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Case Study

Rapid growth leaves client feeling squeezed

Located in Bothell, WA PCE Pacific had signed a 10-year lease for 27,800 square feet commencing in 2008.

As the client's business grew they quickly realized they would need a much larger space and heading into 2013 their requirements grew to nearly three times their current space.

At the time of the 2008 lease signing the market was very landlord favorable and the amount of time remaining on lease was significant. The immediate challenge was to determine a way to strategically terminate their existing lease and sign a new lease at lower rental rates.

To get the best value, Jones Lang LaSalle and PCE focused efforts on another building owned by the same landlord. The space would satisfy their larger requirement, and even though the landlord knew PCE had minimal leverage, Jones Lang LaSalle successfully negotiated a tenant favorable lease on behalf of the client.

With the help of the Jones Lang LaSalle's project management team, JLL was able to reduce PCE's out of pocket tenant improvement costs by more than $350,000.

Participating broker:

Charlie Malley
Managing Director
+1 425 974 4003
charlie.malley@am.jll.com

Chris Hughes
Managing Director
+1 425 974 4030
chris.hughes@am.jll.com

Mark Flippo
Managing Director
+1 425 974 4007
mark.flippo@am.jll.com

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