Lease Renewal Services – Tenant Representation
Index Computer Remarketing, Inc.
SERVICES
Strategic Renewal/Relocation Planning (SRRP) is a system designed by The JC Commercial RealtyTeam. This system was used for Index Computer Remarketing, Inc. to provide lease and purchase alternatives with an initial goal to reduce overall occupancy costs.
SITUATION/PROCESS
- Index Computer Remarketing has been a long time incumbent tenant of the world’s largest industrial landlord. Being an incumbent tenant placed Index at a big disadvantage each time their lease renewal came up. Index’s rental rate had increased slightly over several years while equipment like air conditioning continued to age.
- For the fourth consecutive time, The JC Commercial Realty Team was engaged about fourteen months prior to lease expiration. Following the engagement, a formal proposal for early renewal was requested from the incumbent landlord.
- A countywide property search was conducted and subsequent property tours were scheduled in order to deliver the desired message to the market.
- Subsequently, a detailed Request For Proposal (RFP) was sent to comparable landlords. Favorable deal terms were negotiated with alternative landlords.
- Once satisfactory deal terms were achieved outside the incumbent landlord, negotiations started with the existing landlord to ascertain their interest in keeping their long term tenant.
RESULTS
The Strategic Renewal/Relocation Plan was implemented to create Real Market Leverage for the client. In four renewals over a twenty year period, Index Computer Remarketing enjoyed significant occupancy savings of over $250,000.00 which included rent reductions, free rent and a market tenant improvement package with the added bonus of no business interruption.
Contact us and see what the power of exceptional market knowledge, anticipation and preparation can do for you!
Call 954-418-7198
