fortune-500-San Antonio-TX-LRG
CLIENT Fortune 500 Company
LOCATION San Antonio, TX
SERVICES Brokerage
Lease Negotiations
Labor Analytic Research
Request for Proposals & Incentives
PROPERTY SIZE 40,997 SF Class “B” Office
PORTFOLIO SIZE 4,250,000 SF Mixed Property Type

ACCOUNT OVERVIEW

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.

McKinney Advisory Group proactively adds to the Client’s earnings through brokerage negotiation as well as asset, project, and property management. McKinney is a trusted advisor to the Client, and looks for ways to create value in every dollar spent through its services including site location, lease and incentive negotiations, asset management, lease administration, CAM audits, legal administration, and financial reviews. By providing a comprehensive portfolio management service, McKinney helps the Client’s real estate become assets, adding to their bottom line.

 

CHALLENGE PRESENTED

The lease for The Client in San Antonio was coming due and the team needed a strategy that could possibly include relocation. San Antonio as a market has a low vacancy rate making it difficult to negotiate, and The Client had a large team to consider relocating. The Client had extended the space lease since the original move-in date and needed to create efficiencies in a new lease terms with work-space optimization and a comprehensive lease analysis.

 

SOLUTIONS

McKinney was not only able to negotiate an attractive renewal in The Client’s current Class B building, at a rental rate below comparable buildings in the area but also obtained a substantial renewal allowance for Client’s use in modernizing the space for better work-flow.

Additionally, to ease The Client’s concerns regarding potential future inadequate parking McKinney was able to negotiate the right to terminate the lease in the event The Client experiences issues related to lack of parking for its employees.

Another key factor for The Client was the right of first refusal that McKinney negotiated, which will allow The Client the first opportunity on any vacancies in the building before landlord offers to a third party.