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How do developers choose a leasing firm for a project?

On Behalf of | Oct 23, 2019 | Development |

Finding the right tenants for a project is not always an easy task. For this reason, many Orange County developers choose to work with a leasing firm to help. Finding the right company could make the difference when it comes to signing up quality tenants both during and after the construction process.

It is important to find a leasing firm that knows the development’s market and property. Strategies often vary depending on whether the project is office, retail or industrial space. It might make more sense to enlist the aid of a company who has at least one person with specialized experience in a particular market and with a particular type of property. The ability to work with one company with a variety of experience often makes it easier for the property owner.

Some companies have better reputations than others do. Finding a company with a mostly satisfied client base only makes sense. It would be counterproductive to hire a leasing firm without first ascertaining whether it has earned the respect of others in the same business and of clients. Another issue is making sure no conflicts of interest could arise due to the representation of competitors. Working with competitors does not necessarily exclude a company, but it is something to address.

As a leasing firm brings in potential tenants, Orange County developers need to then negotiate commercial leases. Relying on boiler plate documents could put the future of a project in jeopardy since the needs of each project and the demands of each tenant are unique. This part of the process is often best handed off to an attorney with the requisite experience in this area.