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Sample Case Studies with References Each office is independently owned and operated.
McKinneySynopsis of Deal Points 43,000 Square Feet Leased $250,000 in Additional Base Building Improvements Above Market Tenant Improvements Below Market Rental Rate Additional Rent Concessions Economic Incentives 10 Year Lease 318 Blackwell Street, Durham
McKinneyExpanded Case Study In 2004 relocated the 30 year old advertising company, owned by the French company Havas, from its downtown Raleigh location to American Tobacco Complex in Durham. Negotiated with various developers for Build to Suit proposals for lease at Centennial Campus on the NCSU Campus and in Glenwood South. The 43,000 square foot leased facility was selected due to its uniqueness, perceived long term value, potential expansion and economic incentives for this historic renovation project. Concessions included $250,000 in additional base building contribution, lower rental rate as first tenant in the project, penalties for landlord in event certain deadlines were not met and over-standard tenant improvements in addition to improvement contribution upon renewal. Expansion and contraction options also negotiated. In 2009 with five years remaining on the lease, renegotiated a blend and extend term obtaining rent concession which could be amortized immediately and enabled the tenant to save staff in a down economy.
NNE PharmaplanSynopsis of Deal Points 11,348 Square Feet Leased Over-standard Tenant Improvement Allowance Additional Rent Concessions Obtained Rent Concessions to Enable Buyout of Existing Lease 3005 Carrington Mill Blvd., Morrisville
NNE PharmaplanExpanded Case Study NNE Pharmaplan - In 2008, Danish Pharma design firm with offices located in Clayton had need to relocate to be closer to their client base in RTP. Eighteen months remained on the lease, but concessions gained from the new Landlord enabled the Tenant to buy-out their existing lease and have an over standard tenant allowance to showcase their new 11,348 square foot space in Duke Realty’s Perimeter One Building in Morrisville.
Schwab Performance Technologies Synopsis of Deal Points 5th Time Client Engaged RCR Represented Client’s Renewals, Expansion and Original Lease Market Rent Concessions Lower than Market Rental Rate Parking Concession Facilitated Transactions in 2010/2011 434 Fayetteville Street, Raleigh 4000 Westchase Blvd., Raleigh
Schwab Performance TechnologiesExpanded Case Study Schwab Performance Technologies – Renewed at BB&T/Two Hannover Square in 2010 for additional 5 year term for 16,000 sq. ft. and expanded 4,000 sq. ft. as well. Tenant obtained lower rental rate, market rent concessions and additional tenant improvements as well as continued parking concession for this high rise building in downtown Raleigh. Recently renewed office of approximately 5,000 square feet in Westchase II for additional two year term.
Womble Carlyle Sandridge & RiceSynopsis of Deal Points Engaged RCR for 3 Transactions in the Last 10 Years 67,500 Square Feet Renewed at 150 Fayetteville Street and Currently Engaged for 5,000 sq. ft. Renewal In 2009, Downsized Office in Meridian from 27,000 to 16, 000 and Early Renewal In 2011 Leased additional 11,300 sq. ft. at 2530 Meridian for one year Rent Concessions Additional Tenant Improvements Cancellation Option & Expansion Rights 150 Fayetteville Street, Raleigh 2530 Meridian Parkway, Durham
Womble Carlyle Sandridge & Rice Expanded Case Study Womble Carlyle Sandridge & Rice, PLLC - Variety of transactions since 2000. Assisted the law firm with a review of potential build to suit options 2 years prior to lease expiration for 67,500 square feet. The decision was to renew the existing lease obtaining additional tenant improvements, concessions in free rent and fixed rents throughout a new 12 year term, rights to all floors in upper elevator bank and as well as a contraction option. In 2009 downsized the RTP office from 27,000 square feet to 16,000 square feet with 15 months remaining on the existing lease saving 25% in rent concessions and tenant improvements. aaa In 2011 negotiated below market rent for 11,300 square foot requirement in same building for contract review operation for one year term which dramatically impacted savings from utilization of existing IT, though the tenant improvements were "as is" for the one year term. Actively pursuing renewal of that lease or extension of the term. aaa
Umicore USA, Inc.Synopsis of Deal Points 15,200 Square Feet Leased Cancellation Option Expansion Options Signage Included Over-standard Tenant Improvements Market Rent Concessions 3600 Glenwood Avenue, Raleigh
Umicore USA, Inc. Expanded Case Study Umicore USA, Inc. - In 2011 RCR relocated the North American headquarters for this Brussels Belgium company from a Class B facility in Highwoods Office Park to a signature Class A facility at 3600 Glenwood Avenue. The building had approximately 60% vacancy though activity was brisk. Ameriprise Financial, and Baird Securities had just leased space in the property as well as American City Business Journals, another lease Rich Commercial had negotiated. The tenant had obtained a proposal from Highwoods Properties prior to having broker representation. The final lease compared to the first proposal enjoyed a savings of 30% which included rent concessions for the seven year term, above market tenant improvements, signage, a back-up generator, expansion and cancellation options. Rent was back end loaded which enabled the tenant to lower the potential exposure of unamortized tenant improvements and leasing fees after the 60th month by the value of the rent concession.