An office relocation is one of the most complex operational decisions a business makes. Done well, it improves culture, productivity and lease economics. Done poorly, it disrupts operations, overruns budget and locks the organisation into the wrong space for the wrong term. This checklist covers every major decision in the right sequence.
18–24 Months Before Expiry: Strategy
Assess your current lease obligations, your expansion or contraction needs, and your target market. Decide whether you are renewing, relocating or restructuring your existing lease. Engage a tenant representative — not a listing broker — who works exclusively on your behalf. The landlord's broker does not represent your interests.
12–18 Months Before Expiry: Search
Define your space requirements precisely: square footage, configuration (open plan vs cellular), parking ratio, amenities and budget. Shortlist three to five options in your target market. Inspect each and assess the landlord's financial stability, building management quality and co-tenant mix.
9–12 Months Before Expiry: Negotiate
Issue requests for proposal to shortlisted landlords. Compare proposals on a net present value basis — headline rent, TI allowance, free rent, operating cost caps and option to renew all affect the economics. Negotiate simultaneously with multiple landlords to maintain competition. Never negotiate exclusively with one landlord until you have signed heads of terms.
6–9 Months Before Expiry: Commit
Execute the letter of intent. Engage your lawyers and space planners. Finalise the lease document — pay close attention to permitted use, assignment rights, renewal options, demolition clauses and operating cost definitions. These terms affect your flexibility for the entire lease term.
3–6 Months Before Move: Plan
Procure your fit-out contractor, telecommunications provider and movers. Notify staff, clients and suppliers. Coordinate lease start date with fit-out completion date — you do not want to be paying rent on two spaces simultaneously.
Lucero's Role
Lucero provides tenant representation for qualifying office occupiers in Toronto, Calgary and suburban GTA markets — including space identification, landlord negotiation and transaction execution.