Alturas Value Creation System for Tenants
Written by Brent Carnduff | November 7, 2019
We recognize that our most valuable assets are the relationships and partnerships we cultivate with brokers, investors, and tenants. To that end, we've been very deliberate about creating and documenting our processes for working with our partners. These systems provide for win-win opportunities and pave the way for long-term relationships.
In the commercial real estate industry, it is not uncommon to find landlord - tenant relationships that are adversarial in nature. Our goal is to take a different approach, implementing the following principles to work with our tenant-partners. We call it . . .
The Alturas Value Creation System for Tenants
We strive to be kind, friendly, collaborative problem solvers. We commit to provide prompt and timely service to any maintenance or repair requests so that your business can continue to operate with minimal disruption.
- Following lease signing, we work with the property manager to coordinate access to the space and tenant improvement build-out so you are not delayed in getting into your new space.
- We attempt to respond to any tenant communication within 4 hours (24 hours maximum).
- If you have a maintenance need, we aim to have a technician/contractor on-site within 48 hours.
Our goal is to create spaces where your business can thrive. To further this goal, we readily invest in common areas, landscaping, signage, facades and other improvements to elevate and enhance our properties.
- We make property upkeep a priority while also working to keep CAM expenses down.
- We have an in-house property management team and offer a hands-on approach to maintenance and repairs.
- We understand the importance of investing in tenant improvements which in turn creates effective and profitable space for our tenant-partners, which is our end goal.
We understand that the success of our business is dependent on the success of our many tenant-partners. As such, we strive for win-win outcomes and enjoy creating value and sharing it with our tenant-partners.
- We allow tenants to invest in the projects that they occupy. This allows you to benefit from the value that your lease creates and capitalize on the advantages of real estate ownership while not taking on all of the risk, capital commitment, or management headache.
- When working with a tenant ahead of time (tenant-in-tow), we can acquire a property for a lower price and pass along those savings to the tenant in the form of a reduced lease rate, a higher TI allowance, etc.
- In certain build-to-suit situations, we can provide bonus compensation to the tenant-partner upon the sale of the asset if we hit certain return thresholds.
Our business model is built on long-term partnerships. We seek relationships that are built to last and grow over time. We believe that this is the most effective and profitable way of doing business for everyone.
- As one component of this, we emphasize the importance of lease renewals as the stability created is good for both you and us. We want the renewal process to be as smooth and stress-free for you as possible.
- Further, as tenants grow, we want to be their real estate partner, helping to either accommodate that growth at their current location or help them find and even develop new locations.
Check back for new articles outlining examples of how this process plays out in our day-to-day business dealings, or subscribe to our blog to have new articles delivered to your inbox.
To learn more about partnering with Alturas Capital Partners, download our Acquisition Criteria.