Strategize: The first stage in any requirement starts with a foundation of assessing it, planning and strategizing so that subsequent decisions and activities contribute toward the company's objectives. This usually entails a working session that touches on both macro and micro issues so that all parties are firmly grounded in understanding the goals of the assignment. Often the area which appears to take the shortest amount of time, it requires thorough, comprehensive preparation by company representatives in conjunction with their broker. Among those items to address early on and re-address as needed are:

• Purpose and objectives, company values


• Fiscal and operational goals


• Type of requirement — lease, sublease services, extension, renewal, purchase, options


• Specifics of requirement — use and purpose, type of workforce, term, size


• Facility requirement — type, condition, design, location, amenities, location


• Time line for the requirement — realistic expectations


• Current market conditions and comps


• Special concerns and requirements, i.e. security, environmental issues, work tools, data and telecommunications


• Team members/responsibilities

Analyze: The next step involves investigating and ranking all possibilities which satisfy the criteria identified and established in earlier strategy sessions. It also comprises activities such as scrutinizing leasing comps or operating cost histories in specific buildings, for example, and continuing to work on items previously initiated, i.e. deciding final team members.

• Survey of buildings to determine best possibilities


• Discussions with current ownership and/or sublessor


• Document reviews


• Sublease management


• Physical tour of selected properties


• Evaluation of selected properties (space programming, construction estimates)


• Create "short list" of properties to pursue

Optimize: The last step has the most components, as it encompasses all the many details necessary to conclude the assignment and apply the previous steps. This is the implementation phase and therefore, generally, the longest. It encompasses such activities as letters of intent, lease and purchase negotiations, buildout modifications, project move-in and beyond:

• Submit request for proposal to top properties


• Offers to current landlord


• Detailed comparisons of offers (financial, facility, services, amenities, ownership, operating expenses)


• Letter of intent (renew, lease, purchase, options)


• Negotiations of terms and conditions in final building(s)


• Coordinate lease documentation/escrow


• Move-in services


• Finalize post occupancy details