1. Sample Case
Studies
Each office is independently owned and operated.
2. McKinney
Synopsis 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
3. McKinney
Expanded 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.
4. NNE Pharmaplan
Synopsis of Deal Points
• 11,348 Square Feet
Leased
• Over-standard Tenant
Improvement Allowance
• Additional Rent
Concessions
3005 Carrington Mill Blvd., Morrisville • Obtained Rent Concessions
to Enable Buyout of Existing
Lease
5. NNE Pharmaplan
Expanded 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.
6. Schwab Performance Technologies
Synopsis of Deal Points
• 5th Time Client Engaged RCR
• Represented Client’s
Renewals, Expansion and Original
Lease
• Market Rent Concessions 434 Fayetteville Street,
Raleigh
• Lower than Market Rental Rate
• Parking Concession
• Facilitated Transactions in 4000 Westchase
2010/2011 Blvd., Raleigh
7. Schwab Performance Technologies
Expanded 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.
8. Womble Carlyle Sandridge & Rice
Synopsis 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
150 Fayetteville Street, Raleigh Early Renewal
• In 2011 Leased additional 11,300 sq.
ft. at 2530 Meridian for one year
• Rent Concessions
• Additional Tenant Improvements
• Cancellation Option & Expansion
2530 Meridian Parkway, Durham
Rights
9. 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.
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.
10. Umicore USA, Inc.
Synopsis of Deal Points
• 15,200 Square Feet
Leased
• Cancellation Option
• Expansion Options
• Signage Included
3600 Glenwood Avenue, Raleigh
• Over-standard Tenant
Improvements
• Market Rent Concessions
11. 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.