Power of choice is a key factor in negotiating effectively.
We recommend submitting offers on at least three suitable idustrial spaces at once, providing more negotiating leverage with landlords along with more and better choices for our clients.
Letter Of Intent –
An offer is known as a “Letter Of Intent” or “LOI” and is a comprehensive statement of the basic terms and conditions offered by our client. The Letter of Intent terms will ultimately be addressed in the lease documents when accepted by all parties.
The Letter Of Intent can contain the following:
- Rent amounts below the Landlord’s asking rate
- Industrial space size & layout
- Free rent period
- Lease length
- Suite configuration and/or build-out & improvements
- Power, water and HVAC specs
- Clear height & rollup door specs
- Special requirements – loading access, ventilation, etc.
Once negotiations on the basic terms and conditions of the Letter Of Intent are completed, lease documents are prepared.