We offer a wide range of lease restructuring (rent reductions; partial lease terminations; lease amendments and modifications, etc.) and lease renewal services, to further assist our clients in mitigating leasehold exposure. Whether a retailerís lease restructuring or lease renewal goals are related to M&A activity, underperforming locations, relocations, downsizings, change in prototype or in the normal course of business (i.e., pending critical dates), Excess Space implements Best-In-Class programs focused on maximizing the value of real estate. These programs require more information, time and resources than ever before and have become critically important as retailers are constantly facing economic and competitive pressures as well as an on-going need to control expenses. We have worked on projects of varying degrees, from simply improving a client's bottom line, to the very complex solutions geared towards avoiding a client's bankruptcy.
Retailers, with real estate departments that are already overextended, frequently find it difficult to reallocate day-to-day workloads to manage these time intensive initiatives. With Excess Space managing the overall process (or a portion thereof, as an adjunct to your existing department), we generate real savings by negotiating lease renewals and other lease restructuring goals well ahead of critical dates. This allows retailers to become immune to the cyclical nature of annual lease renewals and inevitable program disruptions due to staffing issues.
Our program provides you with:
- An independent valuation for each site utilizing our national broker network. We provide our clients with valuations ranging from broker opinions of value to comprehensive site and market data designed to empower informed decision-making and produce superior results
- A detailed review of all lease documentation by our in-house experts to discover any lease language that can be leveraged during landlord negotiations
- Recommendations identifying specific lease language to revise or eliminate
- Comprehensive reporting and financial analysis throughout the process
- Site-specific strategies and recommendations
- Implementation of client-approved strategies and goals by our in-house expert negotiators
- Additional checks and balances regarding the management of critical dates for lease renewals
Our lease restructuring and lease renewal initiatives are implemented by Excess Spaceís highly experienced, results-driven team that provides the highest degree of stability to a retailerís lease restructuring and/or lease renewal program along with the knowledge and comfort needed to make informed and timely decisions.
Meeting Your Needs.
Excess Space evaluates each project and makes recommendations as to the best path of execution to accomplish your lease restructuring objectives. We have several fee structure models inclusive of the following:
- A performance based lease restructuring program (optional for lease renewal program) that provides clients with the necessary assurance that compensation shall only be due when a successful restructuring is achieved
- A flat fee, guaranteed "Zero Cost Program". On an annual basis, if savings generated do not exceed fees paid, we will refund the difference -- We Guarantee it!