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Cres Solutions
Cres Cres

Success Stories

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Success Story - Congress Avenue Services


Savings:   $36,862 *6.19% on overall NER $ 5.26% on gross up * Capped Fees *  6 months abated rent * 50% on Sublet profit * 5% cap on Opex

Issues
:

  • Client had very little time left on current least
  • LL would not negotiate with our agent
  • Client needed to be able to sublet a portion of the space to grow during the lease term.
  • Cliend didn't want to have to redesign the space, but wanted to move.
Results:
  • The Chase Tower location fit them PERFECTLY! They even purchased a lot of the furninture already there.  That makes the move a bit easier.
  • OpEx factored in at 105%, we got it down to  100% - grossed up and capped at 5% increase per year max based on ACTUAL  OpEx
  • 2 months of abated rent if he is relocated w/in the first 4 years of term
  • New Suite MUST look like the current suite if they are moved, including cut outs.
  • Allowed TI to go toward purchase of furniture & any and all moving costs
  • Access to space 2 weeks prior to moving in at no cost
  • Can sublet up to 30% of space w out LL's approval of who he is leasing it to

“Molly Anderson and the team at CRES significantly increased the amount and scope of improvements the Landlord had originally proposed, reducing our out of pocket expenses for build-out.  Their thorough and energetic approach reflected their market knowledge and commitment to their clients.”    

-Van R. Hoisington, President and Chief Investment Officer

 
 
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