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Turner Drake & Partners Ltd.
6182 North Street
Halifax, N.S.
B3K 1P5
Canada

Tel.: (902) 429-1811
Toll Free: (800) 567-3033
Fax.: (902) 429-1891

Suite 221
12 Smythe Street
Saint John, N.B.
E2L 5G5
Canada
Tel.: (506) 634-1811

Suite 11
109 Richmond Street
Charlottetown, P.E.
C1A 1H7
Canada
Tel.: (902) 368-1811

35 York Street
St. John's, N.L.
A1C 5M3
Canada
Tel.: (709) 722-1811

4th Floor
111 Queen Street East
Toronto, ON.
M5C 1S2
Tel.: (416) 504-1811

E-Mail: tdp@turnerdrake.com
Internet: www.turnerdrake.com

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Brokerage (Sales & Leasing)


Leasing


We act for landlords and tenants, assisting them through the property leasing or space renting process from conception, initialisation, fulfillment and, in the case of landlords, asset management. Our primary focus is industrial, office and retail space, located in the Halifax Regional Municipality (HRM). Because of the breadth and depth of our six consulting divisions, we can bring considerable property expertise to bear: Valuation & Appraisal, Lasercad® Space Measurement, Economic Intelligence, Property Tax, Planning and Counselling. Our Economic Intelligence Unit can provide market surveys, site selection, trade area analysis and demographic studies to aid in the location decision. Our Lasercad® Division can assist in space planning and certify the usable or rentable areas to the appropriate BOMA/SIOR standard. Our Brokerage Division is able to draw on these resources to reinforce their own strengths: knowledge of the marketplace, marketing and negotiation. All of our staff are salaried professionals; the product of our own seven year training program. They work as a team, building long term relationships with clients, some extending back over the forty plus years we have been in business.

Tenant Representation

Tenant Representation occurs when the tenant retains us to act on their behalf to locate suitable premises for rent, negotiate lease renewals, sub-lease, restructure their existing lease or negotiate a lease buy-out. Since we act as the tenant's agent we are legally and morally obligated to act in the best interest of the tenant: however our broker's fee is usually recovered from the landlord.

Our Brokerage Team have access to details on virtually all of the office, industrial and retail space available for lease. Most leasing is undertaken on a co-operative basis: landlords or their leasing brokers actively pursue a policy of providing details on space availability, rents and operating expense recoveries to commercial real estate brokers such as ourselves. This industry practice ensures that tenants represented by a commercial real estate broker will have access to virtually all of the space available… and provided that they are so represented, will be able to compare and select the rental space that best meets their budget. It is usually more cost effective for a landlord to deal with a knowledgeable commercial broker representing a qualified potential tenant than spend time educating a party who may be just a “tire kicker”. In addition, some premises are available on a "sub-lease” basis at a discounted rent.

Our Tenant Representation Agreement is straight forward: unambiguous yet well documented it details our obligations to our client, the tenant. We (1) review our client’s space requirements and budget, (2) locate suitable premises, (3) prepare specifications based on our client’s broad requirements and circulate them to landlords, (4) obtain proposals from landlords, (5) analyse and prepare recommendations, (6) prepare and submit Offers to Lease and then negotiate acceptable lease terms.

Landlord Representation

Landlord Representation occurs when the landlord retains us to lease vacant office, industrial or retail space, undertake pre-leasing, lease renewals, sub-lease, restructure existing leases, or negotiate lease buy-outs. In order to obtain the highest possible rent, and/or the most advantageous terms for the landlord, it is necessary to (1) reduce the risk of the transaction to the tenant to the greatest degree possible by creating scale plans they can utilise for their space planning, (2) certify the usable and rentable areas to the appropriate BOMA/SIOR standard, (3) price the space appropriately and, (4) expose the premises to the largest number of qualified, potential tenants.

Where necessary our Brokerage Team is able to draw on the support available from our Lasercad® Space Measurement Division to create the scale plans and certify the usable and rentable areas. The tenant's space planner can utilise our plans to "lay out" their prospective operation and demonstrate in concrete terms how it will "fit" into the premises. Our Brokerage Team can also call on the resources of our information technology platform CompuVal®, and their own knowledge of the marketplace, to assist the landlord determine the market rent. CompuVal® is a leading edge IT platform which acquires and combines property data including rents, common area maintenance, and realty taxes, from multiple sources to give us a comprehensive insight into the regional rental marketplaces. CompuVal® is proprietary to Turner Drake. Our Brokerage Division has developed a structured marketing program to identify, acquire and qualify potential tenants and to expose premises to the widest range of potential tenants. It combines our professional staff’s personal knowledge with CompuVal's® data acquisition and analytical capabilities. Our Brokerage Team are the product of our own seven year real estate training program which includes negotiation as a defined skill set.

We provide the following tools to expose the property to the widest audience of qualified, potential tenants:

1.

Company contacts - our various Divisions conduct assignments on a daily basis for business clients throughout North America. We have built relationships with them, many of which extend back to 1976, the date of our incorporation. We have cemented these relationships through a quarterly Newsletter with a circulation of about 20,000


2.

Computerised databases - in addition to our Newsletter, our CompuVal® Knowledge Base tracks tenants by space type, size and time requirement e.g. office, warehouse, retail, etc., for target marketing purposes.

3.

Internet - we utilise multiple web sites. www.turnerdrake.ca, our dedicated property brokerage web site, is advertised on our On-Site Signage. www.turnerdrake.com, our corporate web site, is a resource centre for clients utilising our entire range of services. Both web sites are linked, as is www.turnerdrake.net, our dedicated property tax web site. Where appropriate we will also list the property on the Multiple Listing Service® via nsar.paragonrels.com, the Nova Scotia Association of Realtors internal web site used to distribute listing information to its members, and www.realtor.ca the Canadian Real Estate Association's MLS® site.


4.

Other Brokers - To further expand our marketing reach we establish a co-broker network and have carefully structured our leasing commission so that it is “broker neutral”; we get the same fee whether we lease the property with the aid of another broker or directly ourselves. Since we have no incentive to “double end” the commission our objective is directly aligned with that of the lessor… to get the property rented! We cheerfully and actively co-operate with the other real estate brokers. We are extremely pro-active and unless there are confidentiality constraints, actively co-broker at the outset of our marketing program.

5.

Multiple Listing Service® - while we are one of the few commercial brokers who belong to the Nova Scotia Association of Realtors it has been our experience that their MLS® is not a particularly effective way of achieving market exposure for rental properties; however it should not be discounted given that the listings are now rebroadcast on other brokerage web sites such as Viewpoint Realty Services Inc.


6.

On Site Signage – we provide and install “For Lease” signage on the property at our cost.


Properties for Lease

We currently have the following properties listed for lease here or if you wish, you can visit our dedicated property web site and view the same properties listed for lease there. They, and property listed on other commercial brokers’ web sites, represent only a small sample of the space available for rent, much of which is not listed at all with a specific broker but is circulated to commercial brokers such as ourselves each month by the property manager. Contact our Brokerage Team for the bigger picture.