In a tight market and a tight timeline to work with, ECR was hired to solve for Idean’s office space requirement in downtown Austin a tight market.
The Finnish design company required a short-term creative office space in a historic building in downtown Austin which would allow the company to establish a presence in Austin and that would provide for expansion space due to anticipated growth.
Further, the company had three months to identify and secure a location for their SXSW unveiling party.
Strategy
ECR and Idean worked together to create a clear understanding of the space requirement, schedule, and strategy. Through the research and planning effort:
ECR identified several historic office buildings with creative spaces downtown as well as off-market opportunities.
ECR prepared a concise and informative report for all space options downtown in order for Idean to make the most educated decision possible.
I worked with Brian Walker to find our office space in downtown. Brian took the time to understand our needs. He even brought us to a property that was not yet listed that met all the criteria. He did the impossible and was very patient at the same time. Brian is a standup guy, someone you really can trust. He was also very responsive, honest, thorough and had our best interest in mind. I would recommend Brian and ECR to my friends and definitely will do business with him again.
Liya James
Idean
Results
ECR was able to source a 4,331 RSF sublease opportunity in a historic building that provided a solution for the short-term, creative office environment that Idean required.
Through its market knowledge, ECR understood that most landlords were requiring longer lease terms due to a lack of supply and high demand for creative space downtown.
Given the timing and supply constraints, ECR had to get creative and worked hard to identify off-market opportunities.
This creative and proactive approach helped ECR identify an off-market opportunity as the previous tenant had just moved out and the landlord had not yet started marketing the space.
ECR helped Idean secure the off-market sublease opportunity and achieved a well-below market lease rate, excess space for anticipated growth, and a short term providing flexibility to pursue a longer-term solution for their office space in the near future.
In addition, Idean was able to prepare their space before their SXSW launch party which has helped to recruit top talent and double their team within a few months.
