Strategic Process

Alere Building
  • Alere Health

  • Atlanta, GA
  • 112,000 square feet

Objective

Alere Health’s Atlanta operations were currently housed in two different facilities; a high-rise office building and a one-story flex building with a total square footage of 180,000 square feet. The high-rise consisted primarily of corporate and administrative functions, the flex building incorporated call center activities.

The corporate objective was to consolidate both facilities into one and reduce overall square footage by at least 30%.

Result

  • Relocated and consolidated Alere’s operation into a Class A office building with a large floorplate allowing for increased efficiency.
  • Included lower level space at a significantly reduced rental rate for mailroom, publishing, and IT services.
  • Negotiated a favorable rental rate, aggressive concessions, and an above-market tenant improvement allowance with Tenant’s right to recapture any unused allowance, which resulted in significant cost savings in the form of cash back to the Tenant.

Total overall square footage was reduced by 38% with minimal reduction in employee headcount.

  • Coca-Cola Enterprises

  • Pittsburgh, PA
  • 20,000 square feet

Objective

We represented CCE in its current site, which was a new regional office for the Pittsburgh area in a new building. After becoming established in this market, CCE set forth an objective to significantly reduce occupancy cost which meant relocating to a different type of property.

Result

  • Relocated CCE’s operation from a Class A office building to a Class B office building in a nearby submarket.
  • Total square footage was only slightly reduced while overall rental rate was reduced by 24%.
  • We negotiated an above-market improvement allowance, which resulted in an interior environment equal to or better than in their Class A building at a greatly reduced occupancy cost.
Facet Technologies Building
  • Facet Technologies

  • Atlanta, GA
  • 23,000 square feet

Objective

Facet had recently been acquired by an out of state venture firm primarily focused on the medical industry. This acquisition dictated an office relocation. Facet has unique needs including traditional office/administrative space, lab space equipped with individual client security, and product development lab space.

The goal was to acquire space for all functions within one building.

Result

  • We introduced Facet to four alternatives that met their objective; these were quickly narrowed to two properties that best met the objectives.
  • We located Facet’s office/administrative space and lab testing space on one floor of a Class B suburban office building at an aggressive rental rate and significant concessions.
  • The product development lab space was located in the lower level of the same building at a 25% rent reduction to the primary premises. This lab space is also located adjacent to the building loading dock, resulting in logistical efficiency for this function.

Total overall square footage was reduced by 38% with minimal reduction in employee headcount.

Stonemont Building
  • Stonemont Financial

  • Atlanta, GA
  • 3,000 square feet

Objective

Stonemont was a new start up firm with a very experienced management team we had originally represented in an executive suite premises. After hiring several new partners and employees, the firm needed to relocate to larger space or a Class A office building at the most efficient rate possible. Desired layout included a couple of offices, a conference room, and a large open “trading floor” area.

Result

  • After a thorough evaluation of three submarkets, Downtown, Midtown, and Buckhead, we narrowed the search primarily to upper Buckhead.
  • We included both direct and sublease space in our search.
  • We further narrowed our focus to a subleases located in a Class A office building with prominent double door exposure to the elevator lobby. This space offered an ideal layout for Stonemont and included beautiful furnishings and high-end finishes throughout.
  • We negotiated a rental rate for our client at a rate 31% below the direct building rate and included all furnishings and a state-of-the-art data center with supplemental A/C at no additional charge to our client.
Southern Partners Fund Building
  • Southern Partners Fund

  • Atlanta, GA
  • 2,500 square feet

Objective

Southern Partners Fund was occupying office space as a subtenant in a shared environment with the Master Tenant. The Master Tenant had 2+ years remaining on its lease but needed to exit prior to its lease termination. The objective was to negotiate an early termination for the Master Tenant and relocate Southern Partners Fund to a new space.

Result

  • Negotiated a very favorable buyout for the Master Tenant – early termination fee equated to 16% of the remaining obligation and the Master Tenant vacated its space upon desired date.
  • We narrowed our focus to the existing building due to the favorable buyout for the Master Tenant and relocated to a lower floor with a turkey build out, aggressive concessions, and a rental rate that met our client’s budget objectives.