Compare Metrics

Challenge

• ECR was hired to solve for Compare Metrics office expansion requirement.
• The start-up technology company required a short lease term commitment and a creative office that reflected the young and energetic culture of the company.
• ECR was challenged to provide a solution for Compare Metrics’ requirement which consisted of a creative environment, flexible lease term, ample parking, budget constraints, and a short business operating history.

Strategy

• ECR researched several potential opportunities which included traditional office properties and flex properties.
• ECR researched and prepared market surveys.
• Toured all the viable options in the marketplace in order to help Compare Metrics make the most informed decision.

Results

• In a tight office market with landlords pushing rates and requiring longer lease terms, ECR identified and sourced a 4,150 RSF flex space which had been vacant for over a year and a half, and an adjacent space that was vacant providing additional room for future growth.
• Through research, it was determined that the ownership was about to take the building to the market to sell and was looking to fill vacancies and increase the occupancy to seem more attractive to investors.
• A well-executed negotiation strategy leveraging the best property options resulted in a lease structure in which Compare Metrics was able to negotiate a below-market rental rate, favorable rent abatement, turn-key construction, ample parking, and a two-year lease term.
• Compare Metrics was able to expand into the adjacent suite a few months later without having to extend its initial lease term.
• ECR attributes this success to Compare Metrics and their ability to provide a clear and accurate schedule, strategy, and budget early in the process.
• The approximate savings for Compare Metrics is in excess of $180,000.00 over two years based on their budget and the economic concessions we achieved.