SoundRock’s Commercial and Industrial Division

This division handles the leasing of both Commercial and Industrial properties which would include the following elements:

• Showrooms
• Offices
• Warehouses
• Factories
• Hotels
• Hospitals
• Unique Developments

SoundRock specializes in new developments. Most of their tenants commit to a lease while the site is still in the planning phase. This has the advantage of enabling the tenant to be very specific as to their needs before the development is built. It also ensures that the Landlord will have a predictable cash flow and assured profit before building even commences.

The key ingredient in favour of SoundRock’s Commercial and Industrial brokerage Division is creativity!

There is no rigid formula for putting together the ideal tenant for a specific landlord. A landlord may or may not have a clear idea of the kind of tenant he would prefer. The tenant may have only a vague concept of what locations are available.

It very often takes a leasing broker to see the potential connection between a planned development and a specific tenant. At SoundRock all its staff are encouraged to ”Think out of the box” and be really creative in their ability to put together an idea that appeals to both the landlord and the tenant.

SoundRock’s brokers frequently conduct surveys to ensure the needs of both landlords and tenants. Too many important decisions are made on the basis of hearsay and assumptions. Surveys, correctly applied, obtain invaluable data on the majority viewpoints and attitudes of the target area or market.

To take an obvious example, there is no point in locating a hospital where it is relatively inaccessible for the majority of its target population.

SoundRock performs a true broker’s function in that it uncovers by means of a survey, research and general enquiries, the exact needs of the Landlord and then the exact needs of the tenant. They then match up this data to the most ideal landlord/tenant combination.

Only then does the broker introduce the tenant to the landlord’s development site as well as architectural drawings. If the tenant likes the site the following steps are then followed by the SoundRock broker:

• Obtain tenant’s intent and commitment to the site
• Facilitate specs and designs
• Facilitate costings
• Negotiate suitable rental
• Sign up lease agreements
• Maintain an on-going service of both landlord and tenant

SoundRock acts primarily in the interests of the landlord but a key part of that interest is the need for a satisfied tenant that knows they are located at the best possible site, are paying a fair rental for their premises and are well serviced by the landlord’s amenities.

Until now the majority of SoundRock’s landlords have been acquired through word of mouth. As the company continues to expand, landlords are invited to contact Managing Director Mark Berman, who will give them a detailed briefing on the numerous advantages of working with SoundRock.

Once SoundRock has a mandate to lease the landlord’s development, the file is handed over to the Manager of the Commercial and Industrial Division, who then begins the process of matching suitable tenants to the proposed site.

Another advantage of commissioning SoundRock to either find suitable tenants or on occasions to find a suitable landlord’s development for a tenant, is that the due diligence is performed by SoundRock.

The status of every landlord as well as each development is thoroughly researched. Thereafter every tenant is checked for financial stability and long term ability to sustain their rental obligations. Tenants with a long history of conflict with landlords are not invited to apply for space. The considerable flow of financial documents between both parties is facilitated by SoundRock. The tenant’s bank manager is often asked to provide a stream flow analysis, enabling the landlord to predict whether the tenant is likely to be able to maintain rental payments over an extended period.

SoundRock’s vetting process endeavours to eliminate any potential for misunderstandings and conflict between landlord and tenant. On the occasion when a problem does arise, SoundRock’s brokers are always available to mediate and defuse the situation.

There are many variables in the leasing of Commercial and Industrial properties. It is not possible to eliminate every difference of opinion but SoundRock does strive to create the best possible communication between landlord and tenant, so that any remaining disputes are small and easily resolved.