choycepeterson.com | Renewals

"John put in a lot of effort for us, which is obvious in the results – we realized quite substantial savings with this new lease package."

- John Martin, C.E.O. of Martin Rosner Eleftherion -

"In the midst of a complex negotiation with a landlord, I realized I was into a process that required more expertise than I had in my skillset,"

- Kathleen Shelton-Smith, Chairman, Renaissance Capital Corp. -

"John’s experience was a great source of information for us. He gave us a sense of the going rental rates for other buildings in the area and helped us to understand and avoid the pitfalls of doing a deal like this."

- John Martin, C.E.O. of Martin Rosner Eleftherion -

"Our Choyce Peterson Principal, is of great importance to me because he knows our business as well as his."

- Cynthia Poggiogalle, Senior Manager, Worldwide Real Estate of Pepsi Beverages Company -

"John Hannigan guided us through all the negotiations with the landlord and nudged us, as needed, to keep things moving along. I was confident he was on top of all the details, so I could concentrate on the core aspects of our insurance business."

- John Martin, C.E.O. of Martin Rosner Eleftherion -

"It was a pleasure to work with John and Steve again. Due to our long term partnership, they played a crucial role in assessing our needs and requirements for our new office space."

- Jim Bretschneider, Managing Director of Columbus IT Partner USA -

"My father had worked with John Hannigan several years ago and was very pleased. The firm is a class act, and we were happy to call on them again."

- John Martin, C.E.O. of Martin Rosner Eleftherion -

"We were very particular about our requirements and John put in a lot of effort to ensure that we weren’t wasting our time touring offices that would not measure up to our standards."

- Mark McCall, Chief Financial Officer for Lime Rock Partners -

"We looked at quite a few satisfactory locations, and they did a great job of helping us narrow down our options; the new space is exactly what we were looking for."

- Kurt Strumpf, Chief Operating Officer for eNR Services -

"Choyce Peterson says they provide clients with experience, integrity, effort and intelligence, and they certainly do, but I’d add another bullet. They work in partnership with the client."

- Roger Berman, Principal of Bloom & Streit -

"I give Choyce Peterson high marks for negotiating with a high degree of integrity in the best interests of the tenants they represent."

- Paul D’Amico, Chief Operating Officer for Triple Point Technology -

"This is the third time Choyce Peterson has helped us secure space to accommodate our rapid expansion. Their experience makes them very knowledgeable about the available space and we’re confident we can rely on their judgment and focus our attention on growing our business."

- Kurt Strumpf, Chief Operating Officer for eNR Services -

"I was pleased with the amount of effort and information Alan and John were able to gather, enabling us to explore all of the possibilities and make sure we were taking the right space for the right price."

- Paul D’Amico, Chief Operating Officer for Triple Point Technology -

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Renewals

Choyce Peterson lease renewal service provides clients with several strategic advantages:

The power of a “represented” tenant. Experienced landlords know that tenants negotiating with the assistance of a broker present a higher risk of relocation to another building. Similarly, tenants negotiating without a real estate pro on the team renew over 80% of the time. Landlords logically assume that “un-represented” tenants are not seriously evaluating other alternatives, so these tenants don’t receive the full spectrum of concessions available in the market. The mere fact that a client has retained Choyce Peterson for a strategic evaluation of alternatives elicits more competitive proposals from the renewing landlord.

What’s your renewal worth to your landlord? It’s worth more than many clients think. Renewing an existing tenant saves the landlord the expense of finding a new tenant for the space (the cost of advertising, vacancy, tenant improvements, etc.). By quantifying these savings to the landlord, Choyce Peterson delivers increased negotiating leverage, and a better deal.

Getting behind the numbers. Better information is the key to better negotiating. This includes intelligence such as tenants seeking to sublet, lease expiration dates with size of related space, and pending relocations. By gathering market data and building-specific information, Choyce Peterson provides a true picture of the landlord’s position and the opportunity for negotiation, then develops the best strategies to bring for your business.

For a more comprehensive 'do-it-yourself' renewal process see our Interactive Tools.