Proven Execution

Preserve at 620

Owners + Investors

Client’s Goal

Sign a new lease term with an existing tenant, iA American Warranty Corp.

Challenge

The tenant had underutilized office space and identified many right-sized relocation options in the market.
Other landlords were offering sizable concessions for a relocation. Additionally, if the tenant were to downsize and remain, it would be challenging to find an acceptable location for the demising wall.
Significant electrical work needed to be relocated in order to properly divide the space, which proved to be very costly.

Jason and Sean did an excellent job in the downsize and renewal of one of our tenants at The Preserve at 620. Their attention to detail helped us in identifying some costs that were not expected. With their assistance, we were able to work through a mutually agreeable solution with the tenant and complete the renewal.

David Giglio

Vice President Corporate Real Estate, New American Funding

Strategy

ECR’s leasing team worked with the tenant’s side to develop a creative and equitable arrangement for paying for non-standard items, thereby keeping the tenant within the property.
Additionally, ECR collaborated with the landlord to offer an early downsizing option prior to the upcoming lease expiration date, resulting in immediate rent savings.

Results

ECR successfully negotiated a new five-year lease term with the tenant, incurring minimal deal costs.
The landlord agreed to pay for the demising wall costs.
The tenant’s give-back space is a move-in-ready furnished office space, available immediately.

10122 Bradshaw Rd ECR Advises Client With Off-Market Sale of Flex Property in Southeast Austin Owners + Investors New Hope Professional ECR Successfully Sold All Units Across the Six-Building Project Owners + Investors EastVillage EastVillage – 1.5 Million SF Mixed-Use Development, Austin, TX Owners + Investors

View All Case Studies

Ready for us to exceed your expectations?

We’ll connect you with the best-suited team for your needs. Let us know what we can do for you!