Showing ConData Global a Better Fit
- Global freight post audit company headquartered in Illinois
- Seeking a new office location that can meet changing needs
PERFECT FIT CRITERIA
- Centrally located for employees
- Building amenities to fit current needs and help recruit talent
- Adequate space to accommodate social distancing during COVID-19
- Suitable for future growth goals
ConData, the leading freight and parcel audit recovery services provider, worked with a broker to negotiate a 10-year deal for a site that required significant construction and securitization. Then, when the pandemic hit, the client decided that its new office space – with its large common areas – no longer felt like the right fit. ConData decided to pause the deal until it had more visibility going forward, and they asked us to help them explore options
With our extensive private equity experience and understanding of investment timelines, we provided ConData with a second opinion based on the (then) current market, sublease availability, and future projections. Grasping the importance of a fast turnaround, we quickly put together a list of 21 potential properties that met all of the company’s requirements. Within a week ConData had toured the top two locations and found its perfect fit.
We negotiated an aggressive sublease locked in at a 50% below-market rate, saving the company $1.2 million over the term. Total savings add up to close to $2 million, including $60,000 on securitization, $80,000 on five months of gross-free rent, and $500,000 for FF&E. The 11,200 square-foot Class A building (in Oak Brook) is the ideal location for ConData Global – newly retrofitted with modern finishes and amenities that will support ConData’s future recruitment plans.
“We negotiated a sublease locked in at 50% below-market rate, saving the company $1.2 million over the term.”
Let’s Get You Fitted
CONNECT WITH A BESPOKE ADVISOR.