Laukka Development – Lease Renewal

Laukka Management – 4,925 sf

The Situation:

  • One of the twin cities largest residential apartment and town house property management companies wanted to renew their office space.
  • The owner did not have time to gain knowledge of the marketplace and was looking for assistance.

The Approach:

  • Discussed in detail the short and long-term desires of Laukka Management by meeting with the owner’s representatives and defining their space needs.
  • An approach to leverage our market knowledge was put in place by conducting a comprehensive search of all office lease options within the geographic boundaries provided by the management team.

The Solution:

  • We received three lease proposals based on all the alternatives we toured.
  • We prepared a lease analyses for the owners review with the existing lease renewal proposal along with the competition so we could clearly see the differences.
  • Two of the competiting lease proposals provided substantial savings compared to what the existing landlord was offering.

The Result:

  • Laukka Management took advantage of a “tenants market” and renewed their lease with substantial savings and signed a long term lease adding savings to their company’s bottom line.

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