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Tenant Representation Success Stories
For a sample list of recent tenant representation transactions, click HERE.
For a sample list of tenants we have represented, click HERE.
Client: Bonneville International
Assignment: Lease Renewal or Relocation
Challenge: Bonneville needed to renovate their space or relocate to another building, while also reducing occupancy costs.
Solution: After examining other opportunities in the market, Bonneville decided to expand their space and renew their lease with their current landlord. Using current market conditions as leverage, we were able to reduce Bonneville's rental rate by over $3.00 per SF. This resulted in savings of approximately $800,000 over the 10-year lease term. We were also able to obtain a tenant improvement allowance of $20.00 per SF for Bonneville to renovate their 25,500 SF. We also negotiated an entirely new lease with the landlord that reflected very favorable terms for Bonneville. Lease value: $4,300,000.
To download printable version, click HERE.
Client: Cincinnati Eye Institute
Assignment: Build or Buy Corporate Headquarters up to 90,000 SF
Challenge: Cincinnati Eye Institute (CEI) wanted to consolidate numerous offices and purchase or build a Corporate Headquarters and centralized Surgery Center. Any location including Northern KY would work.
Results: We initiated a search of available properties and land that could accommodate CEI’s requirements. We also created a detailed buy verses build analysis, which when CEI narrowed the search became crucial in helping form a decision.Through existing relationships, we discovered that Scott S. Partners would sell Northmark III, a 108,000 SF Office Building directly on Reed Hartman Highway in Blue Ash. We negotiated and worked through the due diligence phase with CEI to close on the property in December 2006. Purchase price was $9,675,000 ($90/SF).
To download printable version, click HERE.
Client: Paychex, Inc.
Assignment: Relocation and Consolidation
Challenge: Paychex needed to consolidate its Blue Ash and Dayton offices into a central facility that would accommodate employees from both cities.
Results: After performing several site surveys, Paychex decided to focus on a new development where the first building had not yet been built. We worked with Paychex’s two existing landlords to extend both leases to accommodate construction of the first building. As the anchor tenant in this new Middletown building, Paychex was able to secure a ten year, 75% real estate tax abatement on the property. We negotiated a seven year lease for 26,191 SF, with the space “turn keyed” to Paychex’s satisfaction. Lease value: $3,900,000.
To download printable version, click HERE.
Client: Wells Fargo Advisors
Assignment: Lease Expansion and Extension 
Challenge: A.G. Edwards & Sons was bought by Wachovia Securities. Prior to this transaction, we represented A.G. Edwards in expanding their space by 2,072 SF in 2007. One year later, Wachovia needed to expand this space in order to consolidate its downtown offices from two locations to one. The main challenge involved negotiating a 3,485 SF expansion when Wachovia had four years of term on its lease. The landlord also needed to relocate a tenant to enable Wachovia to expand, as well as relocate the building conference room.
Results: Despite having several years remaining on Wachovia's lease and the landlord's costs associates with relocating both an existing tenant and the building conference room, we were able to leverage Wachovia's position in a soft market and ensure they received a generous tenant improvement allowance from the landlord and below market rental rates. Wachovia also extended their lease by several years. Wachovia leased 20,192 SF and the lease value for their expansion and extension was $1,500,000.
To download printable version, click HERE.
Client: Cincinnati USA Regional Chamber
Assignment: Lease Renewal or Relocation 
Challenge: The Cincinnati USA Regional Chamber needed to completely renovate their space or relocate to another building in order to reflect the vision and atmosphere of the company, while also lowering their occupancy costs.
Results: After touring several competing properties and obtaining proposals, we leveraged the Chamber’s current Landlord and the Chamber decided to relocate within their current building for three months while their existing space was completely rebuilt and expanded. We were also able to negotiate a new lease term of 10 years for 27,267 SF, while also obtaining over $2 million worth of incentives on behalf of the Chamber. Lease value: $5,200,000.00
To download printable version, click HERE.
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