Situation
Nearing the end of their existing lease term, a Houston wealth management client wanted to re-assess their company headquarters office location and requirements. The business had grown substantially, many employees were working from home due to the commute and their office finishes were dated since the previous lease was done.
The goal was to move to a location that was upscale and where employees and clients can get quick access to and create a smooth transition into a well appointed space.
Strategy
Using detailed knowledge into the traditional office market and insights from the Client, Peyton Poynter, a Park Realty principal, advised the Client on multiple locations nearby stakeholders with high-end amenities and access to major thoroughfares.
Comparing a renewal at their existing headquarters and alternative options, the team executed on negotiating the lease with an eye on the client goals – quality finishes/amenities, improved economics, and a seamless transition.
Results
The team was able to secure a lease with turnkey improvements with high-end finishes based on priced out plans with the Landlord. The lease also allowed for a substantial amount of abated rent & parking during the term of the lease to cover the client for the first year of the lease term.
