QUICK FACTS:
Expansion Required
Hostile Landlord
Off-Market Option
SIZE:
6,500 SQ. FT.
SERVICES:
Occupier Services
CHALLENGE
Crawford Adjusters needed to expand its operations at their head office on Riverbend Road so had approached the landlord of a building across the street to discuss leasing space. The landlord thought Crawford had no other options so proposed rental rates that were considerably above market.
SOLUTION
The Occupier team was asked to intervene on the tenant’s behalf and received a cool reception from the landlord who had no interest in negotiating the terms of their original proposal or paying a real estate fee for a deal they thought was all but done. In response, the Occupier Team literally knocked on the doors of tenants in the area to see if there were any off-market opportunities available.
RESULTS
An ‘off market’ sublease option was quickly identified that provided fully furnished space in a more convenient location and the Occupier team negotiated financial and strategic terms that allowed the tenant to expand on time and under budget.
