CASE STUDY / DEAL REVIEW
Oxford Agents: Chase McAteer & Vincent Vega
Summary:
Oxford Partners had the opportunity to represent a law firm in the Galleria area for their recent lease renewal. We used the current tenant’s market and our knowledge of recently closed deals in the area to secure a lower base rent, 4 months of upfront abated rent on a short term lease, a tenant improvement allowance to pay for needed security installations, and the flexibility to use any remaining allowance as a credit for their rent. We also decreased the monthly cost for their storage spaces in the building. Our client was more than happy with the end results – it’s a great feeling to help our client’s keep more of their money in their pockets for their business instead of for rent!
| Property Type: | Class A Office |
| Tenant Industry: | Law Firm |
| Size: | 2,080 sf |
| Submarket: | Galleria |
| Renewal/Relocation/Purchase/Sale/New Location: |
Renewal |
| Free Rent: | 4 months |
| Tenant Improvements: | $5 PSF |
| Negotiated Discount: | 20% |
| Renewal Option: | Yes |
| Right of First Refusal: | Yes |
| Sublease Rights: | Yes |
Chase McAteer
(904) 874-5822
cmcateer@oxfordcres.com
Vincent Vega
(713) 575-2471
vvega@oxfordcres.com
