Office Leasing Guide WHAT YOU NEED TO KNOW BEFORE YOU SIGN Collies Intenational Office Leasing Guide P. 1
THE OFFICE LEASING GUIDE This step-by-step guide has been assembled to eflect Collies Intenational s knowledge of the leasing pocess. You ll find infomation on tenant impovements, common pitfalls, timelines and fequently asked questions. The knowledge in this handbook will help you make a majo business tansition with minimum disuption. P. 2 Office Leasing Guide Collies Intenational
Contents > 4 ALLOW US TO INTRODUCE OURSELVES About Collies Intenational > 5 GETTING STARTED Making educated decisions about you business space > 6 TOP 10 TENANT MISTAKES Avoid these common blundes in you leasing pocess > 7 THE OFFICE LEASING PROCESS Fou steps to business poductivity > 8 DETERMINE YOUR PROPERTY NEEDS Take you equiement fom notion to motion > 10 EVALUATE MARKET ALTERNATIVES Inspect and compae you options > 12 COMMIT TO PREMISES Completing o vaying you lease documentation; commencing the full design pocess > 13 DESIGN AND PROJECT MANAGEMENT Ceate the space to meet you visito > 14 TRANSLATING THE LINGO Glossay of tems and fequently asked questions > 19 RELOCATION CHECKLIST You step-by-step guide Collies Intenational Office Leasing Guide P. 3
Allow Us to Intoduce Ouselves ABOUT COLLIERS INTERNATIONAL WHO IS COLLIERS INTERNATIONAL? We ae an awad-winning team of office leasing pofessionals with intimate knowledge of the local, egional and global leasing makets. We bing an in-depth undestanding of business needs and the leasing pocess. We ae committed to ceating a business solution that meets you oganization s needs now, and in the futue. You office space is moe than just an addess; it is whee you make business objectives a eality. Collies Intenational pofessionals ae equipped with the skills, knowledge and tools to intelligently assess you space equiements. We ensue that you leasing decision whethe to stay o elocate is infomed by both you business needs and a thoough maket evaluation. Collies Intenational s cultue of knowledge-shaing gives you access to expets in eal estate management sevices, poject management, appaisal and valuation, and capital makets. WHY ENGAGE OUR SERVICES? Woking with Collies pofessionals saves you the time and confusion of dealing with multiple agents, landlods o consultants. Ou compehensive database contains infomation on evey office listing, agent and landlod, poviding exhaustive data about evey oppotunity that fits you equiements. Ou maket knowledge povides fowad-looking analysis to help you take advantage of tends, and we offe a single point of accountability fo you poject to connect all of the specialists available to seve you. We ae committed to acceleating you success. P. 4 Office Leasing Guide Collies Intenational
Getting Stated MAKING EDUCATED DECISIONS ABOUT YOUR BUSINESS SPACE WHAT ARE MY OPTIONS? Stay put If you cuent space satisfies you business needs, but you ae appoaching the end of you lease, conside enewing you lease. We can help you ensue the space is available, and negotiate a new lease with the building owne. Relocate The expiation of you lease offes you an oppotunity to tansfom you business and ceate new efficiencies by elocating. WHY SHOULD I RELOCATE? Business Needs If you cuent space is too small, too lage, o inflexible, a new office can enegize you oganization and act as a spingboad fo impoved poductivity and opeational cost savings. Additionally, maket conditions may suppot the business case fo elocation. Band Value Enhancement The quality of you building and the tenant impovements in you office space speak volumes about you oganization. A new building can stengthen you employees peception of you coe values and elevate you band in the minds of customes and othe stakeholdes. Employee Retention With an impoved wok space, you will boost staff moale and poductivity. Ou maket eseach shows that even subtle changes in the wok envionment ceate substantial gains in poductivity, esulting in impoved bottom-line financial pefomance. HOW MUCH WILL IT COST? Opeational Costs The negotiation of ent and tenant incentives depends on the dynamics of you local maket. In makets whee ove development o economic conditions have ceated highe vacancy, this favos tenants. In othe makets, low vacancy gives landlods the uppe hand in negotiations. Contact you Collies pofessional fo the maket tends in you location. Tenant Impovement and Make Good Costs You enty and exit stategy to a lease can geatly affect the eal cost of you commitment. Wokplace design and tenant impovement costs should be viewed as an oganizational oppotunity a well-planned and executed office will adapt to you oganization s gowth and changing needs and minimize chun costs. Balancing you tenant impovement costs and thei benefit to you oganization is citical. In addition, make good commitments will affect you cash flow when exiting a lease. These costs ae coveed in moe detail late. WHEN SHOULD I START? Plan, Plan, Plan Whethe you decide to stay o go, knowledge is key. Undestand you cuent situation, eview othe options, assess the maketplace context and negotiate with you cuent landlod to optimize the end esult. The peiod equied to conduct a lease negotiation and elocate is thee to six months at a minimum. Depending on the size of you oganization and cuent maket conditions, you should begin this pocess 18 to 24 months pio to you lease expiation. It can take two yeas o moe to complete the lease and elocation pocess fo lage o complex assignments. WHOM SHOULD I INVOLVE? You intenal steeing committee should be led by a senio employee, and suppoted by decision-makes and influences including human esouces, IT, divisional heads and staff. A single point of contact fom you oganization, matched with a single point of contact at Collies Intenational, is ideal to make the pocess un smoothly. You may wish to conduct a suvey of you staff to detemine thei needs, pefeed wok space amenities and location. Collies can suvey you staff to detemine the impact of elocation on commute times and employee etention. Pofessional eal estate advice is a citical pat of the poject team. This will am you with insight into the maketplace, you altenative options and the financial implications of the stay o go scenaios. A skilled wokplace stategist and design pofessional will complete the team by poviding knowledge of poductivity-enhancing tenant impovements. Collies Intenational Office Leasing Guide P. 5
Top 10 MOST COMMON MISTAKES MADE BY TENANTS > 1 Beginning the negotiation of a enewal o new lease too late > 5 Making inaccuate estimations of the company s space equiements > 8 Ageeing to tems pio to obtaining a space planning pespective > 2 Lacking clealy defined business o eal estate objectives > 3 Focusing exclusively on financial costs > 4 Failing to appoint a poject leade as the intenal single point of contact > 6 Failing to leave enough time at the end of the lease to fulfill make good obligations > 7 Acting too slowly once a decision is made, and consequently missing out on oppotunities > 9 Failing to allow fo expansion space > 10 Lacking the knowledge of futue oppotunities; often, the best deals ae secued well in advance of space becoming available P. 6 Office Leasing Guide Collies Intenational
The Office Leasing Pocess THREE STEPS TO BUSINESS PRODUCTIVITY STEP TWO: Relocate Confim eal estate equiement evaluation Bief pefeed lessos Confim development sites/existing building options and assess via inspections Begin offe/counte-offe pocess STEP ONE Choose Shot-list options, wok with design consultant to evaluate space plan Fact Finding Undestand you business needs Detemine you popety needs Identify decision makes and confim citical time path Conduct equiement evaluation Poduce eal estate bief Evaluate maket altenatives: Relocate o enew STEP TWO: Renew Confim existing pemises as most desiable oppotunity Bief existing lesso Confim eal estate equiement evaluation STEP THREE Commit to new (o existing) pemises Complete new (o vaiation of) lease documentation Complete tenant impovement design and poject management Wok with design consultant to evaluate space efficiency Begin offe/counte-offe pocess Collies Intenational Office Leasing Guide P. 7
Step One DETERMINE YOUR PROPERTY NEEDS TAKE YOUR REQUIREMENT FROM NOTION TO MOTION Skipping the planning stage tigges a numbe of the Top 10 mistakes most commonly made by office tenants. It is cucial to undestand you popety equiements though the pocess of evaluation and foecasting. DETERMINE FUTURE NEEDS Commecial leasing decisions should conside medium- to long-ange business goals fo leases unning thee yeas o moe. Guided by pofessional wokplace stategists and space plannes, the pocess of constucting a eal estate bief to achieve you business objectives will conside questions including: Is you business gowing o shinking? What ae you band values? What ae you pefeed wok settings? What types of employees will you have in the futue? What will you technology equiements be in thee yeas? Ae you consideing acquiing o meging with othe fims? What effect will moving have on you customes and staff? By woking though this concept planning phase, you will achieve the maximum benefit both financial and stategic in the elocation o econfiguation of you office space. If the wokplace design happens solely duing the design and constuction phase, only minimal gains ae possible. INVOLVE KEY INTERNAL DECISION-MAKERS Assemble a team with the beadth of skills to dive the poject. Involve you expets in infomation technology, human esouces and finance. They will be familia with specific futue tends that may influence you equiements and decisions. Thei involvement fom the outset will help claify and focus you bief and achieve intenal buy-in. Be sue to appoint a poject leade to connect with you intenal stakeholdes as well as with you boke and consultants. P. 8 Office Leasing Guide Collies Intenational
CREATE A REAL ESTATE BRIEF The biefing pocess begins with the documentation of you wokplace equiements. Gowth pojections Office space size Space configuation Oganizational vision Cost paametes Timing A well-pepaed eal estate bief will synthesise these elements and tanslate them into you popety equiements. The bief will expedite you decisionmaking pocess. You will save consideable time by inspecting and eviewing only suitable popeties. You bief also ceates a famewok to evaluate and compae you options. An impotant element in developing this bief is to audit you existing pemises ceating a clea undestanding of what s woking, and what s not. WHAT SHOULD BE IN YOUR BRIEF? You eal estate bief should conside a wide ange of citeia: Size of space Tenant impovement needs Numbe of employees (maximum and minimum) Image/quality/aesthetics Location Paking Building sevices Office hous Secuity and access Lease stuctue pefeences Technical equiements Timing Communications infastuctue Budget Envionmental consideations Othe unique needs Signage/naming ights Tem/enewals Conside anking each facto in tems of impotance, as you may have to compomise on some items, depending on the options available. You can also assign a point value to each facto, with moe points possible fo the factos with geate impotance. You Collies pofessional can help guide you though this evaluation pocess. KNOW YOUR LOCAL MARKET AND COMMITMENTS Duing this phase, you should familiaize youself with local office maket conditions and existing lease commitments. By knowing the maket vacancy ates, supply pojections, cuent ental ates and tenant incentives, you will be in a bette position to evaluate vaious poposals. You Collies Intenational leasing pofessional can povide you with an office maket pesentation that descibes these factos, both in you local maket and in the specific submakets you identify as most desiable. Collies Intenational Office Leasing Guide P. 9
Step Two EVALUATE MARKET ALTERNATIVES. INSPECT AND EVALUATE YOUR OPTIONS. RELEASE YOUR BRIEF TO THE MARKET To avoid dealing with multiple agents, you can equest that you Collies pofessional appoach the maket on you behalf. With an intimate knowledge of the maket and a well-established netwok of agents and ownes, Collies will act as a single point of contact to uncove all suitable space oppotunities. You eal estate boke will also assist in discussions with you existing landlod egading lease enewal options. EVALUATE AND PREPARE A SHORT LIST When analyzing altenative pemises, conside timing, financial and othe incentives that may be offeed. A lease enewal option should include expansion and contaction costs, as well as the cost of econfiguing o completely efubishing you wok space. Aim fo a shot list of thee o fou popeties. Evaluate options against you bief, ensuing the popety s benefits match you stated business objectives. Collies has developed a ange of decisionmaking models and matices. These tools damatically impove efficiency in the evaluation pocess. FINANCIAL ANALYSIS Thee ae seveal ways to compae the financial aspects of leasing, including: Goss effective ent pe squae foot Goss stated ent pe squae foot Goss and net ent pe squae foot Total occupancy cost pe employee Futhe detail on these measuements is povided in the Fequently Asked Questions potion of this guide. Look beyond the squae foot ate offeed. Some office space is highly efficient, enabling you to accommodate you employees in less space. Fo example, you may equie 5,000 squae feet to accommodate you staff in one building while anothe may be able to house them comfotably in 4,000 squae feet. In this instance, it does not make sense to compae the two options based on P. 10 Office Leasing Guide Collies Intenational
It is now a fundamental equiement that the office achitectue suppots the intellectual wok demanded of employees and facilitates you oganization s continuous impovement stategies. thei ate pe squae foot. It is moe effective to use a cost pe employee lease analysis model. Lease conditions such as make good equiements can also impact on the attactiveness of a paticula option. (Fo moe infomation on make good costs, please efe to page 14.) COMPARE YOUR OPTIONS USING A LEASE ANALYSIS MODEL Collies Intenational has developed a lease analysis model designed to compae leasing options on a financial basis, using an apples to apples appoach. The model allows the compaison of poposals fom multiple lessos, demonstating the cost of the financial offe ove the life of the lease. This financial modeling takes into account lease incentives, such as fee ent o a geate allowance fo tenant impovements, the total ent ove the life of the lease including ent hikes, and the tem of the lease including extension povisions. WORKPLACE DESIGN AND TENANT IMPROVEMENTS It s not all about cost. When evaluating you popety options, don t foget to conside the intangible costs and benefits fo each popety option. You wokplace designe can help you evaluate each option s impact on staff poductivity and communication, copoate identity, infomation technology, communications pefomance and you custome base. If appopiately engaged at step one, you wokplace designe will have the maximum positive influence on you wokplace bief. In today s challenging business envionment, it is citical that oganizations look beyond the taditional view of office accommodation and the measuement standads nomally applied. You wok space must also contibute to the development of team netwoks and oganizational leaning systems. In addition, the office systems must suppot oganizational change efficiently, and with minimal edundancy. DETERMINE WORK SPACE EFFICIENCIES By conducting a design site audit of the shot-listed options, you wokplace designe will detemine the wok space efficiencies fo each popety. This pocess also poduces sample tenant impovement designs pio to you ageement on tems enabling you to compae you options based on financial and non-financial citeia. You wokplace designe will povide the following sevices duing this citical evaluation phase: Pepae a detailed existing tenant impovement audit Assess items suitable fo e-use in the impoved office space Manage the pe-design pocess including a eview of local authoity appovals and code equiements Pepae selected site audits Pepae a stacking and blocking plan Pepae peliminay concept designs Conduct building sevices audits Povide an opinion of likely tenant impovement costs TENANT IMPROVEMENT COSTS Attaining a tenant impovement that is aligned with you oganization s ideal outcome depends on which components ae viewed as necessay and what is discaded duing the design phase. It is citical that all aspects to be included in the tenant impovement ae assessed to detemine thei contibution to the oveall objectives. Equally impotant is the identification and evaluation of the potential components that ae excluded. The identification of positive and negative components though the audit pocess povides the oppotunity to maximize the effectiveness of the final esult and minimize the cost of the tenant impovement. Collies Intenational Office Leasing Guide P. 11
Step Thee COMMIT TO PREMISES Completing o vaying you lease documentation; commencing the full design pocess LETTER OF INTENT Once the paticulas of a lease ageement ae negotiated, both paties will sign a lette of intent. This document is geneally not legally binding but is a gestue of good faith that tems have been ageed. When signed, this document will be used to bief attoneys so that the final lease documents can be pepaed. WORKPLACE DESIGN ISSUES When a lease ageement is complete, the wokplace tenant impovement pocess begins immediately. At this stage, you should have completed: Needs analysis Space plan Test fit This will enable you to engage a designe, who may be the wokplace designe, with accuate infomation egading you equiements. The soone a designe is engaged, the bette the outcome. It is vital that this stage is viewed as an investment in the oganization s futue and not meely a tenant impovement. The development of wok space should be diectly linked with you oganizational stategy. P. 12 Office Leasing Guide Collies Intenational
Step Fou DESIGN AND PROJECT MANAGEMENT The final stage of the pocess povides the pefect oppotunity to e-think office impeatives and pomote oganizational effectiveness, community, communication and poductivity. DESIGN DEVELOPMENT AND CONSTRUCTION APPROVAL Engagement and full biefing of all othe specialists and consultants Commencement of detailed design Development of finishes selection Shot list of funitue options Review of likely tenant impovement costs Detailed constuction timeline pepaation Documentation fo building owne and authoities Stakeholde coodination DETAILED DESIGN AND DOCUMENTATION PHASE Pepaation of documentation fo a constuction bid Finalize funitue selection Finalize the selection of tenant impovement finishes Obtain building and constuction pemitting BID REVIEW PHASE Detemine ageed bid eview panel Review and assess bid esponses Bid management and analysis CONTRACT ADMINISTRATION Manage the delivey pocess and administe contacts Appoint all appoved contactos and supplies including head tenant impovement contacto Coodination of all equied meetings Coodination of quality contol inspections Cost and vaiation management Poject manage delivey pogam Poject completion/occupation Ovesee pactical completion Timely issue of the Code of Compliance cetificate Inspection and sign-off Manage the identification and completion of all outstanding and defective woks Cost epoting and final accounts As-built dawings, opeating manuals, guaantees and waanties Final inspection and completion of woks at the end of the defects liability peiod Collies Intenational Office Leasing Guide P. 13
Tanslating the Lingo GLOSSARY OF TERMS BUILDING CONSENT Appoval fom the elevant authoities fo caying out building wok on the pemises, usually fo tenant impovements. CAP AND COLLAR A tem and method used in some maket eview clauses. It is a mechanism that puts a cap o maximum amount by which the ent can be inceased, o a colla, the maximum the ent can decease, on the ental ate eview date. As the office leasing makets stengthen, these eview methods ae moe difficult to negotiate. GROSS EFFECTIVE RENT The ent payable unde the lease accounting fo all incentives and including all building expenses. GROSS FACE RENT The ent payable unde the lease excluding any incentives but including all building expenses. INCENTIVE An inducement offeed by the landlod to attact tenants to the building. This can be offeed in a vaiety of ways, such as though a peiod of fee ent, povision of a tenant impovement allowance, o moving assistance. LESSEE That legal entity, company o peson whose name appeas as the occupie o use of space on the fomal lease document, binding the lessee to the tems and conditions stated theein. Also known as the tenant. LESSOR The paty whose name appeas as lesso on the fomal lease document. The lesso is the landlod o owne of the popety. LEASABLE AREA Net Leasable Aea (NLA) NLA (measued in squae feet) is the floo space contained within each tenancy between the intenal finished sufaces of pemanent intenal walls and the intenal finished sufaces of dominant potions of the pemanent oute building walls. It geneally includes window fames and stuctual columns, toilets, kitchens, cupboads and excludes plant/moto ooms. It excludes aeas dedicated as public spaces o thooughfaes such as building sevice aeas. Goss Leasable Aea (GLA) GLA (measued in squae feet) is the floo space contained within each tenancy at each floo level by measuing fom the dominant potion of the outside faces of walls, to the cente line of the intenal common aea o inte-tenancy walls. MAKE GOOD The lessee s obligation to etun the pemises to thei oiginal condition pio to expiation of the lease. NET, GROSS RENT Net ent is also efeed to as Tiple Net o NNN. It is the ental ate excluding net taxes, insuance and maintenance. Goss ent includes these expenses. Most leases ae based on net ents plus each tenant s popotionate shae of building expenses. OCCUPANCY RATIOS A common atio used to measue the tenant efficiency of individual building s floo plates. This atio is calculated by dividing the total net leasable aea by the numbe of people who occupy a floo. Aveage occupancy atios vay between 1:12 and 1:18 squae feet pe peson. RATCHET CLAUSE A atchet clause is the mechanism by which the ent cannot decease on eview. Thee ae vaiations of atchet clause ( full o had atchet and soft atchet). Unde a soft atchet, the ent can not fall below the commencement ental. Unde a full atchet, it can not fall below the cuent ental. RENT REVIEW The method by which you ent can vay duing the tem of the lease. This can be a maket ate eview, a pedetemined figue (such as 3 pecent) o a ate fixed to an index such as the CPI. The eview stuctue is ageed pio to lease commencement. RESOURCE CONSENT Appoval fom the local govening authoity with egad to zoning o changes in the pemitted use of the pemises. P. 14 Office Leasing Guide Collies Intenational
RIGHT OF RENEWAL The lessee s ight to enew a lease fo an ageed peiod of time pio to expiation of the initial lease. SECONDARY EXPENSES All othe costs beside ent associated with insuance, opeation, upkeep and/o maintenance of the building, including ai conditioning, elevato maintenance, common aea cleaning, secuity and electicity. STATUTORY EXPENSES Statutoy expenses include costs such as municipal ates, wate and sewe ates and usage chages. SUBLEASE/ASSIGNMENT The mechanism unde the povisions of the lease allowing the lessee to find a suitable eplacement tenant. This is subject to lesso appoval and unless specifically stated, does not limit you legal esponsibilities duing the tem of the lease. Collies Intenational Office Leasing Guide P. 15
P. 16 Office Leasing Guide Collies Intenational
Fequently Asked Questions HOW CAN I NEGOTIATE THE BEST DEAL? By caefully selecting the ight popeties on you shot list, you can ceate a competitive envionment to achieve the most favoable lease ageement. You Collies Intenational boke can assist you thoughout this pocess. HOW MUCH SPACE WILL I NEED? The amount of space you equie will vay depending on the natue of you business and the efficient use of space you select. As a ule you will equie oughly 12 to 18 squae feet of space pe employee. ARE AMENITIES INCLUDED IN THE NET LEASABLE AREA? Yes, assuming you occupy a whole floo. The amenities within the floo, such as estooms and kitchens, ae incopoated within the net leasable aea measued. WHAT ARE MY TOTAL REAL ESTATE COSTS? In addition to you net ental ate, you may also pay fo opeating costs such as insuance, building and gounds maintenance, taxes, common aea maintenance and cleaning, utilities and othe expenses incued by the landlod. WHAT ARE THE DIFFERENCES BETWEEN GROSS RENT, NET RENT, EFFECTIVE RENT AND FACE RENT? GROSS RENT is the ent calculated inclusive of all building costs, wheeas NET RENT is the ent calculated excluding building costs. FACE RENT is the quoted ental ate befoe taking into account incentives o inceases, wheeas EFFECTIVE RENT is the ental ate aveaged out ove the tem of the lease, including consideation of ent-fee peiods o up-font incentives. WILL I BE ABLE TO SUBLEASE OR ASSIGN MY LEASE? Most commecial leases allow the lessee to sublease o assign thei pemises. Typically, the lesso is unable to uneasonably withhold consent to the sublease/assignment. A pudent lesso will conside the stength of the contact being offeed by the incoming tenant and will be eluctant to accept a sublease/assignment if it could potentially compomise thei financial position o secuity. WHAT ADDITIONAL COSTS AM I RESPONSIBLE FOR OVER AND ABOVE NET RENT AND OPERATING EXPENSES? In addition to a po-ata shae of building opeating expenses, you will geneally be esponsible fo electicity and othe utility chages, light bulb eplacement and cleaning you own pemises. WHAT ARE THE RENT REVIEW PATTERNS FOR THE TERM AS WELL AS THE RENEWAL PERIOD? Most lessos have a standadized lease document fo thei buildings, including a peaanged ental eview schedule in light of the lesso s own objectives and cuent maket conditions. Typically, the two most significant influencing factos on ent eview pattens ae lease tem and the commencing ental. Rent eview methods may include fixed inceases, stuctued inceases o eviews to maket levels (with o without a atchet clause). A atchet clause ensues that the eviewed ental can be no less than eithe the pevious yea s ental o commencement ental. The Consume Pice Index (CPI), o a magin ove CPI, is anothe common stuctue. Often, eview clauses include a combination of these duing the tem of a lease. Lessees will typically equest a ight of enewal as pat of the lease negotiation, allowing them to extend thei occupation beyond the initial lease tem. It is nomal to set out the ent eview patten fo this tem in the oiginal lease document. WHAT IS A MAKE GOOD AND HOW MUCH WILL IT COST? A Make Good is you (the lessee s) obligation to etun the pemises to its oiginal state upon completion of you lease, usually excepting fai wea and tea of floo coveings If you ae elocating, you wokplace designe will usually be able to conduct the make good on you pevious pemises as well as design and tenant impovement you new pemises. Collies Intenational Office Leasing Guide P. 17
WHEN DOES THE AGREEMENT BECOME LEGALLY BINDING? Duing a typical lease negotiation, leasing poposals ae used as a medium to detemine tems and conditions acceptable to both lesso and lessee. This will lead to a Lette of Intent document o Memoandum of Undestanding outlining the final position of both paties. It is accompanied by a leasing deposit, geneally equivalent to two months goss ent as a secuity deposit. This deposit is typically held in the leasing agent s tust account to be passed ove when the lease becomes unconditional. At this stage, the ageement may be conditional. In some cases it may be conditional on lessee and/o lesso boad appoval, togethe with othe appoval conditions. vaious conditions ae satisfied. The Lette of Intent document povides a famewok by which the ageement becomes unconditional and both paties ae legally bound. HOW MUCH WILL MY TENANT IMPROVEMENT COST? This depends on the quality of tenant impovements you equie. Factos in the cost include the existing tenant impovements fom the pio tenant, the quality of finishes selected, infastuctue needs such as plumbing and wiing, and the complexity of the equested build-out. Typically, landlods povide a tenant impovement allowance and tenants ae expected to pay the diffeence between that allowance and the actual cost of impovements. The lessee and/o lesso may not be legally bound to commit to the pemises until the P. 18 Office Leasing Guide Collies Intenational
Relocation Checklist A STEP-BY-STEP GUIDE PRELIMINARY Finalize lease fo new location Notify pesent landlod of temination date Advise staff of date and location of move Engage designe fo new pemises Ceate a maste change-of-addess list PRE-MOVE GENERAL Reseve elevatos and loading docks fo moving day Bid and awad moving contact Bid and awad telephone and compute cabling Inventoy existing funitue Code funitue and equipment on a colocoded floo plan Audit keys Ode any new office funitue and equipment Ode new stationey File change-of-addess foms with post office and fowad mail Check you insuance coveage fo the move Obtain the Cetificate of Occupancy and any othe equied pemits o licenses Advise supplies (telephone, bottled wate, coffee sevice) of new addess Alet photocopie contacto Decide on secuity pocedues fo the move Mail moving notices Banks and financial institutions Clients and customes Pofessional oganizations Cedit accounts and cedit cads Insuance companies Accounts eceivable and payable Newspape and magazine subsciptions Telephone company and intenet sevice povide Pospects and special sevices Hold a meeting at new pemises thee weeks pio to move. Bing in all paties involved (design/constuction/move/cabling company/infomation technology specialist) to ensue all details ae coveed and all esponsibilities clea Change locks/access codes on new pemises as close to moving day as possible to secue access Schedule public elations effot, including plans fo news eleases and an office waming paty Aange fo listing on lobby diectoy of new building Aange fo post-move cleaning PRE-MOVE INTERNAL Oganize a staff moving committee if appopiate and delegate esponsibilities Schedule and pepae agenda fo you employee move oientation meeting Finalize seating plan and identify each location Pepae labels fo moving funitue and boxes to new locations Assign move supevisos in each depatment Develop a maste elocation poject schedule Schedule and implement a clean-up pogam (puge files, dispose of tash) Schedule staff fo unpacking, including stocking supply cabinets, stoeooms, file ooms, and emoving tags fom all funitue and equipment to ensue you company will be opeational as apidly as possible afte move Aange fo off-site stoage of old files Pack contents of all filing cabinets and desks, ensuing eveything is popely labeled Aange fo staff to tou new pemises a few weeks pio to move Schedule post-move taining fo secuity, fie, and life safety pocedues at the new facility Distibute access cads and keys fo new pemises MOVING DAY Aange with the building manage to have the ai conditioning on duing the move Remove compute equipment (seve) and phone system pio to aival of moves and commence einstallation at new site Daft an emegency contact list fo vendos such as elevato maintenance, building management, utilities, telecommunications and moving company POST-MOVE Install and test telephone system Distibute new phone list and map showing the locations of depatments Install and test all computes Do a detailed walk-though of the pemises and epot any damage to moving company Tansfe you insuance to the new location Obtain Cetificates of Insuance fom you insuance company Confim temination of old leases Collect paking passes, secuity cads and keys fo the old facility. Confim the etun of any deposits held by the landlod fo these items Audit final invoices against contacts Complete and file all waanty infomation fo all new funitue and equipment Update fixed asset accounting system fo any new funitue and equipment puchased Confim the change-of-addess coections made Schedule pess elease and client announcement Collies Intenational Office Leasing Guide P. 19
www.collies.com Acceleating success. This document has been pepaed by Collies Intenational fo advetising and geneal infomation only. Collies Intenational makes no guaantees, epesentations o waanties of any kind, expessed o implied, egading the infomation including, but not limited to, waanties of content, accuacy and eliability. Any inteested paty should undetake thei own inquiies as to the accuacy of the infomation. Collies Intenational excludes unequivocally all infeed o implied tems, conditions and waanties aising out of this document and excludes all liability fo loss and damages aising thee fom. This publication is the copyighted popety of Collies Intenational and/o its licenso(s). 2010. All ights eseved. P. 20 Office Leasing Guide Collies Intenational