a possible relocation. It also permits tenants to
expand or relocate without being scrutinized by current landlords,
competitors, various sales people and the public in general.
Since the exclusive tenant representative will know the client's
requirements and specifications, the tenant's time is saved by
only viewing appropriate, qualifying properties. Also, since only the exclusive representative will be actively searching, market research is not being duplicated.
Objective Evaluations: Since
a tenant representative has no interest in promoting one building over
another, a more objective evaluation of that building can be presented.
These alternatives are presented free from the bias associated with
having to lease buildings which are also listed by that representatives
company. The tenant representative works for the tenant, not for a particular building or owner.
Market Knowledge: Tenants
will achieve greater flexibility and leverage by being educated about
the market as a result of the tenant representative's expertise and
ability to create a competitive environment among different candidate
buildings. This quickly puts tenants who are unfamiliar with a
specific real estate market on the same footing as a knowledgeable
Future Landlord Relations: Since
the tenant representative acts as a mediator and negotiator, the tenant
does not have to be directly involved with face-to-face negotiations.
For this reason, a toughly-negotiated lease will not create ill will
between landlord and tenant.
Landlord Comfort: A
developer or building owner will be assured of a tenant's
qualifications and ability to negotiate a lease when a qualified,
experienced, tenant represenative is involved. This involvement permits the landlord to acquire all necessary information quickly so that an expedient decision can be made.
By law, a real estate agent has a fiduciary duty to act in the best
interest of his/her principal. A real estate broker retained to
represent a tenant is obligated to negotiate the best deal for the
tenant consistent with what he/she believes the landlord will accept.
This is true even though he/she will be paid by the landlord if a
lease is effected between the landlord and the prospective tenant.
Market intelligence is a critical tool in managing risk and making
decisions grounded in facts. Casten Associates’ research and information
services play a critical role in the analytical process. Our research
analysts provide a variety of support information, such as:
- Space availability
- Domicile issues
- Absorption rates
- Employee retention and recruitment potential
- New construction
- Effective rental rates and values
- Location of labor pools
- Transportation issues
- Government incentives