Recently, I caught a few minutes of Back to the Future II, which first hit movie screens back in 1989. If it’s been a while since you’ve seen it, you might not remember how the movie predicts that we can look forward to a lot of changes in 2015, including flying cars!
I can’t remember much about my reaction to the movie 25 years ago. I was probably preoccupied with how Marty’s girlfriend from the first movie had become Elisabeth Shue in the sequel. Flying cars are everywhere in movies, from The Absent Minded Professor to Chitty Chitty Bang Bang to Blade Runner. Whenever I see one now, though, I can’t help but wonder: How does a tenant plan for parking in a world of flying cars? What are the zoning implications? Would a company’s executive team want reserved or covered air space? Should my attorney adjust my negotiating documents? More importantly, is Elisabeth Shue single?
Movies about the future may get some things wrong, but they remind us that even if you can’t predict what will happen, it’s still smart to plan for it. That’s especially true with real estate decisions. The companies that think ahead about their real estate needs tend to have the advantage. We see this every day with our clients.
Our clients that plan 12 to 18 months in advance for a lease renewal, move, sale, or purchase — or the ones that plan ahead for growth — are in a much smarter and stronger position. They provide our team with the time to explore the market, and we provide them with a realistic budget and better strategic real estate plan. It all translates into increased negotiating leverage with current and potential landlords. With the luxury of time, we’re able to secure the most favorable economics and best flexibility, whether the client renews or moves. If the client’s best option is to move, they have the time and flexibility to choose their move date and ensure that it doesn’t coincide with their busy season. The list goes on . . . .
Ready or not, the future is coming. If your current real estate situation doesn’t fit your business strategy, if your lease is up for renewal, or if you’re planning to buy or sell a building in the next 12 to 18 months, we should talk now. We may even have some thoughts on how to plan ahead for your aerial parking needs.