Accounting/consulting firm expansion
  • Location: Raleigh, NC
  • Size: 18,100 SF
  • Type of Project: Accounting & Consulting Firm

Situation

  • A national accounting and consulting firm occupied ±9,906 sf and needed to expand. The client’s current landlord was not able to accommodate their request.
  • Five years remained on the client’s current lease term.
  • Client needed to provide renewal notice by November 30, 2026.

Challenges

  • Finding a landlord who would offer a market deal and offset the current rent obligation.

Results

  • Created leverage in the market with name and credit to the tenant to obtain an ±18,100-sf space in Downtown Raleigh.
  • Negotiated two years of rent off-set from new landlord.
  • Signed a 138 month lease with six months of rent abatement, $40 TI allowance and landlord provided tenant with rent reduction equal to the rent obligation at their current location for 28 months.
  • The Occupier Solutions Team was able to sublet their space immediately upon move out, saving the tenant the rent obligation through the term and receiving an offset for 28 months.
  • New location offered recruitment / retention for their employment base.
  • Client savings of $1,563,000.