We help both sides with Subleases
If you have never worked with an Atlanta Commercial Real Estate company before then you’re in luck. The Office Advisors are Atlanta Commercial Real Estate efficiency experts. Check out our Google reviews when you’re searching around the World Wide Web. Or visit our website to learn more about how we can help you. There are many different brokerage options we offer. The one we’ll be discussing today is our sublease Services. Now if you do not know what is sublease is do not worry. First, we implore you to get in contact with us so we can see how we can help your business.
Furthermore, the past year has seen a rise in sublease activity. Due in no small amount to the pandemic. With government shutdowns and businesses shuttering. The need for office space has dwindled. Leases still have to be paid. So tenants are looking at the sublease option to help with the cost. As well as the responsibilities of Leasing play location.
What does subleasing actually mean?
starting off I will explain what a stop Lisa’s. Now when a tenant is leasing from a landlord this is just the first step. There are a landlord and a tenant. Now when that tenant needs to utilize some of their space. A landlord might allow them to do a sublease. All a sublease is is making a second party subservient to the tenant. This party will then lease some of the space the tenant is still responsible for.
Now just because you have a subtenant, does not generally mean that your responsibilities are gone. Because it is a sublease at the original tenant will still have to pay the rent. So in the Atlanta commercial real estate market generally speaking the sublandlord will still be responsible for all payments due. The new subtenant will then be paid directly to the original tenant. This rent has been collected and then pass on it to the landlord.
Why was the business needing our assistance?
now recently one of our Brokers is able to complete a sublease deal. He has had that this sublease listing on the market for a few months. Now throughout the summer, many businesses were not making moves. Due to the fact of the unknown in our current climate. With the economic crisis these businesses or it’s typically making large or new location deals. The Office Advisors were assisting a business that was recently sold.
Firstly this business was sold on great terms. The new owners of this carpet cleaning business no longer needed the space of the old company. However, the tenant was still responsible for its lease obligations. They were not intending to sell their business at the time of signing the lease. It all happened fast because the company was doing well. There were still roughly three years left on the lease and the tenant had to find someone to pay for that. No one wants to have a least they’re not using hanging over their head in paying thousands of dollars a month.
Where we came in
This is about the time that one of our Brokers was contacted. The Office Advisor’s advertising was able to reach the tenant in a potential sublandlord. The Office Advisors Atlanta Commercial Real Estate marketing is unmatched. We are constantly doing different things to make sure our message reaches the community. With traditional in a commercial real estate marketing after it’s being boring. They typically fall on deaf ears. As well as the industry is not known for its communication with the consumer. That is why The Office Advisors are changing how Atlanta Commercial Real Estate is done.
Sub landlord was thrilled to hear that we could help them. The broker for The Office Advisors was able to put together a package showing how we help tenants locate potential sub-tenants. The owner of the business agreed and we started moving forward with our marketing efforts.
How we found a subtenant
What’s the exclusive listing agreement was signed. Our team at The Office Advisors got to work. Putting together our marketing materials for our Atlanta Commercial Real Estate client. These include some traditional marketing, as well as our Innovative strategies.
Be professional photography was taken of the flex space. Our marketing department got to work on putting together a beautiful flyer to send out to potential tenants. As well as ADD started being run embarrass website. The listing material was uploaded to the normal Commercial Real Estate websites. Not all deals are done through these Atlanta commercial real estate listing pages. However, this is how other Brokers find us as well.
Marketing efforts an unrepresented tenant contacted us. Although there were many different on representing clients as well as brokers who contacted us throughout the process. We showed to the building multiple times but to no avail. However, this time was different. The new tenants needed to move quickly and they like to space.
Closing it out
now all that was left to do was to verify the new subtenant as well as negotiate the terms. We did a simple assignment of items and a deal was reached. The landlord company was difficult to deal with. Slow responses this is nothing that they really concern themselves with. At least still had to be paid regardless of a new subtenant. However, we were able to get the deal done in a quick manner and had the new subtenants move in. our client was happy with the job The Office Advisors did. Moving forward we can help with any other Atlanta Commercial Real Estate brokerages Services.
The Office Advisors help all types of businesses. No matter what your need for Atlanta Commercial Real Estate is we are sure to be able to help. While searching around the world wide web check out our website. As well as our Google Business listing where you can read reviews from customers and clients just like you. The Office Advisors help a wide variety of businesses and industries finding a negotiating Atlanta Commercial Real Estate space. Give us a call today so we can help you on your journey. 404-594-3028
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The Office Advisors is a subsidiary of Sellect Realty of Georgia. 404-594-3028