Represented Microsoft Corporation in lease renewal.

Challenges:

The 9,216 sq. ft. industrial/flex-space building was custom-built out and used primarily for Microsoft’s Xbox group to feature their new products in an environment specifically designed for exhibition to online influencers, professional athletes, and celebrities. The following were the conditional challenges:

• Meet the Tenants desire to reduce building maintenance and repair responsibilities that were agreed upon while being represented by their prior broker.
• Work with the property owner, a licensed broker, in a way that he would see and accept the current market conditions and landlord concessions when negotiating a lease renewal.
• Show the financial benefits and security of retaining a Fortune 100 company as a tenant.

Solutions:

Utilizing our experience working with corporate occupiers and their specific needs, we were able to determine their space needs, security concerns and time constraints.

We secured terms that were exceedingly beneficial to the tenant allowing them to focus more on their core business and not have to spend  time and expense on building maintenance and repairs.

Results:

• We were able to negotiate the lease renewal with a 5% per SQFT rate reduction.
• Removed onerous building maintenance, HVAC maintenance and roof maintenance and repair lease clauses.