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Real Estate Portfolio Management / Lease Administration / Suite Analysis

Suite Analysis Process Overview

The Suite Analysis process enables you to develop a suite inventory that includes a suite's associated leases, so that you can track, manage and analyze your suite data. You can view suites by leases to compare actual areas against negotiated areas, compare total floor area to total suite area to find missing rentable area, locate suites with leases that are about to expire to warn of upcoming lease renewal, move, or brokerage needs.

From Web Central., the Suite Analysis process includes suite reports. Some of the reports highlight your floor plan drawing, while other require only an alphanumeric suite inventory See Suite Reports.

From the Smart Client, in addition to the suite reports, the Suite Analysis process has tasks that enable you to review unaccounted suite area, to draw suites (used by your CAD specialist), and to develop the suite's associated lease data using grid views. Grid views are an efficient way to work when doing bulk data updates.

Procedure for Creating a Suite Inventory

Developing a suite inventory includes the following steps:

1. Develop background data for your locations: If you have not developed your space and geographic locations using another ARCHIBUS application, you can do so using the Lease Administration's Background Data task. See Background Data.
2. Develop your lease data. There are several methods:
   • From the Smart Client, use the Define Leases task, a grid view that is an efficient way to bulk update data. See Define Leases.
   • From Web Central, you develop lease data and associate leases with suites. You can add additional lease data, such as base rents, options, clauses, and amendments. using the Lease Administration/Lease Portfolio/Add/Edit Wizard, or the Add/Edit Complete tasks. See Add /Edit Overview and Entering Lease Information.
3. Develop your suite inventory:
   • From the Smart Client:

• Define Suites by Leases: Associate suites with the leases you have defined. This creates an alphanumeric record in the database. See Define Suites by Leases.

• Draw Suites: Optionally, your CAD specialist can use the ARCHIBUS Smart Client Extension for AutoCAD or the DWG Editor to create suite asset symbols. See Draw Suites. and Graphically Documenting Leased Areas.

• From Web Central, use the Add/Edit wizard to define suites. See Enter Suite Information.

4. After developing a suite inventory, if you have developed a Building Performance CAD inventory that includes a floor's gross internal area, vertical penetration areas, and service areas, you can:
   • View Unaccounted Suite Area: Use this task to see portions of the floor that are rentable but that are not currently being charged to any lease.

   See Building Performance Inventory (Process Overview).

5. For both an alphanumeric and a CAD suite inventory, you can generate suite reports.

Suite Reports

Available from both Web Central and the Smart Client, Suite reports enable you to review suites that are currently vacant,and suites that have leases that will expire during a specified time period. For example, you can view vacant suites on your floor plan drawings to identify adjacent vacant areas suitable for departments with expansion needs. Some of the reports highlight your floor plan drawing, while other require only an alphanumeric suite inventory.

See Suite Reports.

Graphically Documenting Leased Areas

In the Suite Analysis process, you have the option to develop suites to graphically document leased areas using the Draw Suites task. Not all users require this level of detail; for some users, an alphanumeric inventory of lease data and its negotiated areas is sufficient.

You may want to graphically depict leased areas with suites for the following reasons:

• By graphically depicting leased areas, you can generate accurate area figures that reflect the true dimensions of your leased areas; these areas are known as measured areas.
• Comparing measured areas to negotiated or estimated areas agreed upon in a lease document can indicate leases that should be renegotiated.
• You can use suite drawings to find vacant areas and upcoming vacancies.
• Suite drawings aid brokers in illustrating the space available to prospective tenants and aid architects in drawing up fit-out plans.

Additionally, if you choose to track performance information with your suites, you can do the following:

• You can find "unaccounted" areas—portions of the floor that are rentable but that are not currently being charged to any lease.
• You can use measured suite rentable areas to charge back accurately prorated building and property costs to your leases. See Chargeback Cost Wizard: Overview.