Fountainhead Commercial’s client needed to secure a 15,000-square-foot industrial building in advance of his upcoming lease expiration. After an extensive search across the Denver market, an ideal fit was identified.
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A young RN and former schoolteacher decided to leave the big city and stake their claim in Chico, CA. This couple’s dream was to create a best-in-class senior/assisted-living facility to provide a tremendous quality-of-life for those in their final years. Bootstrapping was the only way forward for the Kupermans but they had a vision and were undeterred. Over 2 decades later, the business and real estate holdings had grown from a 6-bed (in 1 small rental home) facility to a large operation spanning 5 commercial assisted-living facilities. When the Kupermans decided to slow down & begin enjoying the fruits of their labors, their entire operation was put on the market for sale. The blue skies of 2019 soon turned dark & ominous in 2020 when the impact of covid-19 threatened what they had built. Fortunately, patience and persistence won; the clouds parted, and the assisted-living facilities were sold.
Welcome to the United States! – Opening an Australian Financial Services Company’s First U.S. Office
Through a channel partner, we were referred to the Australian financial services company, Finstro, as they were reaching out into the U.S. to provide their innovative customer payments solutions. The company needed to establish a staffed, physical presence in the Denver region within three months to fulfill commitments they had made to their U.S. banking partner.
Finstro needed approximately 5,500 square feet of space, including 20% conference/huddle rooms, several executive offices, and shared space for their sales team.
It was a privilege to educate the Finstro team about the Denver region’s commercial real estate market, including what items are negotiable, what concessions to press for, the various lease structures, and even the differences in vernacular. We helped these company executives understand their options so they could make the best choice for their company and be in a strong position to explain and validate their decision to their shareholders.
The team knew enough about Denver to know they wanted to be in the downtown area with access to clients and to recruit the caliber of employees they wanted. The executives came to Denver twice for half-day site visits over a two-week period. In that limited time , we did an extensive review of properties on both ends of downtown (from LoDo to the Northeast side) and all points in between. We also presented the differences between Class C, Class B, and Class A properties.
The price points, access to employee transportation, and the availability of the necessary spec suites led us ultimately to 1660 Lincoln, a Class B+ property that ideally suited their needs, budget, and brand. We reviewed with the property manager the recent HVAC and other improvements they had made to the property.
Working with a tenant representative can result in major cost savings for you and your business. At Fountainhead Commercial, we work diligently to ensure we negotiate a deal that is in the best interest of your business.
The Situation
A global client with over 150 locations needed to reduce overhead and refresh office finishes.
The Challenges
In order to do so, Fountainhead needed to evaluate their portfolio to determine where there was an opportunity to consolidate offices/relocate or renegotiate existing lease agreements while securing maximum tenant improvement dollars and other economic incentives.
The Result
Created a database tool to track all of the client’s lease administration including office size, rental rates, net expenses, remaining term, number of employees, and utility costs. Utilized information from the database, in addition to research on each market, to identify which metropolitan areas were most likely to provide maximum savings on renegotiation or relocation; identified and planned consolidation in 25 international markets.
Over the next twelve-month period we pursued decreased rent, tenant improvement dollars, free rent, and other concessions from the respective landlords. The client saved approximately 26% on their global occupancy cost, which equated to over $5,000,000 per year and approximately $27,000,000 over the renegotiated term.
The Stat
If your business has locations across the United States, or even around the world, Fountainhead Commercial can help reduce overhead costs and renegotiate existing lease agreements. Contact us today to learn more.
Relocation can be a stressful time for business owners. There are a lot of unknowns and risk can be high if you don’t know what you’re doing. Fountainhead Commercial can help.
The Situation
A regional law firm outgrew its initial space within the first 12 months of the lease term and desired to quadruple the size of its Denver office.
The Challenges
Tour the marketplace to create the required leverage to enable the client to expand within their current building, terminate their existing lease (with cost-savings), and relocate to a new space.
The Result
Justin Rayburn, tenant representative, successfully created the required leverage that allowed the client to expand within their current space, which generated an 11% savings on rent and tenant improvements (over $135,000 in value), terminate their existing lease obligation (a savings of approximately $125,000), and relocate to a new space that was designed specifically for their use.
The Stat
If you’re interested in relocating and reducing your rent, reach out to us at Fountainhead Commercial. We’ll do the hard work for you so you can focus on other areas of business.
