Client:

  • Taylor Precision Products
    Oak Brook, IL

Assignment:

  • Acquire 200% additional space and secure several expansion rights to accommodate future growth.
  • Develop state-of-the-art show room space and conferencing facilities.
  • Create long-term, lowest economic lease situation.
  • Improve visibility of tenancy in building (i.e. exterior signage).
  • Maintain no business interruption throughout facility relocation.

Strategy:

  • Created leverage against current landlord with new building developments in the suburban real estate market.
  • Completed an exhaustive search of all potential direct, sublease and build-to-suit opportunities in the East/West suburban office market.
  • Aggressively leveraged lease renegotiation with current Landlord based on significant loss of building value if tenant relocated.

Benefits Achieved:

  • Expanded square footage by 103% and reduced per sq. foot rent costs 35%.
  • Tenant improvement allowance 28% above market.
  • Acquired multiple fixed expansion rights, including Right of First Refusal, Fixed Option & Early Termination Rights.
  • No business interruption during facility relocation.
  • Obtained one year of gross free rent.