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Text Content

 * Home
 * Services
 * Leasing 101
 * Add On Factor
 * Contact
 * FAQ
 * Blog
 * About





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281.782.2371





info@workspacebrokers.com



WORKSPACE BROKERS



HOW WE'RE DIFFERENT

WSB, Inc. is a Commercial Real Estate Services company based in Houston that
specializes in assisting Buyers, Sellers and Tenants of Office, Warehouse, Flex,
and Retail buildings.

Whether selling, buying, renewing, expanding, relocating, or downsizing your
current facility we will make this time consuming process smoother, simpler and
less disruptive to your ongoing business, saving you time, money and effort in
the process.

WSB, Inc. will bring the experience, extensive market knowledge, creative
solutions and the latest tools to work on your behalf. Our business is serving
our client’s commercial real estate needs.

Our extensive marketing experience in selling both user and investment
properties is an invaluable tool during the process. We treat each listing
assignment as its our own asset. We will seek to determine any and all issues
with the site so that the eventual buyer understands everything there is to know
prior to entering a contract. We will provide guidance and support to the owner
with its close relationships with professional vendors that can move a
transaction forward.

Our integrated resources help tenants meet their objectives in major markets and
locations. Whether it is an expansion to accommodate growth or relocation to
another market, we analyze each tenant's business objectives and match them with
the optimal real estate solution.

WHAT WE DO

WSB, Inc. will save you time and money making the task of relocating your office
space, renegotiating your existing lease, buying, or building smoother, simpler
and less disruptive to your ongoing business. We’ll analyze your needs and
spearhead the entire process from market research through negotiation,
construction and move-in, providing you with the critical information and
alternatives that will enable you to make the optimal real estate decisions.

We provide Commercial Real Estate Services by providing insightful and
professional advisement on matters of office, industrial and retail properties.
We help our clients’ businesses succeed by empowering them to make real estate
decisions that will help their businesses grow and protect the bottom line. We
identify and execute solutions to the diverse needs of our clients.

We pledge that our level of service will be driven by client satisfaction, not
the size of the transaction. We aim to develop a long term relationship with
every client, providing advice and support long after a transaction has been
completed.

We know our markets and the political, economic, social, and environmental
factors that shape it. We are committed to being responsive to the needs of
different business cultures in our market by adapting strategies to better serve
the needs of our client without compromising our company values. Our measure of
success is based on customer satisfaction and quality of service, placing
honesty and integrity above prosperity. This means that we will do the right
thing, legally, ethically, and morally, with the highest sense of urgency.

SERVICES PROVIDED

 * Needs Analysis – We’ll help determine exactly how much space you actually
   need now and for the future, how it should be configured and any special
   needs in areas such as electrical, LAN, HVAC or finishes.

 * Critical Timeline Development – Key decision dates to keep the process moving
   and avoid getting caught in a time crunch at the end where mistakes can be
   costly. 

 * Market Research – Using our computerized property database we will seek out
   every available space that meets your physical and locational needs and give
   you the comparative information necessary to narrow your selection. 

 * RFP Development and Proposal Acquisition – Our Request For Proposal will
   accurately address all of your requirements and preferences. This will enable
   us, once the proposals are received, to quickly narrow our selection of
   properties. 

 * Comprehensive Financial Analysis of Proposals – Our state of the art
   financial analysis will not only provide a clear comparison of financial
   terms, it will also assist in suggesting creative counter-proposals and
   provide a budgeting schedule for the entire lease term. 

 * Lease Negotiations – Our deep experience in this area enables us to develop
   creative solutions in order to best meet your requirements and concerns. 

 * Construction Monitoring – Our extensive experience in this area will insure
   that the construction process will be smooth, on time and in budget. 

 * Move-in Coordination – Through our strategic alliances with related services
   providers we can assist you in every detail of the frustrating process of
   moving.

 * Ongoing Lease Monitoring – We’ll keep you aware of critical option dates,
   analyze billing statements from the landlord and monitor your changing need.





SERVICES

Every client has unique circumstances and needs, and our solutions are
tailor-made for any situation we encounter. From start-ups in the initial stages
of opening a business, to mature organizations with multi-state real estate
portfolios, we have seen it all. Our approach and services offered can be
adapted to meet any client’s needs. Read more below about the best-in-class
services we offer clients each day.

Most commercial landlords are sophisticated business owners that understand and
fully utilize the services of professional representation. We strongly believe
the tenant needs and deserves the highest level of representation possible in
any commercial real estate transaction. We provide our clients with that service
on a daily basis, and have been for over 20 years.

OFFICE & INDUSTRIAL TENANT REPRESENTATION

 * Customized Market Survey Review
 * Leasing Negotiations
   
 * Lease Comparison Analysis     - Effective Rental Rates     - Cash Flow
   Analysis
 * Strategy Development & Implementation
 * Lease vs. Buy Analysis
 * Sublease Services
 * Operating Expense Management
 * Corporate Portfolio Management
 * Lease Review & Administration

BUYER REPRESENTATION

Whether you are in the market for a commercial user building or a commercial
investment property we are here to assist through the acquisition process and
beyond.

 * Customized Market Survey Review
 * Acquisition Negotiations
 * Strategy Development & Implementation
 * Lease vs. Buy Analysis
 * Financial Analysis
 * Corporate Portfolio Management
 * Government & Economic Incentives
   








LEASING 101

Ways to create flexibility in your lease agreement:




Options for flexibility for increases in head count and space needs: In order to
provide flexibility for more space based on growth, without having to pay for
the space until it is needed, a corporate tenant should write these options into
their lease:


 * Hold Options: In this type of option, the landlord keeps space off the market
   for a certain period of time to give the tenant an ability to take the Hold
   Option space at a later date if needed.
 * “Must take” Options: This option is a fixed expansion right at a
   predetermined rate and date during the lease term.
 * Right of First Offer: With this right, if any space or a predefined space
   becomes available in the building the landlord is obligated to present it to
   the tenant before marketing it available to the market.
 * First Right of Refusal: This typical provision obligates a landlord to
   present to the tenant any deal that they are willing to sign with a third
   party tenant for a predefined space. If there is interest from the tenant
   with the expansion option, the tenant may elect to match the deal and preempt
   the transition with a third party tenant.
   In some building options these expansion rights for specific space have
   already been granted to existing tenants of the project, but is also
   appropriate in these instances to negotiate subordinate rights to another
   tenant in the event the option is declined, expires, or the first right
   holder should vacate the building.
   

POTENTIAL DECREASE IN HEADCOUNT OPTIONS:



To provide flexibility for a decrease in need of space.


 * Right to Assignment and Sublease: For many different reasons you as a leader
   may need to vacate your space with time left on the lease. This may be due to
   growth and your need to move to new space, it could be because of a downturn
   and a reduction in your workforce, or it could be due to a merger/acquisition
   and a subsequent consolidation into another space. For this reason it is
   critical to structure a flexible assignment and sublet provision in your
   lease.
 * Termination and Contraction Options: Gives you the right to terminate your
   lease at a specific date during your lease prior to the end of the lease.
   This would require a notice to the landlord in advance of termination (6
   months is typical). There is penalty which is normally assessed to the tenant
   in the form of unamortized leasing costs and a portion of the remaining rent.
   Finally, you will always want to have a strong Renewal Option or Right to
   Extend. This gives you the right to extend the lease beyond the current term.
   This is key as there are big bucks associated with moving. There will
   potentially be really good options to consider when that time comes that may
   be an upgrade or more economical or both. However you want to control those
   terms and don’t want to be kicked to the curb because the landlord found a
   better date to the dance. A great and favorable renewal option is key.
   



ADD ON FACTOR: WHY OFFICE TENANTS PAY FOR SPACE THEY DON'T USE



RENTABLE AND USABLE OFFICE SPACE



When leasing office space in a multi tenant office building it is important to
understand the difference between rentable and usable square feet. Some office
tenants are not familiar with these terms, and it can cause confusion when
touring spaces across a number of properties. Essentially as an office tenant
you are paying rent based on the “rentable” size of your space, which has been
inflated to account for common areas in the building.
Recently I worked with a client in the Energy Corridor in Houston looking for
new office space. He expressed strong interest in a property which had recently
converted from a single tenant corporate use to a multi-tenant layout. Since the
conversion was not yet complete the floor plates and common areas were under
construction and not fully determined. As a result the leasing agent was not
able to advise the true add on factor at the time we toured the property.


WHAT IS AN ADD ON FACTOR?



As a quick refresher, the add on factor (sometimes referred to as core factor)
is the amount of a commercial building taken up by common areas such as
hallways, bathrooms, elevators, the lobby, etc. A typical add on factor will
usually fall between 15-20%. This means the usable square footage of a company’s
office space will be inflated by 15-20% to account for the common area space in
the office building.
Companies leasing space in a multi-tenant office building must always be aware
of the add on factor used in their building. It is important to ensure the
rentable square footage for your lease agreement is calculated correctly. When
considering a relocation make sure to check these numbers ahead of time to
ensure a market factor is being used. This will help avoid paying for space you
don’t use and likely will never see.




HOW TO LEVERAGE YOUR LANDLORD



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Phone: 281.782.2371

Workspace Brokers © 2018

Email: roy@workspacebrokers.com



2245 Texas Drive Ste.300
Sugarland, TX 77479