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.