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Project Outline
Leopold Ketel & Partners is a very quickly
growing Portland-based advertising firm. Currently housed in a 1900’s
era building, they have needs to be able to expand quickly, contract
quickly and, most importantly, have a space that presents the image and
branding that attracts clients and key personnel. The current premises,
although attractive, lack modern technological support and
infrastructure.
Services Provided
How We Added Value
Kidder Mathews was hired six months prior to lease
expiration. Our charge was to control the threatened rent increase,
convince the current owner to deal with significant technical problems
with the building in a way that wouldn’t cost Leopold Ketel & Partners.
In addition, because of the rapid expansion potential and the apparent
unwillingness of the landlord to deal with deficiencies, LK&P needed
flexibility in the lease to deal with the eventuality that the Premises
were unsuitable for continued operation. By working with the building’s
property manager, we were able to get the building owner to make
improvements to the infrastructure and to agree to give the Tenant the
opportunity for self-help. By working with the Portland Development
Commission, we were able to secure a loan commitment to use for tenant
improvements when they were necessary. By exposing the landlord to the
market realities, we were able to convert the threatened increase in
rent into a reduction and, most importantly, secured a right to
terminate early at any time throughout the lease.
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“Our office space is an integral part
of who we are. We made it clear that, although we would move if we
had to, our first preference was to stay and correct some of the
problems that we had been dealing with for years. Mark and Brandon
understood our needs, met with our landlord and were able to solve
the problems without a move and at reduced rent.”
Terra Spencer
Operations Director |
