Shelton & Associates

Shelton & Associates is a boutique, tenant-only commercial real estate advisory firm based in San Diego. We exclusively represent tenants, never landlords, and focus on lease renewals, relocations, expansions, and purchases for office, industrial, life science, medical, and warehouse users.

Most tenants only look at their lease when a renewal notice shows up. By then, the landlord assumes you’re staying and has already priced your deal. We flip that dynamic by starting 12–18 months before expiration, benchmarking your lease against the market, and creating leverage with real alternatives—even if you ultimately stay.

Our services include:
– Lease renewals and restructures
– Relocations and expansions
– New locations and site selection
– Purchase vs. lease analysis
– Multi-location and portfolio strategy

We dig into more than just the rental rate. We analyze operating expenses, base years, caps, options, escalation clauses, and flexibility terms that impact your total cost and risk over the full lease term. Then we negotiate proposals and leases so the economics you agreed to are accurately reflected in the final document.

Our fee is paid by the landlord and is already built into the transaction, whether you have your own broker or not. By hiring Shelton & Associates, you redirect that existing fee so you have a dedicated advocate on your side, rather than relying on the landlord’s broker whose first duty is to ownership.