Represented Microsoft Corporation in lease renewal.

Challenges:

Microsoft was occupying 2 entire floors for a total of 41,210 RSF. Due to the current economic downturn and changing office landscape, the tenant was looking to downsize their office footprint and subsequently trim staff levels.

  • Meet the Tenants desire to reduce space and restoration obligations.
  • 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 space reduction restoration costs.

Results:

  • We were able to negotiate the lease renewal with a 3% per SQFT rate reduction.
  • Reduced 41,210 SQFT. (Entire 16th & 18th Floors) to entire 16th floor 17,925 SQFT.
  • Removed restoration clause upon the lease expiration for the 18th
  • Negotiated parking space fee reduction by 50%.