The Tenant Agency

BACKGROUND

Introduce your business and what you do there.

I’m the founder and principal of a communications firm.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with The Tenant Agency?

We engaged The Tenant Agency to help one of our locations find new office space. We also needed help finding an architect and contractor to lead a build out.

SOLUTION

What was the scope of their involvement?

The Tenant Agency worked with us to create a test fit based on our firm's needs. We determined attributes that were important to us, such as an attractive lobby, an ideal location, and elevator presence. Samuel (Managing Partner, The Tenant Agency) and I visited a dozen different buildings before narrowing down our options. Once we chose a space, we worked closely together to negotiate the lease, make pricing decisions, and finalize other details. 

After that, we worked with Chilton (Managing Partner, The Tenant Agency) and Colin (Vice President, The Tenant Agency) for contract management services. They liaised with an engineer, AV vendors, and moving vendors, collecting quotes and ultimately saving us time and money. The Tenant Agency also worked with us to find an architect and lead the build out. Wanting blank space, we renovated the office down to the retaining walls. Their team was there from the build process to the design to choosing and moving furniture.

What is the team composition?

I primarily worked with Samuel, Chilton, and Colin.

How did you come to work with The Tenant Agency?

In our firm’s early years, Samuel reached out to me to offer his team’s services. We’ve now worked with The Tenant Agency for three different office moves.

What was the length and value of the lease?

I’d rather not share the value, but The Tenant Agency secured us a 10-year lease for a 9000-square-foot space.

What is the status of this engagement?

We started working with them in February 2018, and we moved into our new space in December 2018.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

The Tenant Agency delivered within our agreed-upon timeline and budget—even though we moved into our new office space over the holidays. The team also offered a 10% overage line item that we did not need to use.

How did The Tenant Agency perform from a project management standpoint?

Working with their team was one of the best decisions I made all year. Relying on their immense experience, they provided guidance every step of the way. They had multiple backup plans if something didn’t work out—all without adding costs to our bottom line.

What did you find most impressive about them?

The Tenant Agency was always honest, transparent, and reliable in their delivery on promises. I haven’t worked with other brokerage firms, but based on anecdotes from my colleagues, those three traits are not always present in a brokerage relationship.

Are there any areas they could improve?

Honestly, no. I can’t think of anything.

Any advice for potential customers?

Tap into their experience and listen to their thoughts and opinions. By asking lots of questions, I was able to consider several alternatives offered by The Tenant Agency.

BACKGROUND

Introduce your business and what you do there.

I’m the vice president of operations and general counsel at a foundation that supports medical research.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with The Tenant Agency?

We were considering moving offices at the end of our lease.

SOLUTION

What was the scope of their involvement?

The Tenant Agency helped us move office spaces. We told them what kind of space we were looking to move to, what our public profile, budget, and location preferences were, and ended up looking at 12 or more spaces. Tenant Agency was always helpful in arranging multiple visits for a property, when necessary, and they conducted a lot of helpful market analysis, which gave us something to show board members.

Our final property choice was a combination of cost, location, and an ability to be creative with the buildout of the space. Tenant Agency worked with an architectural firm to develop test fits of the spaces so we could imagine what they would be like. The final choice wasn't one of my personal favorites, but more people liked it, and the test fit made a huge difference.

They also handled lease negotiations with the new location. We were well-positioned thanks to our strong balance sheet and lack of debt, but there was a moment where we thought it might fall apart. The landlord made a mistake in what they offered us, which was significant enough for them to want to roll it back, and significant enough to us that it would’ve endangered the whole project. Tenant Agency was able to represent our interests well and work with the landlord to come up with a creative solution.

How did you come to work with The Tenant Agency?

They reached out to us and we interviewed them, even though we don’t normally accept unsolicited inquiries. We interviewed two others as well, one of which was fairly well-known. We felt we’d be a small gear in a much larger machine there, and that we wouldn’t be a priority to them. The second firm we interviewed was solid, and we felt comfortable with them, but we were more impressed by The Tenant Agency.

Their proposed management method was high quality, as was their buildout of the space. They also wanted to maintain a relationship with us during the lease, which is unique, since there isn’t a financial incentive for them to do so. It came down to a decision between a more well-established group that could guarantee quality, and Tenant Agency, which was a bit of a riskier choice. Still, if they came through, it would really work out.

What is the status of this engagement?

We worked together from April 2016 until November 2017.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Every expectation was met, without reservation. We eventually chose a place within our budget, and Tenant Agency was able to negotiate it downward. We got nearly everything we wanted. Some things will always be unobtainable, and this isn’t a reservation at all.

On the buildout side, it was critical that we make a cultural statement and not just an economical decision. We wanted a space that fit out cultural aspirations, and also conveyed the correct messages to our partners, stakeholders, and the general public: that we’re not only a forward-moving organization but also one that takes good care of its donor resources.

How did The Tenant Agency perform from a project management standpoint?

Everything happened in a timely manner and major issues were dealt with. Something that really impressed me was that they always answered my phone calls. If they had another client, they got back to us shortly in 30–60 minutes. I had to manage a board of directors, a president that expected quality and had high expectations, and money from a public trust. Tenant Agency’s leadership helped me fulfill all my responsibilities.

They provided me with a project plan while we were looking at properties so we’d understand what the timeline would be after we signed a lease. Once we got a property, I’d have a project manager (other firms would disappear at that point). When Tenant Agency saw problems, they took care of them. I had confidence throughout the process that there weren’t going to be surprises, and, to the extent that there were, they were dealt with without drama.  

What did you find most impressive about them?

They own the project the way we own the project. For example, there’s an HVAC issue we’re trying to solve currently, and I can imagine other firms would’ve given us a referral to a provider. Tenant Agency came on site, helped us analyze the issue, and talked to the building management before looking for a provider. They do a lot of things that are above and beyond the point of sale. They’re our go-to people, and I won’t hesitate to call them if we ever look for space again.

Are there any areas they could improve?

I don’t have any reservations. I hope the clients they get from this review have the same experience I did.

Do you have any advice for future clients of theirs?

Don’t hesitate to hire them and give them as much information as you can, especially about your culture and needs. Be upfront if you need to pivot or they didn’t find quite what you wanted. As long as you’re a good partner, they’ll deliver.