Landlord and Tenant Representation
Services for Landlords include:
- Comprehensive Marketing Strategy
- Lease Negotiation
- Guidance on Portfolio Management
- Property Management
Services for Tenants include:
- Assessment of Space Needs
- Site Selection
- Lease Negotiation
- Guidance on Growth/Expansion Strategy
Coverage Areas: For commercial leasing, our focus is on the Central Business District in and around Boston (including Back Bay, Financial District, Downtown Crossing, Seaport, Cambridge and Somerville). We will work with select landlords and tenants in surrounding areas.
Buying vs. Leasing
“Should I buy office space rather than lease?”
In our experience, this question is not asked frequently enough in the Boston area. Certainly, purchasing space does not make sense for all business owners, but it is prudent to consider all options. We do our best to help business owners consider the benefits and risks of buying.
Reasons why businesses should consider purchasing retail space:
- Favorable financing terms - In the current market, business owners can take advantage of SBA loans (requiring as little as 10% down) and low interest rates.
- Benefit from Property Appreciation
- Avoid Rent Increases
- Able to Recognize Value of Improvement Costs - When leasing, improvements generally stay with the property at the end of the lease and typically increases the value of the property for the landlord.
Of course, purchasing is not right for all businesses.
Reasons why it might be better to lease:
- Less capital required up-front - The up-front costs for a lease are generally lower than what is needed to purchase. If a business does not have enough cash (or equity) on hand to purchase a property, leasing may be the better option.
- Flexibility needed for growth/contraction - Purchasing a property is a big commitment. New businesses and businesses in the midst of rapid growth or contraction may not be ready for that commitment.
- Lack of Options - There are more opportunities in Boston to lease than to buy. For some businesses, the best options may not be available for purchase, but office users should have more flexibility on location than retailers.