case studies

Matrix Communications/Network Design Inc

Implement phone systems and cabling/wiring for phone/internet

Plymouth 161 Cheshire Lane

Situation

Matrix had 1.5 years left until their lease expired and had previously negotiated lease terms on their own. They knew the market was bad but did not know what rental rates were. They did not want to move but wanted a great deal.

Challenge

They had 1.5 years left and if they were to move the construction costs would be expensive. They were in a high image property and did not want to downgrade. They loved the access and visibility and ultimately didn’t want to move and their Landlord knew it.

Solution

Approached the Landlord early and started discussing the lease situation. The Landlord was not motivated, as suspected and we began touring property. We never got a proposal from competing Landlords however made the market aware that their business was available to win. The Landlord began to get nervous and over time dropped their rates significantly. We used time and tactics to motivate the Landlord.

Results

The results were a savings off of their lease rate of around 23%. The Tenant received over $393,000 of lease concessions through free rent, rental reduction, and improvements. The rates they are now paying are the lowest in the portfolio.

case study list next case study

side

Top 10 Deals

Click here to view the latest top 10 commercial deals featured by CGC Commercial. Read on