Bisco Industries

Challenge

• With an extremely short runway, ECR was hired by Bisco Industries to serve as its office lease advisor and to assist with finding a new office for the aerospace parts manufacturer’s sales office.
• At the time, Bisco’s current office lease was expiring in 3 months and was in a part of town it no longer wished to be in. Bisco was also reorganizing its management at the same time and the Managing Director of the Austin office was located in Utah.
• The company needed roughly 1,500 RSF outside of the CBD and per its bylaws, on the first floor of a building no taller than two stories.

Strategy

• ECR and Bisco worked together, initially long-distance, to ensure a clear understanding of the company’s long-term space needs, budget, items to avoid, and target dates to meet.
• It was important for Bisco to have an aggressive rate, a TI allowance, and to be on the ground level of a two-story office building.

Results

• Through its market knowledge and diligence, ECR was able to source and secure a space that checked all the boxes.
• Upon submitting a Letter of Intent, ECR was informed the space was no longer available.
• Time being of the essence, ECR quickly located additional viable options and negotiated a lease at One La Costa with a $10,750 Tenant Improvement Allowance to go towards a new break room, paint, and carpet.