Merisant-Chicago-IL-SM
CLIENT Merisant US, Inc.
LOCATION Chicago, IL
SERVICES Brokerage
Lease Negotiations
Sublease Negotiations
PROPERTY SIZE 9,345 SF Class A Office
18,269 SF Class A Office (sublease)
FINANCIAL BREAKDOWN Reduced overhead by 40%

ACCOUNT OVERVIEW

McKinney Advisory Group has enjoyed a long-term relationship with the CEO of Merisant. McKinney Advisory Group was enlisted to locate a new office in Downtown Chicago in order to reduce overhead and enhance operations with new and more efficient offices. McKinney Advisory Group located a space for Merisant which fit the changing dynamics of Merisant’s recent mergers and acquisitions, as well as the changing needs of its operations.

 

CHALLENGE PRESENTED

Merisant needed to reduce overhead by downsizing its Chicago operations, a necessary shift prompted by the recent relocation of its Chicago executives to other Merisant facilities nationwide. The core group remaining in Chicago required a location in the prime office market of Downtown Chicago near the major rail hubs for ease of commuting. At the same time, the special purpose space that Merisant had built to their prior needs would have to be subleased to avoid double occupancy cost. McKinney was tasked with developing a plan for the client that would reduce overhead and create flexibility in their lease terms.

 

SOLUTIONS

McKinney researched the market, used deductive reasoning, and implemented processes and procedures to create leverage in the market. A list of over twenty viable options were identified. McKinney Advisory Group conducted the strategic negotiations for Merisant, which further enabled them to drive the lowest lease rate with the greatest flexibility in the market. Ultimately, McKinney Advisory Group met all of Merisant’s goals and objectives, achieving the targeted reduced overhead and establishing an optimal office space with a prime location. McKinney reduced the client’s overhead by 40%.