CASE STUDY / DEAL REVIEW
Oxford Agents: Chase McAteer
Summary:
We are pleased to announce a recently closed transaction for one of our returning clients. Their current landlord offered no free rent and a modest rate reduction for their renewal. We toured the market and secured multiple relocation offers which could beat the landlord’s deal. Despite this fact the landlord would not improve their offer and our client decided after 10+ years to relocate their offices. They secured a nicer space in a comparable location for a better rate and the first 8 months of rent free.
| Property Type: | Class B Office |
| Tenant Industry: | Waste & Recycling Management |
| Size: | 3,700 SF |
| Submarket: | Northwest Far |
| Transaction Type: |
Relocation |
| Free Rent: | (8) months fully abated |
| Tenant Improvements: | Turnkey, estimated $20psf |
| Negotiated Discount (%) | 21.4% |
| Parking: | 3.5/1,000 ratio, no charge for unreserved, reserved at $50/month – Tenant provided with (3) reserved permits |
| Renewal Option | Yes |
| Sublease Rights: | Yes |
Chase McAteer
(904) 874-5822
cmcateer@oxfordcres.com