fortune-500-tampa-fl-LRG
CLIENT Fortune 500 Company
LOCATION Tampa, FL
SERVICES Brokerage
Lease Negotiations
Labor Analytic Research
Request for Proposals & Incentives
PROPERTY SIZE 29,215 SF Class “A” Office
FINANCIAL BREAKDOWN Leased at 17% Savings over 68 Months

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.

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.

 

CHALLENGE PRESENTED

Due to the changes in healthcare under the affordable care act and The Client obtaining additional contracts in the state of Florida serving new communities, The Client needed expansion space, more than four times the size of their then-current Class A office space. The McKinney team was tasked with identifying relocation options to accommodate their growth, although they were committed to two additional years of lease term. McKinney had to find options to accommodate the timeline needed for growth as well as the expiration of the then-current term.

 

SOLUTIONS

McKinney was able to negotiate with the current landlord to free up space in an adjacent building, owned by same ownership. By doing so, The Client’s lease term for the existing location was forgiven in exchange for a new term in the larger space needed.

As the landlord was not able to meet The Client’s initial commencement date needs for growth space. McKinney was able to procure temporary space in the same building at no cost to tenant until the new space could be delivered. McKinney was able to satisfy the client’s short term needs and long term growth.