Process of Leasing Commercial Property
Let Merrill Property Group help you find the perfect space to lease for your business. We partner with you in understanding your specific business and what those needs are. With that in mind, we go to work for you in helping to negotiate a lease agreement. With our pulse on the leasing market, we are able to set a fair stage for lease negotiations and put your business on top.
Establish Budget and Space Requirements
We will work with you to determine understand your business’s specific needs. This includes identifying the amount of square footage your business requires. From there, we can estimate a target lease rate and term.
We will gather a current inventory of properties for you to review. Once there is interest in a property, we will arrange for you to tour the space. During the tour, we will note and discuss what improvements will be necessary to the space in order to make it work for your business.
Letter of Intent
Once we have identified a property, our team will submit a Letter of Intent to the Landlord outlining our offer to lease. This document typically goes back and forth between the Landlord and potential Tenant a few times as we negotiate the terms of the Lease. When leasing, there are several points of negotiation such as term, leasing rate, tenant improvement allowance, and triple net expenses. We guide you every step of the way to structure the best deal for you.
Execute a Lease Agreement
Once we have a general agreement between the parties outlined in the Letter of Intent, the Landlord’s attorney will prepare a formal lease for both parties to sign.