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Sample Case
  Studies



      Each office is independently owned and operated.
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
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.
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
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.
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
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.
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
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.
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
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.

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Sample Case Studies

  • 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.