TenantWise
Home Search For Space My Tenantwise About TenantWise Contact



Login

Register
Search for Manhattan Office Space





Transaction Timing

Estimating a Timeframe

Some of the major factors impacting timing are your company's real estate requirement, the complexity of your specialized needs, particularly telecommunications, trading floor and/or special engineering requirements, the efficiency and timeliness of your companyís decision making structure, financing and funding hurdles to meet the costs of the relocation and the extent of construction required in your chosen site.

Some phases of the three-part process (i.e. Search, Negotiate, Finalize) are generally easier to predict. For example, lease negotiations, particularly for users under 10,000 square feet, should be concluded in two to four weeks. Oftentimes, the landlordís attorney will not send out the first draft of the lease for about a week. While this will presumably change with the advent of the Internet, as of early 2000, lease negotiations are a manual process in most cases. Our projections exclude any delays caused by existing leases or obligations. Further, they are only estimates and will be impacted by any special circumstances. Based on our experience, and with the above factors in mind, we provide some rough benchmarks for each of the major phases of the project.

Square Feet
(in weeks) Up to 10,000 10,000 to 50,000 50,000 to 100,000
Develop Requirements 0.5 1 1 2 1 2
Search for Space 1 3 1 4 1 4
Evaluate Alternatives .5 2 1 2 1 2
Develop Short List .5 2 1 2 1 3
Finalize Lease 2 3 2 4 2 4
Construction            
Minor 0 4 1 5 2 9
Raw Space 8 12 8 12 12 24
TOTALS 4.5 23 7 26 8 39

 


Goods & Services     Privacy     Press     Terms of Use