STATISTICS

Square Footage : 125,000

SERVICES PROVIDED

Landlord Representation

CHALLENGE

The tenant was located in an office park in three separate buildings occupying a total of 190,000 SF and was approaching a simultaneous renewal for each building and therefore was evaluating options within the market to reduce it’s rent exposure.

STRATEGY

Jeff Tolrud coordinated a team consisting of architectural and construction firms on behalf of the landlord that determined the potential space redundancy and overall building efficiency to relocate and anchor a new building in order to achieve pre-lease initiatives.

RESULTS

IBM signed a new 12 year lease for 125,000 square feet at a higher per square foot rate, but lowered it’s overall rent exposure in total dollars. The landlord was able to develop a Class A project with a quality tenant.

Tampa Bay
311 Park Place Suite 600 Clearwater, FL 33759 United States | Tel: +1 727 442 7184