Advice From A Newbie!

Our newest broker, Tish, has been a major asset to the Benchmark team after just one month!  We are so thrilled to have her.  As we set out on this blog journey, it was important to start from the beginning.  I simply asked Tish to give me a short statement about what she has learned/ encountered her first month.  Words from the wise!

“As a new broker you will enter a new world of acronyms. Don’t worry, you will learn it. Write it down. Look it up and if you still don’t know, ask.  I think if you love learning and you enjoy people this can be such a wonderful career.  I was surprised at the diverse nature of personalities in this industry.  It has been such a great experience to get so many perspectives on the approach to being a successful broker.  The one thing that is key, is patience.  So don’t look at this as a sprint but rather a marathon.”- TISHA BRADY

 

 

Benchmark Commercial finds Trips For Kids a new Home

Last Quarter, Tanner Mason and Joe Lengyel had the opportunity to work with Trips for Kids.  We were able to save them money on their new lease, by looking at their space needs and navigating through negotiations with the landlord on their behalf.   Joe Lengyel was able to help this non-profit find 2,150 SF of space in Arapahoe County.  We are honored to have had the pleasure to work with such a great non-profit.

Trips for Kids Denver Metro is dedicated to giving under served and at-risk youth the opportunity to experience and learn more about the natural beauty of Colorado, from the seat of a mountain bike. Trips for Kids strives to give children the chance to see a different side of Colorado.  They also work to expand their understanding of what each child can achieve, and to make personal connections with the natural world.  Trips for Kids Denver Metro is a member of Trips for Kids, a 501(c)(3) nonprofit organization based in Marin County, California. Founded in 1988 and now operating in over 75 locations throughout the United States, Canada and Israel (information pulled from Trips for Kids Denver Metro website).  Trips for Kids Denver Metro strives for excellence and quality in all facets of its programs starting with their values of safety, compassion, integrity, respect, and fun!

According to Joe Lengyel, “cost control and anticipating future expenses was paramount to getting a deal done. Being a non-profit, Trips for Kids has to have every dime spent approved by a board”. The starting ask was $12.00/sf/MG, including the NNN’s at 3.90, with $0.50 cent hikes scheduled every year. The Landlord was also asking for a personal guarantee and a Credit Check application to be filled out by a member of the board for security.  Joe Lengyel, with the guidance of Tanner Mason, was able to negotiate the terms to bypass the personal guarantee by explaining the purpose of the non-profit and showing them their exemplary track record and contribution to the community.

 The cost per square feet and $0.50 cent rate hikes were the next major negotiating points. Benchmark Commercial negotiated only $0.25 cent hikes, but the $12/sf price was cost prohibitive for the non-profit.  Ultimately Benchmark Commercial Real Estate was able to lower the rate to $11.50, and to ensure that the rate remained unchanged for the duration of the lease. Though the net effect of this is the same overall cost for the entire lease, we were able to give Trips for Kids the gift of seeing the future, which has allowed them to anticipate the upfront cost for the duration of the lease.

6 Benefits of Working with Benchmark Commercial Real Estate

We are Denver’s firm of choice for tenant and buyer office and industrial representation. As a local firm, Benchmark understands the Denver market and the key audiences involved. We are your experts in the industry, Benchmark’s team has over 50 years of experience in the Denver market. Leveraging this local market knowledge and strong industry relationships, we’re able to give our clients peace of mind while saving them time and money. Who doesn’t want to save more money and time?

  1. Our Market Knowledge and Expertise
    We select and tour the best spaces to fit your needs: Once we understand your company’s needs and goals, we analyze what is available in the market and match your needs to a handful of well-suited options.
  2. We Save You On Time
    We look at how your space will grow with your needs, what kinds of build-out and features your company may need, and what your budget looks like for real estate. All this information must be gathered, thoughtfully planned out and incorporated into your bottom line.
  3. We Save You Money
    We understand the current market landscape and rates, as well as how and what landlords are willing to negotiate, given the current market. We are here to protect your bottom line and fulfill your needs while securing the best possible lease terms for your company.
  4. We Have Industry Connection
    It’s likely that your broker has done a deal at the property or with the landlord. Industry connections, knowing the landlord, and knowing comparable deals at that location can be vital during negotiation.
  5. Our Help Doesn’t Stop With A Signed Lease
    From scheduling meetings with architects, general contractors, or other service providers, to creating a lease abstract for quick references of major lease terms, or providing sublease marketing if the space has become too small or too large – we’re your advocate and we’re here for you. Our involvement doesn’t end when the lease is signed. We’re happy to continue to provide you with industry expertise and knowledge!
  6. We Have Global Reach
    As a partner of Exis, our firm has access to and contributes to their depth of international real estate knowledge. With their worldwide team of industry experts, Exis is setting the global standard for tenant representation, delivering strategic consulting, and pragmatic solutions to our clients.

Call us today at 303-395-0111.   See how we can help you on all your commercial real estate endeavors.