The Office Leasing Guide What you need to do before you sign Colliers International is committed to accelerating success. We understand that real estate decisions affect your future, and our mission is to help you make the right choices for your business.
contents 2
Allow us to introduce ourselves
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Getting started
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Top 10 tenant mistakes
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The office leasing process
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Step 1 – Determine your property needs
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Step 2 – Evaluate market alternatives
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Step 3 – Committing to premises
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Step 4 – Fitout design and project management
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Translating the lingo – FAQs and glossary of terms
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Relocation checklist
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allow us to introduce ourselves the who, what and why of Colliers International The Office Leasing Guide This step-by-step guide has been assembled to reflect Colliers International’s knowledge of the leasing process and potential pitfalls. Complete with information on fitout and reinstatement costs, timelines and frequently asked questions, it is an essential handbook to ensure your decision to remain in your current premises or relocate runs smoothly.
Who is Colliers International Commercial Leasing? We are an award-winning team of office leasing professionals with intimate knowledge of the leasing markets, occupier needs and the leasing process. At the forefront of our service is a commitment to delivering a business solution to meet your organisation’s needs – now and in the future. We appreciate that your office premises are more than an address, rather, they are a platform with which to make your business objectives a reality. Our consultants are equipped with the skills, knowledge and tools to intelligently assess your space problem. We ensure that the leasing decision – whether to stay or relocate – is reached after effective assessment of your needs and market evaluation.
Colliers International office - Shanghai China
Colliers International’s culture of knowledge-sharing gives you access to the suite of skills required to make an informed leasing decision, including experts in workplace strategy and design, corporate real estate services, retail, industrial and sales.
Why Colliers International Commercial Leasing? Working with the Colliers International Commercial Leasing division will save you the confusion of dealing with multiple agents, landlords and consultants. In contrast to the residential leasing process, office leasing practices allow you to work with one leasing professional to seek out all suitable options in the market. Our comprehensive database contains information on every prime office listing, agent and landlord so that we can search the market to find the right option for your business, regardless of who the landlords and landlord agents are. Alternatively, if you prefer to proceed with a formal tenant representation service, Colliers International is also able to refer to specialists in our organisation to assist you.
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getting started making an educated decision about your office accommodation What are my options?
How much will it cost?
Renew: The initial option to consider may be to renew your existing lease agreement; this will be the base case. Your future business needs and goals will allow you to determine whether the amount of space occupied may remain as-is, increase or decrease at the existing location. Relocate: The expiration of your lease could offer you an exciting opportunity to transform your business and create new efficiencies by relocating to new premises. Consolidation: If you occupy multiple sites you may wish to review the potential to consolidate operations to a single location to take advantage of operational efficiency and reduced space. Operations split: If you occupy a large area at one location you may wish to consider the potential to split front and back office operations. This may allow you to take advantage of lower rental charges for back office operations outside of CBD areas.
Why should I relocate? Business needs If your current space is too small, too large or inflexible relative to the way your organisation works, then new or re-engineered premises can act as a springboard for improved productivity and operational cost savings. Additionally, market conditions may create cost benefits supporting the business case for relocation. Your organisational brand The building which you occupy and the fitout in your tenancy speak volumes about your organisation. A revitalised fitout or new premises can strengthen your employees’ sense of brand as well as communicate your core values to customers and other stakeholders. Employee satisfaction and retention Entrepreneurial businesses will consider the many positive flow-on benefits companies receive in re-positioning their business and their people to better accommodation. Increases in staff morale lead to increases in staff productivity. Increases in staff productivity lead to increases in the bottom line financial performance of any business.
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Operational costs Negotiability of rentals and incentives are dependent on the equilibrium in your local marketplace. In certain markets, the development cycle has created favourable circumstances for tenants considering relocation. To understand conditions in your office market, contact your Colliers International consultant for the outlook in your location. Fitout and reinstatement costs Your entry and exit strategy to a lease contract can greatly affect the real cost of your commitment. Workplace design and fitout costs should be viewed as an organisational opportunity – a well-planned and executed fitout will adapt to your organisation’s growth, changing needs and minimise churn costs. A balance between your fitout costs and the benefit it yields to your organisation is, therefore, critical. In addition, reinstatement commitments have the potential to affect your cashflow when exiting a lease. These costs are covered in more details in this Guide.
When should I start? Plan, plan, plan Business continuity is the key when exploring your office leasing options. Whether you decide to stay or go, knowledge is key. Allow sufficient time to ascertain your current situation, review other options, assess the marketplace context and possibly negotiate with your current landlord to ensure you optimise the end result. Timing The period required to conduct this process ranges from three to six months as a minimum, to two years or more for larger organisations.
Who should I involve? Your internal steering committee should be chaired by a senior employee, supported by decision makers and influencers including human resources, IT, divisional heads and staff. You may wish to conduct a survey of your staff to determine their needs, preferred working style and location. Colliers International has a proven in-depth Needs Analysis Survey available to assist in this step. Professional real estate advice is a critical part of the project team skill set. This will arm you with insight into the marketplace status quo, your alternative options and the financial implications of the stay or go scenarios.
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top 10
the office leasing process
most common mistakes made by commercial tenants
4 steps to business productivity
1.
Begin the renewal or lease negotiation too late
2.
Do not have a clearly defined real estate brief
3.
Focus too heavily on pure financial costs
4.
Fail to appoint an internal single point of contact / project leader
STEP 1
Conduct accommodation requirement evaluation
Produce real estate brief
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6.
Evaluate market alternatives Relocate or stay put
STEP 2
Make incorrect / inaccurate estimations of their space requirement
Relocate
Renew Consider existing premises as possible opportunity
Fail to leave enough time at the end of their lease to fulfil reinstatement obligations
Brief existing landlord
Brief preferred landlords
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Act too slowly once a decision is made on premises, consequently missing out on opportunities
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Agree to terms prior to obtaining a space planning perspective
Begin offer / counter-offer process
Financial comparison of proposals and Decision Matrix Begin offer / counter-offer
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Fail to allow space for business growth
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Do not appreciate that the best deals are usually secured well in advance of the space actually becoming available
STEP 3
Committing to premises Relocate or renew Commit to new (or existing) premises
Complete new (or variation of) lease documentation STEP 4
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Fitout design and project management
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step 1 determine your property needs
Taking your requirement from notion - to motion
The workplace brief
Skipping the planning stage makes the list of Top 10 mistakes most commonly made by office leasing tenants. It is crucial to understand your business and workplace, and therefore, property requirements through a process of evaluation and forecasting.
The organisational briefing process will result in the documentation of your workplace requirements. • Growth projections • Space budget • Space standards • Organisational vision and objectives • Cost parameters
Organisational briefing – confirm your business plan objectives Commercial Leasing decisions should be considered with a medium to long term mindset with most leases running for three years plus a renewal option. Therefore your property decisions should take a view of your company’s future requirements as well as today’s needs. Guided by a professional, workplace strategist / designer, the organisational briefing process will develop answers to a range of questions including: • • • • • • •
Is your business growing or shrinking? What are your brand values? What are your preferred work settings? What type of employees will you have in the future? What will your technology requirements be in three years? Are you considering acquiring or merging with other firms? What effect will moving have on your customers and staff?
Only by adopting this “concept-planning” phase will you achieve the maximum benefit (both financial and strategic) in a relocation or re-engineering of your business accommodation. Only minimal gains are possible if the workplace design focus is restricted purely to the design and construction phase (Step 4).
Involve key internal decision makers Assemble a team with a breadth of skills to drive the project. Consider involving your experts in IT, HR and Finance. They will be familiar with specific future trends that may influence your requirements and decisions. Their involvement from the outset will help clarify and focus your brief and achieve internal buy-in. Be sure to appoint a project leader to liaise with your internal stakeholders as well as your agent and consultants.
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The real estate brief A well-prepared real estate brief will synthesise the workplace brief and translate these to your property requirements. The brief will expedite your decision-making process – you will save considerable time by only inspecting and reviewing suitable properties, and you will also have a framework with which to assess and compare your options. An important element in developing this brief is to audit your existing premises – your real estate brief will document your desired situation.
What should be in your brief? • Size of space • Number of employees (max and min) • Location • Building services • Security and access • Technical requirements • Environmental considerations • Signage / naming rights • Fitout needs • Image / quality / aesthetics • Carparking • IT and communications infrastructure • Office hours • Lease structure preferences • Timing • Budget • Other unique needs • Term / renewal Your brief should be documented and used to evaluate options. Consider ranking each factor in terms of importance as you may have to compromise on some items – depending on the options available.
Know your local market and commitments During this phase, you should familiarise yourself with local office market conditions and existing lease commitments. By knowing the market vacancy rates, supply projections and indicative rentals, you will be in a better position to evaluate various proposals. Your Colliers International leasing consultant can provide you with an office market presentation which details these factors.
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step 2 evaluate market alternatives
Inspect and evaluate your options
Lease conditions such as renewal requirements can also impact on the attractiveness of a particular option. For a guide on renewal costs, refer to Page 17.
Release your brief to the market
Compare your options using a lease analysis model To avoid having to deal with multiple agents, you can request that your Colliers International Commercial Leasing professional approach the market on your behalf. With an intimate knowledge of the market together with a well-established network of agents and owners, Colliers International will act as a single point of contact whilst still sourcing all space opportunities. They will also assist in discussions with your existing landlord regarding renewal options.
Inspect and evaluate alternative premises options, your current premises and prepare a shortlist When analysing alternative premises, consider timing, financials, whether to lease or purchase, and other incentives which may be on offer. Your renewal option should include expansion / contraction costs as well as potentially reconfiguring or completely refurbishing your workspace. Aim for a shortlist of three to four properties. Evaluate options against your brief, ensuring property options match your stated business objectives. Colliers International has developed a range of decision models and matrices to assist in decision making, thus enabling short-listing of a wide range of options. These tools dramatically improve efficiency in the evaluation process.
Financial analysis There are several ways to compare leasing financials including: • Net effective rent per square metre • Gross / net rent per square metre
• Gross face rent per square metre • Total occupancy cost per employee
Further details on these measurements are provided in Frequently Asked Questions. Look beyond the square metre rate on offer. Some office space is highly efficient, enabling you to seamlessly accommodate your employee quota in less space. For example, you may require 500 sq m to accommodate your staff in one building whilst another may be able to house them comfortably in only 400 sq m. In this instance, it does not make sense to compare the two options based on their rate per sqm but to use a lease analysis model.
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Colliers International has developed a lease analysis model (LAM) designed to compare leasing options on a financial basis, using an “apples to apples” approach. The model allows the comparison of lease proposals from multiple lessors, demonstrating the cost of the financial offer (taking into consideration incentives, rent and term) over the life of the lease.
Workplace design and fitout considerations It’s not all about cost When evaluating your property options, don’t forget to consider the non-financial costs and benefits for each property option. Your workplace designer can help you evaluate each option’s impact on factors such as staff productivity and communication, corporate identity, IT and communications performance and your customer base. If appropriately engaged at Step 1, your workplace designer will have maximised their ability to positively influence the workplace brief. In today’s challenging business environment, it is critical that organisations extend beyond the traditional view of office accommodation and the measurement standards normally applied. It is now a fundamental requirement that the office architecture supports the intellectual work demanded of employees and facilitates an organisation’s continuous improvement strategies. It must also contribute towards the development of team networks and organisational learning systems. In addition, the office systems must support organisational change efficiently, effectively and with minimal redundancy. Test-fit the options - determine workspace efficiencies By conducting a design “test-fit” / site audit of the short-listed options, your workplace designer will determine the workspace ratio efficiencies for each property. This process also produces sample fitout designs prior to your agreeing to terms. This process helps determine your fitout costs and will also enable you to compare your premises options on financial (eg. fitout costs) and non-financial (eg. optimisation of the workplace brief) criteria more effectively.
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step 2
step 3
evaluate market alternatives - cont.
committing to premises
Your workplace designer will provide the following services during this critical evaluation phase: • Assess items suitable for re-use in the new fitout • Prepare a test fit to see if a selected site can fit your requirements • Prepare ‘stacking and blocking’ plan • Prepare preliminary concept designs • Conduct building services audits • Manage the pre-design process including a review of local authority approvals and code requirements • Provide a draft proposal outlining approximate costs
Fitout costs Fitout costs can be defined as all construction costs incurred from the handover to the move in condition. Generally, handover conditions of office buildings in Shanghai include the following: air conditioning facilities, dropped ceiling; concrete screed or raised floor. It is important to also mention that the term fitout can sometimes include wiring and system furniture so be sure to define this clearly with your designer. Attaining a fitout that is aligned with your organisation’s envisaged outcome will depend on what components are viewed as necessary as well as what is discarded during the design phase. It is critical that all aspects of the fitout are assessed to determine their contribution towards the overall objectives.
Letter of Intent Once the particulars of a leasing agreement have been negotiated, a “Letter of Intent” document will be sent out. This document is generally not legally binding but details the principle terms and conditions prior to the formal lease agreement. This document will be used to brief solicitors and to prepare the final Lease Agreement.
Workplace design issues When a leasing agreement has been entered into, the workplace fitout process needs to be activated immediately. At this stage, you should have completed: • Needs analysis • Space budgets • Test fit This will enable you to engage a designer (this may be the workplace designer) with accurate information regarding your organisation’s requirements. The sooner a designer is engaged, the better the outcome will be. It is vital that this stage is viewed as an investment in the organisation’s future and not merely a new fitout. The fitout should be linked in with the organisational strategy and will contribute to the transformation of the workspace into a collaborative and dynamic working environment.
The identification of positive and negative components through the audit process provides the opportunity to maximise the effectiveness of the final plan and potentially minimise the cost of the fitout. Colliers International office - Auckland New Zealand
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step 4 fitout design and project management
The final stage of the process provides the perfect opportunity to re-think office imperatives and prepare a brief for the envisaged space that will promote organisational effectiveness, community, communication and productivity. The sooner you evaluate needs and engage a capable designer and project manager, the more time you will have to create the space that will match your organisation’s vision.
Design development / authorities’ approval • • • • • • • • •
Engagement and full briefing of all other specialist engineering consultants Commencement of detailed design Development of finishes selection Short-list of furniture selection Review opinion of likely fitout cost Detailed programme preparation Provision of documentation for building owner and authorities Council / authorities liaison Stakeholder co-ordination
Contract administration / fitout phase • • • • • •
Manage the delivery process and administer contracts Appoint all approved contractors and suppliers including head fitout contractor Co-ordination of all required meetings Co-ordination of quality control inspections Cost and variation management Project manage delivery programme
Project completion / defects rectification / occupation phase • • • • • • •
Oversee practical completion Timely issue of Code of Compliance certificate Inspection and sign-off Manage the identification and completion of all outstanding and defective works Cost reporting and final accounts As-built drawings, guarantees and warranties Final inspection and completion of works at the end of the defects’ liability period
Detailed design and documentation phase • • • • •
Preparation of documentation for tender Finalise furniture selection Stakeholder coordination Detail finishes Obtain building / resource consent
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Tender / tender review phase • • • • •
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Tender documentation Determine agreed tender panel Tender management and analysis Review and assess tender responses Submit recommendation for client approval
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typical project management brief WEEKS 1 2 PROJECT SCHEDULE STAGE 1 Submit CIWI Proposal Notice to Proceed PROJECT PREPARATION (KICK OFF MEETING) Brief Provided Obtain Headcount / Growth Projections Obtain Organisational A nities DESIGN & PROGRAMME SERVICES Audit Existing Furniture Base Building Audit Site Measure / CAD Concept Design Af nity Relationship Planning Client Con rmation Final Block & Stack Planning Preliminary Scope of Works Budget Estimates DELIVERABLES Draft Project Plan PROJECT SCHEDULE STAGE 2 Notice to Proceed DESIGN & DOCUMENTATION rm Space Planning Requirements Develop Final Design Statutory Approvals Finalise Furniture Sp cations Detail Finishes Prepare Contract Documentation PROJECT MANAGEMENT Base Building Services Assesment Building Services Plan De ne Scope of Works Final Budgets Develop Project Schedules DELIVERABLES Complete Design & Documentation Budget Building Program PROJECTED MANHOURS STAGE ONE CIWI Senior Designer CIWI CAD Designer CIWI Project Consultant CIWI Project Manager PROJECTED MANHOURS STAGE TWO CIWI Senior Designer CIWI CAD Designer CIWI Project Consultant CIWI Project Manager PROJECTED EXPENSES Stage 1 Reimbursables Stage 2 Reimbursables
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frequently asked questions
The following are just a few of the more commonly asked questions about leasing office space.
translating the lingo How can I negotiate the best deal?
Gross Rent and Net Rent, Effective Rent and Face Rent?
By carefully selecting the right properties on your shortlist, you can create a competitive environment whereby the best rent can be achieved. Your Colliers International broker can assist you throughout this process.
GROSS RENT is the rent calculated inclusive of all building outgoing costs whereas NET RENT is the rent calculated excluding building outgoing costs. FACE RENT is the quoted rental rate before taking into account incentives or increases whereas EFFECTIVE RENT is the rental rate averaged out over the term of the lease and giving consideration for rent free periods or up-front incentives.
What is a square metre? A square metre is an area of measurement, one metre by one metre. It is approximately equivalent to 10.764 square feet.
Will I be able to sublease or assign my lease?
How much space will I need? The amount of space you require will vary depending on the nature of your business and the ‘efficiency’ of the space you end up selecting. As a rule of thumb you will require roughly between 8 - 18 sq m of space per employee.
Are amenities included in the Net Lettable Area? Yes, assuming you occupy a whole floor. The amenities within the floor are incorporated within the net lettable area measured and the area that rental is paid for, e.g., toilets and kitchens.
What cost elements will my outgoings consist of? Outgoings means the total of all costs, charges, rates, taxes, fees, expenses and other outgoings incurred by the landlord or for which the landlord may be liable in respect of the whole part of the building. These include: rates, taxes and operating expenses such as insurance, common area cleaning, repairs and maintenance etc.
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Most commercial leases do not allow the lessee to sublease or assign their premises. Typically, the lessor is able to withhold consent to the sub- lease / assignment. A prudent lessor, however, will consider the strength of covenant being offered by the incoming tenant, and will be reluctant to accept a sublease / assignment should their financial position / security be reduced as a result of the sublease / assignment.
What additional costs am I responsible for over and above the base year? In addition to a pro-rata share of building operating expenses, you will generally be responsible for electricity and other utility charges, light bulb replacements and cleaning of your own premises. The base year is the nominated year stated in the lease. This may be updated subject to the rental review clause in the lease.
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What are the rent review patterns for the term as well as the option period? Most lessors will have a standardised lease document for their building, including a rent review pattern pre-agreed in light of the lessor’s own objectives and current market conditions. Typically, the two most significant influencing factors on rent review patterns are lease term and the commencing rental. Rent review methods may include fixed increases, structured increases or reviews to market levels (with or without a ratchet clause). A ratchet clause ensures that the reviewed rental can be no less than the previous year’s rental, CPI plus a fixed percentage, and often comprises a combination of these throughout the term of a lease.
What is reinstatement ? A reinstatement is your (the lessee’s) obligation to return the premises to its original state upon completion of your lease, usually excepting fair wear and tear of floor coverings. Within most major cities in China, including Shanghai, it is market practice that the tenants be responsible to reinstate their office premises when they reach the end of their leasing contract. If you are relocating, your workplace designer will usually be able to conduct a “make good” on your previous premises as well as design and fitout of your new premises.
Lessees will typically request a right of renewal as part of the lease negotiation, allowing them to extend their occupation beyond the initial lease term. It is normal that the rent review pattern for this term is set out in the original lease document.
When does my company or when does the agreement become legally binding? During typical lease negotiations, non-binding leasing proposals are used as a medium to determine terms and conditions acceptable to both lessor and lessee. The lessor and lessee becomes legally bound once an agreed lease agreement is executed by respective parties.
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glossary of terms translating the lingo Building Consent
Incentive
Occupancy Ratios
Resource Consent
Approval from the relevant authorities for carrying out building work on the premises, usually for fitout.
An inducement offered by the lessor to attract new tenants to the building. It may be offered in various ways, e.g. rent-free, provision of fitout, etc.
A common ratio used to measure the tenant efficiency of individual building’s floorplates. This ratio is calculated by dividing the total net lettable area by the number of people who occupy a floor. Average occupancy ratios vary between 1:08 – 1:18 sq m per person.
Approval from the local council in regard to zoning or changes in the permitted use of the premises.
Cap and Collar A term and method used in some market review clauses. It is a mechanism that puts a nominated ‘cap’ or maximum amount by which the rent can be increased, or a ‘collar’, the maximum the rent can decrease, on the nominated market review date. As the commercial office leasing markets strengthen, these review methods are more difficult to negotiate.
Gross Effective Rent The rent payable under the lease accounting for all incentives and including all building outgoings.
Gross Face Rent The rent payable under the lease excluding any incentives but including all building outgoings.
Net / Gross Rents Essentially a net rent is your rental excluding any management fee and service charges whereas a gross rent is inclusive of management fee and service charges. Most leases are based on net rents plus your proportionate share of building outgoings.
Lessee That party, whose name appears as lessee on the formal lease document, binding themselves to the terms and conditions stated therein. Otherwise known as the tenant.
Lessor That party, whose name appears as lessor on the formal lease document. They are the landlord or property owner.
Lettable Area Net Lettable Area (NLA) NLA (measured in square metres) is typically the gross internal area within a given tenancy. It generally includes window frames and structural columns, toilets, kitchens and cupboards and excludes plant / motor rooms. It also excludes areas dedicated as public spaces or thoroughfares such as foyers and building service areas.
Gross Lettable Area (GLA) GLA (measured in square metres) is the floor space including common areas. Colliers International office - Canberra Australia
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Ratchet Clause – Full Ratchet & Soft Ratchet The mechanism whereby the rent upon review cannot decrease. There are variations of ratchet clause: full / hard ratchet and soft ratchet. Under a soft ratchet, the rent cannot fall below the commencement rental. Under a full ratchet, it cannot fall below the current rental.
Reinstatement Reinstatement is the lessee’s obligation to restore the tenancy prior to expiry of the lease.
Right of Renewal The lessee’s right to renew a lease for an agreed period of time prior to expiry of the initial lease
Secondary Outgoings / Service Charge Being all other costs associated with insurance, operation, upkeep and / or maintenance of the building e.g. air conditioning, lift maintenance, common area cleaning, security and electricity.
Statutory Outgoings Statutory outgoings include costs such as municipal rates, water and sewerage rates and usage charges.
Sublease / Assignment The mechanism under the provisions of the lease allowing the lessee to find a suitable replacement tenant. This is subject to lessor approval and unless specifically stated, does not limit your legal responsibilities during the term of the lease.
Rent Review The method by which your rent can vary during the term of the lease. Can be either a market review, a predetermined figure or fixed to an index such as CPI. The review structure for the duration of the lease period is agreed prior to lease commencement.
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relocation checklist a step-by-step guide to the relocation process PRELIMINARY Finalise lease for new location. Notify present landlord of termination date.
Assign move supervisors to departments. Develop a master relocation project schedule. Schedule and implement a regular programme of clean-up
Advise staff of date and location of move. Engage designer for new premises (if required).
Schedule staff for unpacking ie. stocking supply cabinets,
Create a master change-of-address List. PRE-MOVE – GENERAL Pre-book elevators and loading docks for moving day. Tender and award moving contract. Tender and award telephone and computer cabling. Inventory existing furniture. Audit keys. Order new stationery. Check your insurance coverage for the move.
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required permits or licences have been obtained. Advise specialty suppliers (telephone, bottled water, coffee service) of new address. Mail moving notices. r 1IPUPDPQJFST r $MJFOUT BOE DVTUPNFST r $MVCT BOE PSHBOJTBUJPOT r $redit accounts and credit cards / Insurance companies r Accounts Receivable / Payable r /ewspaper and magazine subscriptions r Telephone company r 1rospects and special services Hold a meeting at new premises three weeks prior to move. Bring all parties involved (design / construction / mover / cabling company / IT specialist) to ensure all details are covered off and all responsibilities clear. Schedule public relations effort, including plans for news Change locks / access codes on new premises as close to moving day as possible to secure access. Decide on security procedures for the move. Arrange for listing on lobby directory of new building. Arrange for post-move cleaning. PRE-MOVE – INTERNAL Organise a “staff moving committee” if appropriate and delegate responsibilities. Schedule and prepare agenda for your Employee Move Orientation Meeting. Finalise new seating plan and identify each location so labels can be prepared.
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and equipment to ensure your company will be operational as rapidly as possible after move.
everything is properly labeled. Arrange for staff to tour new premises a few weeks prior to move. procedures at the new facility. Distribute access cards and keys for new premises. MOVING DAY Arrange with the building manager to have the air conditioning in operation during the move. Remove computer equipment (server) and phone system prior to arrival of movers and commence reinstallation at new site. Draft an emergency contact list for vendors such as elevator maintenance, building management, utilities, telecommunications, and moving company. POST-MOVE Reinstall and test telephone system. Distribute new phone list and map showing location of departments. Reinstall and test all computers. Do a detailed walk-through of the premises and report any damage to moving company. Transfer your insurance to the new location. Obtain
security deposits. Collect parking passes, security cards and keys for the old landlord for these items. and pay retention. furniture and equipment. and equipment purchased. Schedule press release and client announcement (if different from moving notice).
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Colliers International offers a full range of property solutions r 4BMFT -FBTJOH r *OWFTUNFOU 4FSWJDFT r $PSQPSBUF 4FSWJDFT r $POTVMUBODZ 3FTFBSDI
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This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own enquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising therefrom. Colliers International is a worldwide afďŹ liation of independently owned and operated companies. This publication is the copyrighted property of Colliers International and/or its licensor(s). Š 2008. All rights reserved.
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