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Project Outline
Nexus IS hired Doug Klein to solve their
immediate need of 10,000 square feet of high tech space. The difficulty
of this transaction was that they needed 80% office and a drive-up door
and they needed to be in occupancy with all systems running in two
months. All this had to be accomplished in a market that is largely
distribution in product type with only a few high tech alternatives.
Compounding the difficulty of the requirement was a need for only a
three-year term and the fact that the company was only six months old
and had little credit history.
Doug used the GVA Tenant Representation
System to quickly obtain a thorough understanding of their needs and
then match them with the market. Doug identified one solid alternative,
but used two others to leverage the market and to ensure competitive
results. After selecting and negotiating acceptable terms with both
parties, Doug coordinated the Landlord’s architect and contractors to
ensure a phasing in of improvements which allowed the tenant to occupy
on time and meet all of their objectives.
Services Provided
Result
Nexus achieved a highly discounted rate by
leveraging the market. The Tenant’s difficult timing requirements were
all met on time. Despite a difficult credit situation, a suitable deal
was negotiated balancing tenant improvements, free rent, and credit.
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Nexus IS
Kent, Washington
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