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What are the best sources for market trends when renewing your lease?

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Renewing your lease can be a challenging process, especially if you want to negotiate the best terms and conditions for your business. To do that, you need to have a clear understanding of the market trends and how they affect your leasing options. In this article, we will explore some of the best sources for market trends when renewing your lease and how to use them to your advantage.

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1 Local brokers

One of the most reliable sources for market trends is your local broker. Brokers have access to the latest data and information on the supply and demand, vacancy rates, rental rates, incentives, and lease terms of different types of properties and locations. They can also provide you with insights and advice on how to leverage the market conditions and negotiate the best deal for your business. However, keep in mind that brokers may have their own interests and agendas, so you should always verify their information and compare it with other sources.

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Lynn Richter

We offer solutions to the challenges of Commercial Real Estate. Commercial Real Estate Solutions, LLC. - Broker - Officer
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Every business should have a seasoned commercial real estate broker on their team, just like they have an attorney, accountant, etc. Their CRE broker can be valuable before the lease is to be renewed. Your broker can gauge where your lease is compared to market, review other terms, and help you plan well in advance. A good seasoned CRE Broker will advise you regardless of what the affect is on them. Case in point, a client wanted to buy a building. I did an analysis which showed them that out moving, buying or a renew, the renew was the best.That analysis & the decision to do as I suggested cost me about $75K in commissions. A good CRE broker will always have the client in mind first. Plus there is more to a lease than just the rental rate.

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Robert Smith

Principal Broker, Owner, Commercial Sales & Leasing Agent
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The best source would be connect with a commercial real estate broker who specializes in that market and type of property, you could also search resources such as a local commercial MLS, Crexi, and loopnet. The local zoning and permit authority could also be used to see the trends and patterns in growth for an area along with the census and demographic report.

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2 Industry reports

Another source for market trends is industry reports from reputable organizations and associations. These reports can give you a broader perspective on the economic and social factors that influence the commercial leasing market, such as consumer behavior, business confidence, industry growth, employment, inflation, and interest rates. They can also help you identify the opportunities and challenges that your industry faces and how they affect your leasing needs and goals. Some examples of industry reports are CBRE Market Outlook, Colliers Market Research, and BOMA Office Market Report.

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Samuel Ofosu-Mante

Corporate Real Estate| Valuer | MGhIS
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Industry reports are very helpful. For market data in Sub-Saharan Africa you can check out the Broll Property Intels ????????

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Michael N.
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Looking at market reports can be beneficial. But even more specifically understanding leases signed in your building recently or in like kind assets on your block. Being able to speak to this data/information can really give tenants a leg up on savings opportunities during negotiation as well as getting the opportunity to be involved in mutually beneficial deals based on market trends and information available. Get information from different sources as well to ensure you are getting more viewpoints to grasp as much of the situation as possible.

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3 Online platforms

A third source for market trends is online platforms that offer real-time and interactive data and tools for commercial leasing. These platforms can help you access and analyze the market data and trends for specific properties, locations, and time periods. They can also help you compare and contrast different leasing options and scenarios and see how they impact your business performance and finances. Some examples of online platforms are CoStar, LoopNet, and LeaseMatrix.

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4 Your own network

A fourth source for market trends is your own network of contacts and peers. You can learn a lot from the experiences and opinions of other business owners and tenants who have recently renewed or signed new leases. You can ask them about the market conditions, the challenges and opportunities they faced, the strategies and tactics they used, and the outcomes and results they achieved. You can also benefit from their referrals and recommendations for brokers, landlords, and other professionals who can assist you with your lease renewal.

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5 Your landlord

A fifth source for market trends is your landlord. Your landlord may have valuable information and insights on the market trends and how they affect your property and lease. They may also be willing to share their expectations and intentions for your lease renewal and offer you some incentives or concessions to retain you as a tenant. However, you should not rely solely on your landlord's information and proposals, as they may not reflect the true market value and potential of your lease. You should always do your own research and analysis and seek independent advice before agreeing to any terms or conditions.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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William Rosatti, CCIM

Commercial Real Estate - Land, Development, and Capital Advisory
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As a Tenant, you should always ask yourself. What can the Landlord lease my space for if I were to vacate? In certain situations, especially in retail, unique positions can be challenging to value. For example, a retail end cap on a major thoroughfare will command a much higher rate than an inline space or an end cap across the street that lacks visibility. As a Tenant, be careful not to overplay your hand if you do not have a renewal option and are occupying a high value suite. Especially with retail vacancy now hovering around 5%.

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What are the best sources for market trends when renewing your lease?

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3

4

5

6

1 Local brokers

2 Industry reports

3 Online platforms

4 Your own network

5 Your landlord

6 Here’s what else to consider

Commercial Leasing

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What are the best sources for market trends when renewing your lease?

1

2

3

4

5

6

1 Local brokers

2 Industry reports

3 Online platforms

4 Your own network

5 Your landlord

6 Here’s what else to consider

Commercial Leasing

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