This book is written to de-mystify the commercial leasing process for
the commercial tenant. Today the Internet offers commercial tenants
access to multiple data bases of commercial space for lease, more
and more of which is offered directly from the owners of the property.
Many of these owners have a strong background in real estate which
most commercial tenant's lack. I’ve observed that many times when a
prospective tenant finds space on their own they simply do not know
how to go about leasing the space and must rely upon the owner or
the owner’s broker to get them through the process. Sometimes this
works, but because of the inherent tensions between landlord and
tenant in a negotiation the transactions often fail. This guide will help
equalize that situation and show you what to do and how to proceed
when you want to find an office, industrial or retail space to lease on
your own.
Whether you are leasing commercial property on your own or using
the services of a broker, this book will serve you well because
leasing is a very different kind of real estate transaction. In most real
estate transactions some form of binding agreement is made early in
the process, such as in the purchase of property. A buyer tenders
an offer in writing with a purchase contract and deposit receipt to
seller. The seller either accepts the offer or counter offers go back
and forth until there is acceptance. When the terms of this binding
contract have been met the property transfers to the buyer. While
this some times happens in leasing, most often, a series of non-
binding proposals go back and forth outlining general business
terms and at the end of the leasing process a rather lengthy contract
is produced. This contract, when executed, defines the ongoing
rights and obligations of the parties to each other for a period of
time. During the time the contract is being negotiated, reviewed by
legal counsel and finally completed, there is much to do and much
that can go wrong.
This book will take you through the steps involved in the leasing
process; teach you about the most important business points in a
lease negotiation; show you how to create winning proposals; and
give you some useful negotiation tips. I’ve also included some useful
checklists and defined the jargon for you. Leasing commercial
property on your own is not overly complex, but it does take some
knowledge and skill. Not surprisingly, the owners or their brokers will
have that knowledge and skill, however, you must level the playing
field and this book will help you do that. Lease transactions are
interesting and can be fun and creative. My hope is that with the help
of this book leasing a commercial space will be fun for you too.
About the Author
Bob McComb started his successful brokerage career in commercial
leasing in the San Francisco office market in 1985. He quickly rose
to the ranks of a top producer, representing owners of high-rise
towers and office tenants. He has been the leasing agent for the
landmark building, the Transamerica Pyramid and scores of other
buildings.
In 1991 he became a founder of a well-respected commercial real
estate company in San Francisco. As a top broker he has negotiated
hundreds of lease transactions, as an owner of a real estate
company he has reviewed hundreds more.
Bob was a regularly featured columnist for the Alameda Newspaper
Group on the subject of leasing and in the Commercial Property
Guide on the subject of negotiations. He is the co-creator of the
commercial real estate agent training program, Top Dogs, How to
Run with The Big Dogs in Commercial Real Estate.
the commercial tenant. Today the Internet offers commercial tenants
access to multiple data bases of commercial space for lease, more
and more of which is offered directly from the owners of the property.
Many of these owners have a strong background in real estate which
most commercial tenant's lack. I’ve observed that many times when a
prospective tenant finds space on their own they simply do not know
how to go about leasing the space and must rely upon the owner or
the owner’s broker to get them through the process. Sometimes this
works, but because of the inherent tensions between landlord and
tenant in a negotiation the transactions often fail. This guide will help
equalize that situation and show you what to do and how to proceed
when you want to find an office, industrial or retail space to lease on
your own.
Whether you are leasing commercial property on your own or using
the services of a broker, this book will serve you well because
leasing is a very different kind of real estate transaction. In most real
estate transactions some form of binding agreement is made early in
the process, such as in the purchase of property. A buyer tenders
an offer in writing with a purchase contract and deposit receipt to
seller. The seller either accepts the offer or counter offers go back
and forth until there is acceptance. When the terms of this binding
contract have been met the property transfers to the buyer. While
this some times happens in leasing, most often, a series of non-
binding proposals go back and forth outlining general business
terms and at the end of the leasing process a rather lengthy contract
is produced. This contract, when executed, defines the ongoing
rights and obligations of the parties to each other for a period of
time. During the time the contract is being negotiated, reviewed by
legal counsel and finally completed, there is much to do and much
that can go wrong.
This book will take you through the steps involved in the leasing
process; teach you about the most important business points in a
lease negotiation; show you how to create winning proposals; and
give you some useful negotiation tips. I’ve also included some useful
checklists and defined the jargon for you. Leasing commercial
property on your own is not overly complex, but it does take some
knowledge and skill. Not surprisingly, the owners or their brokers will
have that knowledge and skill, however, you must level the playing
field and this book will help you do that. Lease transactions are
interesting and can be fun and creative. My hope is that with the help
of this book leasing a commercial space will be fun for you too.
About the Author
Bob McComb started his successful brokerage career in commercial
leasing in the San Francisco office market in 1985. He quickly rose
to the ranks of a top producer, representing owners of high-rise
towers and office tenants. He has been the leasing agent for the
landmark building, the Transamerica Pyramid and scores of other
buildings.
In 1991 he became a founder of a well-respected commercial real
estate company in San Francisco. As a top broker he has negotiated
hundreds of lease transactions, as an owner of a real estate
company he has reviewed hundreds more.
Bob was a regularly featured columnist for the Alameda Newspaper
Group on the subject of leasing and in the Commercial Property
Guide on the subject of negotiations. He is the co-creator of the
commercial real estate agent training program, Top Dogs, How to
Run with The Big Dogs in Commercial Real Estate.
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