Fit Story
Helping an IT Firm Dramatically Lower Occupancy Costs
CLIENT PROFILE
- Services firm helping companies worldwide manage and secure their IT environment
PERFECT FIT CRITERIA
- Needed twice as much space
- A range of options to consider
- Cost savings
The Challenge
Paragon Micro is a fast growing, leading provider of name brand IT software and related services. To take advantage of soft market conditions and in an effort to reduce costs, Paragon Micro retained us two years before its lease expiry to perform a comprehensive review of its real estate options.
The Solution
Paragon Micro occupied 6,000 square feet and was looking to double its space. We identified several buildings as prospects for purchase in a target demographic area. We also procured potential relocation leasing options. With these proposals in hand, we helped the client explore potential expansion opportunities. Meanwhile, the client’s landlord countered with a highly attractive lease restructure and expansion package, far exceeding any other option.
The Outcome
The long-term, early lease renegotiation enabled us to secure a competitive, below-market rental rate. A fixed expansion option was a key benefit for Paragon Micro. Our negotiations led to a 30% cost reduction, a construction allowance, and virtually unused furniture at no cost. Our custom solution eliminated the costs associated with relocation and allowed Paragon Micro to remain in a well located, Class A building at a significantly reduced cost.
“Our negotiations led to a 30% cost reduction, a construction allowance, and virtually unused furniture at no cost.”