Last Minute Relocation
Recently I received an email from an agent in our office asking if I would contact her acquaintance, who needed a new location for his practice.
Upon contacting this person, I was told that he had to be out of his current location and into a new facility by the end of the month, less than 30 days.
In order to try and accomplish this I had to search the commercial databases for available properties that, generally, met the criteria, confirm their availability with the listing broker, find out how to show them, send this information to the client and get his response to what properties he wanted to see.
Out of five available properties, he wanted to see two. Neither of them worked for him. Setting up the tour and getting access. So, change the criteria, expand the search area and produce more possibilities. Lather, rinse, repeat.
The client settles on two “finalists”. During a final look we discovered that one of them had actually been leased to a tenant in the building who needed to increase his space. This forced a decision to go with the remaining contender. By this time, we are about two weeks into the adventure.
During these two weeks, Life had caused a few delays; financial records are not readily available or complete and have to be produced, current IRS filings end at 2017, uh oh!, will this cause the Landlord to view this as a reason to disqualify the client? Patients have to be seen and treated, a friend suffers an accident and time must be spent with her at the hospital, the client’s weekend fishing trip cannot be cancelled, more time lost.
We are now down to about 10 days before the client has to vacate. The selected property was listed as a sub-lease and the Landlord does not have the release of the space. Thankfully, the tenant has moved everything out, but the space is still his. We are still negotiating the client proposal and trying to get all of the necessary documents initialed, signed and gathered together for delivery to the Landlord’s broker/property manager.
The Landlord’s representatives, bless them, have turned out to be responsive, understanding and exceedingly helpful. They have produced the lease and related documents even though they still don’t have the official return of the space. Although they know this will not cause a problem.
We settle on the money issues, I will pick up two cashier’s checks and deliver them to the broker along with the signed lease, guarantees, et al. The Landlord has allowed the client to move in over the weekend so that he can start receiving patients on Monday. Whew!
Try to work within a realistic plan and schedule, don’t wait until the last minute. Look ahead and understand that there are several entities involved in this type of deal. The Landlord also has a schedule, which may not mesh with your need. He may have overriding considerations, including the filling of a vacancy.
Life will happen. Things may not work as desired or in a timely fashion. Some of the wheels may not come off, but they will get wobbly. Family/friends may come first. Don’t kick the dog.
If you find yourself in a similar situation, in spite of best efforts, pray for an understanding and supportive Landlord.
Coldwell Banker Commercial NRT
Winston R. Covington
Coldwell Banker Real Estate
Realtor – U.S. Army Veteran
Proudly Serving All of Orange County
And the Surrounding Communities Since 1978
DRE # 00645114