Acorn Cardiovascular
The Situation
- Given the costs associated with a move, medical device company Acorn Cardiovascular (Acorn) didn't want to relocate from their existing space.
- Acorn was already working with a very challenging landlord.
- Acorn's Vice President of Operations wanted to take advantage of current market conditions and create flexibility within the lease.
- Acorn hired Gannett Peak Partners (GPP) to provide objective market knowledge and to drive favorable lease terms.
The Approach
- GPP met with Acorn to understand their existing space conditions and future space needs.
- GPP completed a preliminary market review.
The Solution
- A request for proposal was created on behalf of Acorn which reflected the general terms and conditions they sought.
- The landlord’s proposal was reviewed, analyzed and compared to current market condition.
The Result
- Acorn renewed their lease with favorable terms.
- By working with GPP on their lease negotiations, Acorn was able to maintain a focus on its core business.
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