Fischbach Tenant Representation, formerly Office Enterprise, Inc., has committed to exclusive tenant representation in leasing transactions. The firm also offers related services to tenants like space planning and insurance.
Office Enterprise, a regional commercial real estate firm, has changed its name to Fischbach Tenant Representation and restricted business to exclusively serving tenants.
“Our main business will be representing tenants to landlords,” said Peter Fischbach, owner and founder, “and we also provide other tenant services like space planning and insurance.”
“In all cases,” he emphasized, “we only represent tenants, never landlords or sellers.”
Fischbach said that exclusive tenant representation is unknown in the Tampa Bay area. In most cases tenant representation is done by someone in a firm that may also represent landlords as a leasing broker. This obvious conflict of interest is always going to work to the detriment of the tenant, according to Fischbach.
In commercial real estate leasing transactions, tenant representatives apply their market expertise to make sure prospective tenants are seeing the best and most compatible space available. Additionally, they represent the tenant to the landlord in lease negotiations.
Tenant representatives are paid a portion of the leasing broker's commission and hence provide services that require no out of pocket expense from the tenant.
Through associations with other professionals, Fischbach is offering related services that potentially lower tenant occupancy cost.
“That is our goal,” said Fischbach. “We are here to help tenants find both occupancy satisfaction and occupancy savings.”
Inattention to space planning, according to Fischbach, is the biggest error tenants make when signing a new lease. In addition to extensive space planning consultation, Fischbach Tenant Representation offers the expertise of Cornell-trained architect, Tang Fang. In certain instances, Fang can even provide working drawings in concert with landlord improvement incentives.
Fischbach Tenant Representation will offer clients insurance, specialized auditing and business brokerage.