Successful Sublease of Over 18,000 Sq Ft Class A Office Space

Client Overview

Our client, an established business occupying 18,000 square feet of Class A office space, sought a relocation to align their office closer to production facilities. This shift in tenancy aimed to streamline operations and enhance overall efficiency. However, they faced the challenge of finding a suitable subtenant within a rapidly changing market, as the pandemic and remote work trends brought downward pressure on office space demand.

Challenges

Amid headlines proclaiming the “death of the office,” marketing any office space became increasingly challenging. Compounding this challenge, the client’s team underwent structural changes during the process, including the introduction of a new CFO. It became essential not only to attract prospects but to ensure a seamless, consistent experience as we guided the client through the sublease.

Solution and Approach

Our team, led by brokers Nick Terry and Stacey Stevens, employed a high-caliber marketing approach to showcase the space effectively and attract qualified prospects quickly:

1. Professional Marketing Materials: High-quality photos, compelling flyers, and detailed brochures ensured the space’s strengths were highlighted. This information was distributed across all major platforms for maximum visibility.

2. Competitive Pricing Strategy: We strategically priced the space to accelerate interest and align with the client’s goal for a swift transaction.

3. Premium Tour Experience: Prospective subtenants were welcomed with a refined tour experience, including iPad displays with interactive floor plans, clean, well-maintained spaces, and comprehensive knowledge of the building’s amenities and features. These tours provided clarity and helped potential subtenants envision their occupancy.

4. Project Consistency: We quarterbacked the entire process, maintaining continuity in communication and ensuring all aspects of the deal were thoroughly understood. This was particularly beneficial given the changes within the client’s team, ensuring everyone stayed informed and the deal progressed smoothly.

Results

Despite market headwinds, our targeted strategies delivered results within a notably short timeframe. The office space was subleased in under six months—meeting the client’s expectations for a quick, efficient transaction. The client expressed satisfaction with the seamless process and valued our reliability as their strategic partner throughout.

For more information, please contact Nick Terry, SIOR, CCIM.

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