OVERVIEW
RCR proactively contacted NCSEA after hearing that a lease expiration date was rapidly approaching and knowing the market conditions in the area had changed dramatically of recent. NCSEA took a meeting with RCR and disclosed that the lease was expiring within nine months and their intent was to extend the current lease. Having worked with a full service commercial real estate agency in the past, NCSEA was intrigued by RCR’s tenant rep only focus, thus eliminating any potential conflicts of interest. RCR quickly went to work, abstracting the current lease, creating leverage through creating a survey with alternative viable options and scheduling tours, all within one week after being officially hired by NCSEA.
RESULTS
In addition to buildings owned by other landlords, RCR toured NCSEA through other potential relocation spaces in buildings owned by their current landlord, thus demonstrating that NCSEA was out in the market and exploring all options. Simultaneously, RCR submitted an RFP to their landlord for their current space. Using this created leverage, RCR was able to negotiate a fair market rental rate, an above market tenant improvement allowance, monument signage and a refund of their security deposit. In fact, RCR negotiated that NCSEA could use a portion of their tenant improvement allowance for other items including furniture, fixtures, equipment and electric car charging stations.