Chemical Lab and Corporate Offices

Marcus Lipsey  /   September 28, 2023

Chemical Lab and Corporate Offices

A publicly-traded chemicals company engaged Nick, our founder, initially to help sublease their Class A offices in The Woodlands during a challenging time in their business. Between this facility, their dated lab facility, and back-office suites, they occupied approximately 30,000sf across 3 different spaces in the submarket.

As the assignment continued, the scope of work changed to identifying a space which would allow the company to consolidate everyone under one roof. Finding a facility that could accomodate Class A offices to receive guests, host executives, and tour prospective customers, while at the same time supporting a world-class chemicals testing lab in a tight submarket was no easy task.

Nick leveraged their national credit, larger footprint for the submarket, and timing of the hyper-local real estate cycle to secure a solid deal a single tenant building. The site was initially not considered, but knowing the owner and their creativity, Nick put together a flagship campus for them.

Objective Outcomes

  • Tenant secured a long-term lease on a single-tenant facility
  • Tenant obtained a year of completely free rent
  • Rental rates secured that are now ~35% below market rents
  • Reduced client’s footprint in the city by 20% while still accommodating all employees
  • Negotiated the right for tenant to audit the building’s operating expenses accounts and statements

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Nick is the managing partner of Rifle CRE, bringing a wealth of experience and expertise to the commercial real estate…

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