Atlanta Office Realty, Inc

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Atlanta Office Realty, Inc Exceeding Expectations

Exceeding Expectations

Whether you are looking to forecast space needs, track headcount growth or develop a long term strategic real estate plan, Atlanta Office Realty, Inc is poised to meet your needs.

These case studies show just how valuable Atlanta Office Realty, Inc can be for your company.

Mutual Services
Transaction Size: 38,000 Mutual Services

Cyberguard
Transaction Size: 30,000 Cyberguard

Bunnel Woulfe
Transaction Size: 30,552 Bunnel Woulfe

Case Study: Mutual Services

Client Situation

Mutual Services Corporation had over 2 years remaining on there lease. The market was beginning to tighten, rental rates were beginning to increase, and big blocks of space were becoming scarce. MSC wanted to look at all of their options in the market as well as a potential restructure with their existing landlord. 

Consideration and Analysis

We started the process by identifying all potential relocation opportunities within the targeted area.  We engaged MSC's existing landlord and let them know that we had been retained to look at MSC’s long term real estate plan and that they would probably see our name in the market.  We were creating leverage in case the ultimate goal was a stay put and restructure.  MSC was roughly 20% of the building cash flow and we exploited that fact.  We were negotiating simultaneously with MSC’s existing landlord as well as an alternative to be built building.  This to be built building would give MSC a reduction in overall square footage but would be more expensive on a per square foot basis than their existing building.  We analysed all aspects of the transaction from operational efficiencies, financial modeling all the way to cultural issues (what the employees were thinking).

Results

After extensive negotiations with MSC’s existing landlord and at the same time pursuing a relocation to a brand new building being built, the ultimate outcome was that Mutual Services Corporation decided to restructure their existing lease and stay put.  The results are to follow. 

  1. New 10 year term
  2. Over $600,000 in tenant improvement money
  3. Landlord to provided a 250 KW backup generator
  4. First 2 years at half rent
  5. An overall rental sayings of over 1.3 million dollors