The company wished to consolidate 2 locations after lease expiration 3 years in the future
It wanted to control the property it would occupy as if it were the owner, but also wanted flexibility to grow, contract, renew or cancel its contract
It expected more than 10% annual compounded growth in staff
The company wanted high quality space in a single tenant new building.
Solution
The company engaged a developer to construct a new office building of the highest quality in a small urban office park
It collaborated with the developer on the design of the building
The developer took full responsibility for on-time, on-budget delivery of the building
The lease contract was an 11 year fixed rent market-priced lease
The company obtained numerous space options and preferred rights to amenities (conferencing, cafeteria and gym) in an adjacent 5-star hotel and another office building constructed by the same developer
The company obtained an unprecedented 29 options or best rights in its lease to ensure the desired level of flexibility.
