Where did I put that lease? Finding the best real estate strategy

Here's the scenario: You just realized that your lease will be expiring in a few months and you start to think about what that will mean. For the most part, your current space works for you. You might need more open space or a couple of additional offices; the carpet is starting to show some wear; the walls have been marked up a bit. But, it's close to home and you have a comfort level (the car practically drives itself to the office). You also remember the nightmare of moving and the disruption to your business. So...now what. You didn't get into business to have to worry about this stuff, but now you need to. You decide there is plenty of time to address this and go about doing "more important" things. At the same time, you begin to notice all of the "Available Space" signs on your way to and from your office. You call one or two of them and discover that although there is a sign in front of the building, there isn't necessarily any space that would suit your operation, but the broker representing the building would be happy to show you other buildings. It then occurs to you that those signs never really come down and that they are really just a lead generation system for the broker. More time goes by and brokers are calling you every other day to pitch you new space or tell you how much free rent they can get you. Nobody has really taken the time to evaluate what your business needs are and how they can be aligned with your real estate needs. It all becomes a little overwhelming and with about 30 days left on your lease, you contact your current landlord and "ask" him if you can renew your lease. He says, "Sure, I'll send you a renewal letter, just sign it and you'll be good for the next 5 years." Wow, talk about the path of least resistance. You think to yourself, "done deal." You read it, you notice the part about continued escalations (seems reasonable), you sign it, and it goes back in the drawer for another 4 and a half years. You, my friend, are a landlord's dream come true! You may have saved some time, but it came at a very high price. Here are just a few of the items that a tenant rep would have negotiated for you: 1. Lower rent (those continued escalations in the renewal have committed you to rent that is well above the market) 2. Rent abatement (free rent) 3. Refurbishment allowance (new carpets, paint, move partition walls, etc.) 4. New base year for real estate taxes 5. Reduce or enlarge space (per your needs) 6. Lower escalations You rationale that your landlord would not want a broker involved is accurate. I've just shown you why. It's not because he doesn't want to pay a broker's fee (though he probably doesn't). It's because many of the countless clauses you are not equipped to negotiate, are his profit centers. And by the way, some landlords are more than willing to pay a broker's fee, even on a renewal. Some even insist on it to ensure that the broker is not motivated to move the tenant out of their current space. Bottom line: Give yourself plenty of time to determine the best real estate strategy for your business. That usually means at least one year, if not more depending on the size of your space. Ralph Benzakein, LEED AP, SIOR, is vice president of CresaPartners, Melville, N.Y.