Fit Story
Broetje Case Study
Client Profile
- German robotics manufacturer
- Primarily servicing the aerospace industry
- Looking for high profile space for an American HQ
Real Estate Fit Goals
- Adherence to manufacturing related technical specifications
- Specialized R&D space
- Proximity to expressways and O’Hare
The Challenge
Broetje was feeling the pressure. Their parent company was pushing them to find and finalize new space. They knew they wanted to be near O’Hare, but they were working with a broker, and the broker wasn’t getting the job done. We’re way better than a broker, so Broetje asked us to take charge.
The Solution
Prior to our involvement, the client was looking to each prospective landlord to provide cost estimates. We identified this as a strategic weakness and brought in a trusted partner to develop our own cost estimate. This enabled us to broadly apply the tenant finish specifications to each prospective property. By controlling this aspect of the process, we were able to negotiate a proper improvement allowance with each landlord. That, in turn, enabled us to provide a detailed financial analysis for each option and understand what the client’s capital costs would be moving forward.
The Outcome
We brokered a deal with the highest profile industrial park in the O’Hare market. By negotiating one of the development’s prime locations, we were able to achieve strong name identification for Broetje. We also pushed the landlord to offer an improvement allowance that was nearly double the market average with a reasonable rental rate on a long-term lease, thus, preserving the client’s working capital. The office area was designed with first class finishes and is home to Broetje’s U.S. executive and design teams. The client is extremely pleased with the results and excited to continue partnering with us post occupancy and beyond.
“Bespoke was a perfect fit for us. From our initial conversations through closing and beyond, they have been committed to our project. The level of guidance, resources, accessibility, and engagement of Bill and the team greatly exceeded our expectations. Their understanding of the nonpublic school income structure and the needs of our special population is unlike any other firm and allowed us to target specific properties that made sense specifically for our school. The Bespoke experience was so much more than buying a property. It was a partnership in finding our forever home.”
Kelly Weaver
Executive Director and Founder, Alexander Leigh Center for Autism (ALCA)