Tenant Representation

The space from which you operate is one of the single most important parts of your business. Not only is it one of the largest line items on your financial statements, it sets the expectations and tone for your employees, customers, and clients—for better or for worse.

As important as it is to get this decision right, it’s not always easy: finding your ideal space can be a murky and confusing journey. Our commercial real estate tenant representation services focus on leading and advising you throughout the entire journey, ending with your business in the right space at the right price.

Though our approach is tailored to each client we work with, our tenant rep and transaction management process has been perfected through years of experience combined with our real-time knowledge of current market trends. Allegro has built an exceptional reputation in commercial real estate tenant representation, providing services to clients ranging from start-ups to Fortune 1000 companies on diverse and unique projects in not only the Cleveland, Ohio area, but around the globe.

Since Allegro works exclusively on the tenant side of the table, you can fully relax knowing that we have your best interests in mind at all times. Regardless of whether you’re looking to lease or buy, we’ll handle negotiating the business, financial, and legal terms and conditions (working with your attorneys) to your best advantage so you can focus on what matters most—running your business.

Phase 1: Project Strategy & Criteria Selection

The objective of phase one is to identify the key success factors and drivers for your project and to determine critical milestones. We will:

  • Conduct a kick-off meeting with the project team
  • Clarify strategic, financial, and operational objectives
  • Define the facility selection criteria, programmatic requirements, and success factors
  • Develop project strategies and timeline

At the end of phase one, Allegro will summarize the critical project objectives, the selection criteria and the strategic action plan, including timeline and decision milestones.

Phase 2: Market Research and Screening

The objective of phase two is developing a short list of viable project/site property alternatives. We will:        

  • Conduct a comprehensive market survey to identify the properties which meet location and facility parameters
  • Assess budget and programming requirements to eliminate unqualified alternatives
  • Tour shortlisted properties

After completion of phase two, Allegro will provide a shortlist of viable alternatives with details on the strengths and limitations of each property.

Phase 3: Decision Support

The objective of phase three is to gather the data needed to provide objective expert analysis and support the decision-making process. We will:

  • Develop and manage distribution of RFPs to landlords and evaluate proposed terms
  • Conduct qualitative analyses to evaluate and compare alternatives
  • Perform comprehensive quantitative financial analyses
  • Prioritize short-list locations and prepare for further negotiations

At the end of phase three, qualitative and quantitative analyses of proposals and strategic recommendations for negotiations will be provided.

Phase 4: Leveraged Negotiations

The objective of phase four is securing key business and legal terms through leveraged negotiations with multiple alternatives. We will:

  • Conduct simultaneous, competitive negotiations to maintain leverage among alternatives
  • Evaluate counteroffers and resolve critical open issues for each property
  • Finalize key business and legal terms and conditions in negotiations (working with your attorneys)
  • Finalize objective comparison of properties

Completion of phase four will result in a final recommendation and negotiated letter of intent or Memorandum of Agreement for the preferred site(s).

Phase 5: Closing and Documentation

The objective of phase five is to finalize all transaction documentation for the chosen property. We will:

  • Assist legal counsel in review and preparation of final transaction documentation
  • Support public announcements with sensitivities to internal/external public relations
  • Coordinate final execution of transaction documents

When phase five is completed, the final executed transaction documents will be delivered along with a project binder containing key project correspondence.