Tenant Representation - A Case Study

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Tenant Representation - A Case Study

  1. 1. 1Tenant RepresentationCase Study 27,911 SF 1 EXECUTIVE DRIVE, CHELMSFORD, MACHALLENGEStructure a lease transaction that would address the company’s immediate space needs as well asaccommodate future growth.APPROACHThe client wanted to relocate to a higher-end building, at a location that would allow easier employeerecruitment without significantly increasing existing employees’ commutes.NAI Hunneman selected the best competitive options in the marketplace for an initial tour. After theclient identified its top choices, NAI Hunneman produced an extensive analysis to help examine thedesign efficiency and financial implications of each location. After several months of comparingoptions, a selection was made.RESULTSTenant signed a sublease and direct lease at the interchange of Route 3, I-495, and the LowellConnector. Tenant subleased space and paid a reduced rent on 20,000 SF with the ability to use27,911 SF for three years (the sublease term). Three additional years were also added at the end ofthe sublease term, directly with the Landlord at the full square footage and at a market rate. TheTenant saves over $1,000,000 during the first three years, which also includes free rent for the firstthree (3) months. 303 Congress Street | Boston, MA 02210 | 617 457 3400 | www.naihunneman.com

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