Alquest
The situation:
- Alquest knew they wanted to renew their lease which wasn’t expiring for anther 18 months.
- Alquest Chief Financial Officer wanted to take advantage of current market conditions and needed improvements within their space to be more efficient.
- Alquest hired Gannett Peak Partners (GPP) to provide objective market knowledge and to drive favorable lease terms.
The Approach:
- On several occasions GPP met with Alquest to understand existing space conditions and future space needs.
- GPP requested a copy of Alquest’s lease to review.
- A preliminary market review was completed.
The Solution:
- We toured four buildings as a comparison of Alquest’s existing space.
- A request for proposal was created on behalf of Alquest which reflected the general terms and conditions sought by Alquest.
- The landlord’s proposal was reviewed, analyzed and compared to current market condition.
The Result:
- Alquest lowered their rent while obtaining an improvement allowance to completed needed work within their existing space.
- GPP saved Alquest time and money.
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