|CLIENT||Fortune 500 Company|
|PROPERTY SIZE||6,000 SF Medical Office|
|FINANCIAL BREAKDOWN||Total Savings of $428,000|
Damian McKinney and a dedicated team have managed the real estate needs for its Client, now a Fortune 500 Company, for nearly 3 decades. Operating as an outsourced real estate department and strategic partner, McKinney Advisory Group has advised the company from its humble beginnings in a 5,000 square foot office to its current portfolio of owned and leased assets accounting for almost 3 million square feet.
Our team does not outsource or franchise the real estate requirements for our clients, but rather McKinney advisors tour all locations, nationwide, to find properties to meet the client’s needs. Combining a deep knowledge of our clients’ core business with the real estate knowledge of our local partners, we maintain a consistent selection process offering significant cost and time savings to clients. Focusing on the real estate portfolio as a whole, we work closely with client’s executive team to manage their short and long term growth plans consistent with the company’s vision.
To keep up with the growing business and need for better medical services The Client required a new medical office space in a specific market with limited existing options. It was important to have an easily accessible and highly visible location with signage opportunities. Site location and budgetary concerns would greatly impact how The Client could service their clients.
The McKinney team conducted a thorough market survey and analysis of each suitable option. Following a tour with the client McKinney obtained aggressive lease terms including up front rental abatement for five months. The final lease rate was $12 per square foot per year below market rates. The landlord also provided an improvement allowance for necessary upgrades to the space. McKinney’s attention to detail and foundation in tenant representation resulted in preferred lease language for the client’s benefit. McKinney will continue to assist with enforcing these lease provisions to save client future unnecessary costs. McKinney works closely with all of The Client companies with lease administration and CAM audits each year.