case studies

Sales Board Inc

Provide Sales Training
Square Footage: 9,068

14505 21st Ave N Suites 206 and 210, Plymouth

Situation

SBI had 2 years of term left on their lease and a need to expand as their business was doing very well. The adjacent space was available and seemed to be a great fit for their expansion. They had just begun meeting with the Landlord when CGC Commercial got involved. At the time, they were paying rates that were 15% above market.

Challenge

With 2 years left on the lease, the negotiating position was not ideal. The only alternative was to lease space in another building in the area or at a minimum present the perception that they could take space elsewhere.

Solution

With extensive experience with that Landlord, we took a look at the overall vacancy became aware that they had over 30% vacancy. The threat of them moving when the lease came up was enough to make them motivated. We made the market aware that they had the ability to lease other space temporarily.

Results

19% discount off what their current rate was, a full construction buildout including all new carpet, paint, restrooms, and a new training room. In addition they received free rent. Also, 1 year of free warehouse space was thrown into the deal at the last moment.

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