Surf Companies 52

EXPANSION FLEXIBILITY

A major advantage that Surf Management offers, that no other local landlord can match, is tremendous flexibility to expand, even before the initial lease term has ended. As one of the largest property owners in the South Bay, Surf Management has more suites available for immediate expansion than any other local company. There usually are numerous sizes and configurations available for expansion at a given time. A tenant that rents from a smaller landlord may end up in a very undesirable situation. If this tenant needs to expand, and their landlord does not have suitable expansion space, this tenant has four options. First, it can wait
until its lease ends before moving to another building with a new landlord. Second, it can lease another building with a new landlord before the original lease term is over and sublease its original building. Third, this tenant may decide to operate out of two different buildings with two
different landlords to accommodate their growth until a consolidation can be accomplished. Fourth, it can simply wait for space to come available with their current landlord. All of these options are either inefficient or expensive. Surf Management tenants do not face the same difficult choices. Our tenants who need more space will usually expand into adjacent space if it is available. If it is not possible to expand into the space next door, there is usually available space which will accommodate their needs in the same building or same business park. If this is unavailable, or if the needs of a company change, Surf Management tenants are allowed to relocate to one of their numerous other locations, if it is a "win-win" situation. The risk of
subleasing their original space does not become the responsibility of the Surf Management tenants under any of these scenarios. Their expansion occurs with a minimum of disruption and expense. Many of the tenants who have expanded with us had no idea that they would be needing additional space when they signed their original lease. Their rapid growth was not anticipated. Having the flexibility that Surf Management offers was very helpful in keeping their operation efficient and profitable as their business grew.