ECR negotiates below market terms at an attractive rate in renewal for FSTI, Inc. at 6800 Bridgepoint Parkway
Client’s Goal
To find a long term space for their team that resolved several pain points they were experiencing in their current space.
Challenge
With the deadline to execute their renewal option rapidly approaching, FSTI, Inc. consulted ECR if they should exercise the option outlined in their previous lease.
After discussing their pain points of their current office and desire to get some upgrades, FSTI hired ECR to serve as its office lease advisor and to assist with finding a new office.
The company was in need of 5,000 RSF along the 360 Corridor that had Class A finishes, amenities for their employees and a space that could be utilized 24/7 for this logistics company.
Strategy
ECR and FSTI decided not to exercise the renewal option and worked to ensure a clear understanding of the company’s long-term space needs, budget, items to avoid, and target dates to be able to complete construction before their lease expiration.
After touring and finding Austin’s tight market did not have exactly what they were looking for, ECR asked for a proposal from their current landlord as well.
We’ve been in the same office complex for several years and were interested in seeing other options before renewing our lease. ECR helped locate potential spaces in our preferred locations and with a range of budget options. They were very helpful with office tours and helping us figure out what exactly we’d need - both with the physical space and possible renovations - which was helpful during the office search. When we decided it would be a better choice for us to stay in our current spot than build out in a new location, ECR was able to help negotiate better terms for the renewal than we would have been able to achieve on our own.
Kristin Moore
FSTI, Inc.
Results
Through its market knowledge and diligence, ECR was able to check all the boxes for FSTI by securing a TI allowance, competitive rate and cleaning of their current space.
