CASE STUDY / DEAL REVIEW
Oxford Agents: Ryan Hartsell
Summary:
We were able to help a client who needed to renovate their office layout while also considering a relocation. We negotiated an aggressive deal with an alternative landlord, which resulted in a lease renewal that was 30% lower than the landlord’s initial offer. In addition to rental discounts, we were able to negotiate 1 year of free rent, a convertible tenant improvement allowance and 6 months of prior rent forgiveness.
| Property Type: | Class A Office |
| Tenant Industry: | Engineering |
| Size: | 13,256 SF |
| Submarket: | West Belt |
| Renewal/Relocation/Purchase/Sale/New Location: |
Renewal |
| Free Rent: | 12 Months Free |
| Tenant Improvements: | $20 psf |
| Negotiated Discount: | 30% |
| Parking: | Free |
| Sublease Rights: | Yes |
Additional Credits/Reimbursements:
$10 psf of unused TI may be converted to free rent ($132,560 rent savings) and took back 3,500 sq ft 6 months early ($35,000 rent savings)Other Rights worth mentioning:
Landlord installed a brand new HVAC system for the tenant at the sole cost of the landlord
Ryan Hartsell
(281) 923-5660
rhartsell@oxfordcres.com
