T-MOBILE

29,211 Square Feet   |   Office and Data Center Space

When T-Mobile’s wireless division decided to consolidate its office personnel and critical data center into one location, timing was critical.  The new data center had to be operational in time for a year-end corporate-wide promotional event that had been set in motion.  In addition to completing the transaction – from start to finish – in 72 days, negotiating a right to terminate and a right to renew and expand, our value-adds included:

Results

Rental rate that is 31% lower than the primary lease rate
Furniture valued at $572,000.00
Data Center Equipment

• 3 cabinets $4,500.00
• 20 cables $6,000.00
• Two 8-ton HVAC units $64,000.00
• UPS, 40KVA system $34,000.00
• 1,400 square feet of raised flooring $14,545.00

Communications cabling for 145 cubes (2 data and 1 voice to each cube)
$50,750.00
Demo Room and AV Equipment

• Ceiling-mounted projector and mechanical screen
  $30,000.00
• 2 televisions
  $1,800.00
• 1 VCR
  $200.00
• 1 DVD
  $300.00
• Sound board, light panel, character general, speakers
  $80,000.00
• 6 Polycom telephones $1,500.00
• HP LaserJet 3200 fax machine $900.00

BANCTEC, INC.

More than 400 Locations   |   National Representation

Represented BancTec, whose real estate requirements would classify it as a corporate services account.  We provided real estate services for BancTec’s national portfolio for 14 years.  Our goal was to secure the proper type of real estate at the lowest cost of occupancy to maximize BancTec’s strategic growth plans. 

Responsibilities

Develop and implement strategic plan to control and maintain real estate expenses
Maintain a computerized lease tracking system
Manage multiple lease transactions simultaneously
Conduct financial analyses
Negotiate lease buy-outs
Negotiate purchase / sale contracts
Sublease space
Perform annual review of operating expenses at each location
Authorizing rent checks through the accounting department

GAYLE  TRIANGLE, INC.

375,000 Square Feet   |   Warehouse Distribution

Gayle Triangle is a third-party logistics firm.  For this assignment, the in-coming product came from a foreign country, thereby qualifying Gayle for a tremendous inventory tax savings, which the firm was unaware of prior to engaging us.

Results

3 months free rent, value of $271,875.00
Office area refurbishment allowance, value of $20,750.00
Eight inch black vinyl-coated fence with 2 gates, value of $34,000.00
Construction management fee waived, value of $2,738.00
C&W cash contribution, value of $5,000.00
Eliminated 90% of Inventory Tax, based upon a total inventory of $200,000,000.00

• City Tax elimination, annual value of $1,695,400.00
• School Tax elimination, annual value of $3,596,228.00
• County Tax elimination, annual value of $221,495.00
• Total 40-month lease term value of $16.54 million

Annual right to audit operating expenses
7% cap on controllable expenses
Limitation on pass-through of capital items
Right to reduce the LOC
Renewal option

WESTINGHOUSE SECURITY SYSTEMS (WSS)

53,750 Square Feet   |   Home Security Monitoring Center Build-to-Suit

When Westinghouse had a home security, it hired us to evaluate and compare the benefits and costs of renegotiating an early lease renewal/expansion or securing an alternate location.  Our evaluation and analysis concluded WSS would benefit by designing/building its facility.

We orchestrated competition for the design of WSS state-of-the-art security monitoring center. This build-to-suit assignment included developing a written set of interior specifications, site selection, developer selection, lease negotiation and penalties for non-timely construction completion.

Results

For a term equal to a 10-year renewal, we saved $4.3 million (“out-of-pocket” dollars) at a present value of savings of $2.4 million

CORNING CLINICAL LABORATORY

80,000 Square Feet |  Blood Testing Laboratory Build-to-Suit

Corning hired us to negotiate the BTS assignment for a state-of-the-art blood testing laboratory that included unique features such as negative air pressure from the offices into the main lab area and a flexible trench grid system for sink drainage.

Responsibilities

Site selection
Developing a written set of laboratory specifications
Negotiating an existing lease buyout

Results

Created a $300,000 cash allowance for CCL’s use Obtained a cancellation option with a predetermined termination penalty and a fixed formula for expansion