Renew vs Relocate: How to Assess Opportunities & Risks Before Engaging the Marketplace?
Renew vs Relocate: The decision comes up every time an organization’s lease expiration date nears. While challenges and opportunities exist in either scenario, working closely with a tenant representation firm helps organizations alleviate potential pitfalls of getting stuck in a bad lease, ensuring an outcome that benefits workplace goals and a firm’s overall bottom line.
Having a representative that exclusively works with tenants, without any conflicts of interest, can have significant benefits when evaluating a relocation versus a lease renewal scenario.
Organizations from nearly every industry, large and small, are turning to tenant representation firms like CBIZ Gibraltar to better understand the costs and savings opportunities associated with their current and future lease.
Addressing the Renew vs Relocate Debate — Needs Assessment & Strategy Development:
Whether you are considering a renewal, expansion, contraction, relocation or consolidation, our experienced team will walk you through every step of the process.
Considering all critical factors — from employee headcount, hybrid policy, space utilization and layout preferences, organizational business growth (or contraction), and other relevant needs — CBIZ Gibraltar will conduct a thorough evaluation of an organization’s needs and develop a strategic solution that best suits a company’s real estate and workplace goals. By exploring the various alternative deal structures, our team will assess the opportunities and risks for the tenant in both, a renewal or a relocation scenario.
Whether tenants seek to acquire additional square footage or consolidate their existing space, our teams assist in evaluating and identifying all facets of the real estate process so our clients can make sound business decisions.
At CBIZ Gibraltar, we are constantly developing innovative and strategic ways to better our results for our clients. With the ever-changing market around us, tenants need a proactive approach to negotiating, evaluating, and managing their real estate needs so they can put their focus on their business goals and objectives.