“You guys were both very responsive and proactive to make this happen, and we very much appreciate it.”
Ward and Smith, P.A. had subleased a portion of their West Raleigh Class A office space and then COVID abruptly hit. With this, the Subtenant was forced to go in a different direction and the need for subleasing space returned. RCR had been proactively reaching out to Ward and Smith, P.A. and was granted a meeting. After multiple Zoom calls, RCR secured a sublease listing agreement during a time when office leasing activity was down 56% year-over-year.
RCR immediately went to work and in the first week of hitting the market, secured tours from two prospects! RCR met with both prospects and advised Ward and Smith, P.A. on which firm was the best fit. Discussions started and RCR was able to negotiate attractive deal terms including a higher rental rate and additional securitization than the previous deal. RCR also managed the approval process with the Prime Landlord and approval was granted earlier than expected. Once the sublease was approved, the new Subtenant occupied the space within two weeks.