| Some of the major factors impacting timing are your company's real estate requirement,
the complexity of your specialized needs, particularly telecommunications, trading
floor and/or special engineering requirements, the efficiency and timeliness of your
company’s decision making structure, financing and funding hurdles to meet the costs
of the relocation and the extent of construction required in your chosen site.
Some phases of the three-part process (i.e. Search, Negotiate, Finalize) are
generally easier to predict. For example, lease negotiations, particularly for
users under 10,000 square feet, should be concluded in two to four weeks. Oftentimes,
the landlord’s attorney will not send out the first draft of the lease for about
a week. While this will presumably change with the advent of the Internet, as of
early 2000, lease negotiations are a manual process in most cases. Our projections
exclude any delays caused by existing leases or obligations. Further, they are
only estimates and will be impacted by any special circumstances. Based on our
experience, and with the above factors in mind, we provide some rough benchmarks
for each of the major phases of the project. | Square Feet | | (in weeks) | Up to 10,000 | 10,000 to 50,000 | 50,000 to 100,000 | | Develop Requirements | 0.5 | 1 | 1 | 2 | 1 | 2 | | Search for Space | 1 | 3 | 1 | 4 | 1 | 4 | | Evaluate Alternatives | .5 | 2 | 1 | 2 | 1 | 2 | | Develop Short List | .5 | 2 | 1 | 2 | 1 | 3 | | Finalize Lease | 2 | 3 | 2 | 4 | 2 | 4 | Construction | | | | | | | | Minor | 0 | 4 | 1 | 5 | 2 | 9 | | Raw Space | 8 | 12 | 8 | 12 | 12 | 24 | | TOTALS | 4.5 | 23 | 7 | 26 | 8 | 39 |
back to top | |
|
