Latitude’s Goal (landlord client): Full lease-up at quoted rates.
Drop Party’s Goal (tenant client): The perfect space, right term length, affordable rate.
Challenge
Latitude: One office vacancy remaining with one group, Vazzo Spaces, seriously interested but Vazzo had seven months left on an existing lease with no termination right. The time gap prohibited proposals from moving forward.
Drop Party: Difficulty finding the availability of a specific space requirement from which to run unique operations.
Strategy
ECR proactively identified Vazzo’s space as a potential fit for Drop Party.We toured Drop Party through Vazzo’s space to qualify.Then, ECR facilitated negotiations among Latitude, Vazzo Spaces, Vazzo’s landlord broker, and Drop Party in order to arrive at the following:
Vazzo Spaces early termination agreement with.
Drop Party’s back-fill commencement immediately thereafter.
Latitude signing a new lease with Vazzo Spaces.
Results
Two leases were executed where none would have been without ECR’s initiative.
Vazzo Spaces moved to their ideal space.
Drop Party found their ideal space at favorable rates.
Vazzo’s previous landlord experienced zero vacancies.
Latitude achieved full lease-up at the asking rate.
