April 16, 2012
Marketing Supplement to Ottawa Business Journal
Primecorp Commercial Realty Inc. Brokerage
Tenant lease negotiations require specialized expertise
"Primecorp's Bruce Wolfgram levels the playing field for tenants"
When the time comes to renew a lease, commercial tenants often fail to appreciate the leverage they have to negotiate better terms from their landlord.
Considering that real estate costs are typically a business’ second-largest expense after payroll, it only makes sense to shop around, said Bruce Wolfgram, Vice-President and Office Leasing Broker with Primecorp Commercial Realty.
“Many tenants think they have no choice other than to simply renew at whatever terms their landlord offers,” said Wolfgram. “They don’t realize how attractive they can be to other landlords.”
Primecorp is an Ottawa-based commercial real estate brokerage and consulting firm specializing in all major areas of commercial real estate, with regional and affiliate offices across the country. Wolfgram, who has represented commercial tenants for 25 years, leads Primecorp’s Tenant Representation Group, which works exclusively with tenants as their advocate during lease negotiations.
“We work to level the playing field between tenants who look at their lease once every five to 10 years and landlords who negotiate leases daily,” said Wolfgram. “Tenants can’t afford to overlook the benefits of professional representation when hundreds of thousands of dollars can be at stake.”
Primecorp has built a strong reputation in the industry as a trusted advisor for the long-term with its experience, professionalism and honesty. This is best demonstrated by its significant volume of recurring and referral-based business. In fact, Wolfgram has clients who have worked with him on four consecutive lease renewals. Primecorp also goes beyond the terms of a lease to help clients connect with interior design resources to improve the fit and functionality of their space.
As a brokerage, Primecorp’s representation services are typically at no cost to the tenant. All that tenants have to do is take the step to look at their lease situation proactively – a process that should begin at least a year before their renewal.
“We know the market trends and the inside stories about available space, upcoming vacancies and the terms that were offered to previous tenants,” said Wolfgram. “We understand each client’s business and how to control occupancy costs to benefit our clients’ bottom lines. However, for our process to work, we need to look at your needs and shop the market far in advance of your renewal date.”
To learn more about how Primecorp can help you get the best value for money, please visit www.primecorp.ca or call Bruce Wolfgram at 613-722-2020 ext. 233.
“Ramius has engaged Bruce Wolfgram and the Primecorp team numerous times over the years. We’ve relied on their real estate expertise, their negotiating abilities, and their honesty. Whether we’ve needed to renew our lease, relocate to a new building, or sublease excess space, Primecorp has always protected our interests and exceeded our expectations in a first-class manner.”
— Alfred Jay, Founder, President & CEO, Ramius Corporation
“We engaged Primecorp when our 90,000-square-foot Ottawa facility was nearing the end of its last lease term. After thoroughly investigating our needs, Primecorp conducted many steps on our behalf including searching out all external building alternatives, helping review our existing space layout, reviewing clauses in our existing lease for areas of improvement, and ultimately negotiating a new 10-year renewal for us with less space and improved lease terms. Thank you, Primecorp.”
— Chris Lawler, Vice President, Operations, Esterline - CMC Electronics Inc.
PHOTO ABOVE: Left to right: Chris Turvill, Johanna Oakley, Scott Lavergne, Melanie McLaughlin, Ansley Thornton and