In a landlord’s market and with building tax abatements about to expire, Mettler-Toledo needed to evaluate their real estate options. Mettler-Toledo chose Andy Jameson of Colliers International to determine what would be most cost effective: renew and expand in the current location, lease at a new location or purchase a property for a North American headquarters.
Using his extensive market knowledge and analytical skills, Andy was able to orchestrate a competitive situation where the current landlord and potential short-listed properties competed for the opportunity to land Mettler-Toledo at their building. In addition, Andy helped Mettler-Toledo solicit and navigate through differing incentives offered from various municipalities.
Ultimately, Andy was able to negotiate an extremely favorable deal with their existing landlord, obtaining a rent savings of more than 17 percent compared to the landlord’s original proposal to Mettler-Toledo.
Further savings were realized when Colliers was able to assist in securing municipality incentives, as well as an immediate reduction in contract of rent even though their original lease was not set to expire for close to 18-months. Lastly, Andy was able to negotiate a complex clause, whereby, if municipality incentives were not approved, operating expenses would be reduced proportionately.