|PROPERTY SIZE||1,383 SF in a Larger Class “A” Office Building|
|PORTFOLIO SIZE||2,000,000 SF of Mixed Space|
|FINANCIAL BREAKDOWN||Savings of approximately 10%|
Our industrial client had a lease expiration impending and were unhappy with the location and amenities of their current space. McKinney was presented with an opportunity to find a space for the company to relocate. It was important to the client that their new space would accommodate their business need while saving costs and eliminating the need for out of pocket expenditures for build-out of a new space.
Regan located several viable alternate sites in the Philadelphia, Pennsylvania market which had the capacity to accommodate the client’s size requirement while also reducing their annual rental costs. Narrowing down the available options, the McKinney team worked on simultaneous negotiations. As a result of creating competition in the marketplace, the McKinney team was able to negotiate a transaction allowing the client to relocate into a building better suited to their needs while reducing their annual rent by approximately 10%.