Depending on the size of your leasing need, your temperament and the detail required to manage the whole process, it can take from 5 months to a year and a half to finalize everything. Most managers fall in to two categories: They've done this before and are getting ulcers thinking about the upcoming task or they've never done it and don't have a clue how detailed and unpleasant the process can be. In both cases, the tenant hadn't really totally scheduled the task or had misunderstood the level of the work. This website is to inform the reader of the very real aspects of the office leasing process, sensitize the reader to the particular components, and empower the reader to manage the process whether short or long.
Let’s put the process upside down to better understand. The construction of the space will take from as short as 30 days to as long as 60 to 90 days depending on the level of detail, special construction and working conditions. A construction permit usually takes 7 to 30 days for the building inspectors and fire marshals to okay. Preparations of the actual final construction drawings can be rushed for small jobs in 14 days but ordinarily take 30. The lease document has to be fully negotiated with the attorney, drafted and signed by both parties and can take 30 days. The negotiations themselves can be protracted or abbreviated: 15-45 days. And the big package of real estate market analysis, physical technical review,architectural/design work, governmental issues investigation can 30-180 days. The beginning steps of determining Criteria, Needs Assessment and Programming can run 7-30 days and pulling together your team can take a half a month. As in any process, you can rush through and forgo anything other than signing the lease the landlord hands you. Alternatively, you might find a space ready to move in 2 weeks. Start early. If you are a large tenant, start two years ahead.Develop your team, hire the agent. Time is ordinarily your ally in this process. Time opens other opportunities in landlord's markets and time doesn't allow the landlord or potential landlords the leverage they so often use to their advantage
