Excel Engineering – Lease Relocation

Excel Engineering – 15,528 sf

The Situation:

  • A well established utility and electrical engineering company was expanding and wanted a better class office building to relocate their business.
  • Excel had tight budget constraints that would make their relocation a challenge.

The Approach:

  • A facility that was owned by a national REIT (Real Estate Investment Trust) company had a long-term office vacancy that they wanted leased. They were very motivated to lease the space.
  • A lease proposal was generated on the space from the landlord and we started the negotiation process.

The Solution:

  • Our client was able to expand 5,000 S.F. of additional office space and stay below their estimated budget assumptions.

The Result:

  • Excel Engineering signed a long term lease and relocated to the new office facility. We were able to save them a considerable amount of money on rent. Excel signed a long term lease taking advantage of a “tenants market”.
  • We were able to achieve a lease termination option, substantial free rent, a moving allowance, and a hefty tenant improvement package.

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