When I initially approached Clark Construction, they had approximately 14,000 square feet, 4 years left on their lease and in a long term broker relationship with Saville/Studley.

I offered to review the Clark lease and after careful examination discovered two important facts: 1. Clark’s rental rate over the remaining lease term was approximately 25% higher than the current market; and 2. Clark had a termination right in their lease. Following some detailed financial analysis, I advised Clark that they should effectively terminate their lease, pay the termination fee and attack the market…knowing the break even payback period on the termination fee would only be 14 short months!  And that is exactly what we did!

Clark’s needs quickly outgrew their space and we subsequently negotiated a 20,000 square foot, 10 year lease with the new landlord, American Realty Advisors.  The concessions we ultimately attained, following initial proposals to us, amounted to over $1.75 million, comprised of an above standard tenant improvement allowance, abundant rent abatement, a long free parking period and building top signage.