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Case Study

Ready, Set, Grow! Finding Prime Space in a Tight Market

One of the world’s fastest-growing technology companies was adding more than 6,000 employees. To keep pace with growth, it sought 1 million square feet of R&D space in Silicon Valley—one of the nation’s tightest real estate markets. The company required new buildings ranging from administrative offices and an engineering center to a daycare and wellness center. Plus, the new space needed to be close to the company’s headquarters campus. 
   
We quickly assembled a crack brokerage and project management team that included a 20-year veteran of the San Jose property market. Our team conducted hundreds of analyses and apprised our client daily about new property leads. By scrutinizing physical and improvement cost evaluations, we were able to reset space priorities as property was secured and the market continued to tighten.

After a thorough review of all conditions, our team and our client agreed that leasing, rather than owning, more closely aligned with the company’s long-term objectives. We negotiated maximum flexibility into lease terms, including the ability to secure 1 million square feet of additional space upon 30 days notice. In the end, four separate transactions were executed, each with termination options. Three contained lease-to-purchase options and five-year renewal options at below full market value. Our client got exactly what it needed, and the start-to-finish process took only nine months. 

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