ECR was hired to solve for MakerSquare’s office requirement in downtown Austin in a tight market. The start-up tech company required a space consisting of open space for class rooms and smaller meeting rooms with a short lease term due to anticipated rapid growth. Further, the company had classes starting one month from the time ECR was engaged.
ECR and MakerSquare worked together to create a clear and accurate schedule, strategy, and budget. Through the planning effort, ECR researched and identified a couple of viable options, which included properties in and just outside of downtown that would consider a shorter term lease. ECR researched and prepared reports for all options in the marketplace in order for MakerSquare to make the most informed decision.
Brian and Patrick with ECR have truly exceeded our expectations. They helped us find and close two deals in record time. ECR proved better than the competition as they really listened to our needs and delivered results to our exact requirements. Thank you guys immensely for everything! We would not be successful without your expertise! Keep up the good work.
With a short timeline to work with and a tight downtown office market, ECR quickly sourced a 4,650 RSF office space in a historic building in downtown Austin that provided the creative environment that MakerSquare was looking for. Through research, it was realized that a lease had fallen through on the space just days before and the landlord did not have a backup solution. This enabled MakerSquare to capitalize on the landlord’s position and a well-executed negotiation strategy allowed MakerSquare to achieve a below market rental rate, a favorable rent abatement period, and a short term lease, all of which occurred in less than three weeks. Further, the amount of rent abatement received allowed MakerSquare to offset the cost of the excess space until it was able to be utilized as another classroom. The approximate savings for MakerSquare is in excess of $110,000.00 over the duration of their lease based on their budget and the economic concessions we achieved.