01Owners and investors
Landlord representation
Positioning, pricing and absorption for office, industrial and retail assets.
- Owners and investors
- Twin Cities metro
- Written scope before we start
- Typical listing term
- 12 months
- Commission structure
- Percentage of gross rent
- Reporting
- Monthly, in writing
How it works
Leasing an asset is a pricing problem before it is a marketing problem. We price to the submarket, then run a disciplined campaign against a written absorption target.
Most vacancy is a pricing decision in disguise. A building that has sat for fourteen months is usually not badly marketed; it is asking two dollars over what the submarket will pay for its clear height, its load factor or its parking ratio, and the ownership has been told what it wants to hear.
We start every landlord assignment with a written position: where the asset sits on rate, on condition and on flexibility against the comparable set, what it will take to lease it in twelve months, and what holding the current ask will cost in carrying expense and lost rent.
Then we run the campaign. Broker outreach, a marketing package that leads with the specifications tenants actually filter on, tour scripting, and a proposal response standard of one business day.
What the assignment includes
- 01
Comparable set and pricing recommendation
Every competing availability in the submarket, normalised for lease structure, load factor and condition, with a written rate recommendation.
- 02
Absorption plan
A twelve month target in square feet with the tenant types, size ranges and sources that will get there.
- 03
Marketing package and listing distribution
Specification-led flyer, floor plans, test fits, aerial and drive time maps, syndicated to the regional listing services and the brokerage community.
- 04
Broker and prospect outreach
Direct canvass of tenants in the size range whose leases expire inside 24 months, plus a standing cadence with the active brokerage community.
- 05
Proposal and negotiation management
Counter strategy, credit review, allowance and free rent modelling against your hold period and your lender's covenants.
- 06
Monthly reporting
Tours, proposals, feedback themes, competing deals signed in the submarket, and whether the absorption plan is on track.
The sequence
- 01
Position
Comparable set, condition review, written pricing recommendation.
- 02
Prepare
Test fits, spec sheet, photography, package and distribution.
- 03
Canvass
Broker outreach and direct tenant canvass by expiry date.
- 04
Tour
Scripted tours with a written follow-up inside 24 hours.
- 05
Negotiate
Proposal review, credit, counters and the letter of intent.
- 06
Report
Monthly against the absorption plan, with a pricing review at month six.
Why clients keep us on retainer
- 1A written absorption target, reviewed monthly, not a vague best effort
- 2Pricing argued from the comparable set rather than from the ownership's basis
- 3Credit review on every prospect before terms are traded
- 4Test fits prepared in advance so a tenant can picture the space on the first tour
Questions we get asked
More across the whole firm on the questions page.
We start by telling you where the rate is wrong, which is uncomfortable and usually the answer. Beyond that: a spec sheet that leads with clear height, load factor and parking rather than with adjectives, test fits so tenants can see a plan on the first visit, and a direct canvass of every tenant in the size range with an expiry inside 24 months.
Not in the same submarket at the same time. Where a conflict would arise we disclose it and step back from one side. Dual agency is legal in Minnesota with written consent, but we would rather avoid the question than manage it.
Three years of financial statements or tax returns for a private company, a Dun and Bradstreet pull, a review of the entity actually signing, and a recommendation on security deposit or guarantee. A strong rate from a weak covenant is worth less than it looks.
For Twin Cities office at a seven year term, one month of free rent per year of term is a common starting point in the current market, sometimes more on a struggling asset. Industrial is far tighter, often two to four months total on a five year deal. These are sample ranges for illustration, not a quote.
Related practices
02Owners and investors
03Owners and investors
Valuation and market research
Broker opinions of value, market studies and quarterly submarket fundamentals.
Practice detailTell us the requirement
Size, timing, the constraint you cannot move. We will say honestly whether we are the right firm for it.