CASE STUDY / DEAL REVIEW
Oxford Agents: Chase McAteer
Summary:
We helped an oil & gas client relocate their offices from downtown to the City Centre area. They were able to downsize their office footprint, completely eliminate staff parking charges, and capture significant rent savings during this move.
| Property Type: | Class A Office |
| Tenant Industry: | Downstream O&G |
| Size: | 7,614 SF |
| Submarket: | Katy Freeway East |
| Transaction Type: | Relocation |
| Free Rent: | (8) months fully abated |
| Tenant Improvements: | $15psf – $114k |
| Additional Credits/Reimbursements: |
Option to convert $4.50psf allowance to cover other soft costs. Additional option to convert up to $38k unused allowance for rent credit. |
| Negotiated Discount (%): | 15% |
| Parking: |
Unreserved parking abated for 2 years, three reserved parking spaces in the parking garage. |
| Other deal points worth mentioning: | ROFR for expansion into adjacent 4,000sf space. |
| Renewal Option: | Yes |
| Right of First Refusal: |
Yes |
Chase McAteer
(904) 874-5822
cmcateer@oxfordcres.com