forth on terms may happen, and that’s fine. You’re not at a point where you need to settle quite yet.
Keep in Mind You Could Get Beat Out During This Stage
This does raise the possibility of another tenant coming in and submitting a bid before the landlord gets back to you. Leave it to the building owner or landlord to compete for your business. It is incumbent on them to prove how they can help you, as the tenant, through square footage options, rates, lease terms, moving allowances, and other essential factors but that doesn’t mean that other tenants aren’t further ahead in their process than landlords are of yours. The thing in your favor here is that if they seriously respond to you and put effort into it, chances are someone is not about to send them a letter of intent and lease with them. If they don’t respond to your RFP that is probably the case, however. Many landlords are happy to take the “bird in the hand,” as opposed to waiting for the best tenant. Opening up negotiations for a commercial lease is often challenging. No building, landlord, or need is the same. Use your broker here to walk you through creating your RFP. Forgetting to include a few details or term questions could be fatal to your deal. Imagine not learning there was little parking until it was too late. I see things like this often. Use this part of the process to your advantage and get landlords or ownership groups to explain to you why they are the best fit. After this part, you probably won’t have that luxury and will enter negotiations with your preferred landlord. This is a time where you hold all the chips. Use it well.
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