Patrick Brady
Market Expert
Assistant Director, Savills Studley
Illinois Licensed Real Estate Broker
One of the more common challenges in the tech commercial real estate pursuit is time. In CRE time is considered a best friend in leveraging negotiations. But sometimes time is just a luxury. With a ticking clock due to business operation requirements, recruitment needs, or client delivery due dates, it’s no surprise a typical response to commencement timing is “ASAP.” As an effort to break down potential opportunities to still maximize negotiations while dealing with a limited time frame, we peeled back the hood of a recent (and successful) lease negotiation where we were under pressure for an immediate move-in date. Bring @SES-Imagotag to the picture.
In this “ASAP” commencement, the rapid growing tech user approached us needing a ‘next day move-in‘ office requirement, with the other traditional tech caveats that are a-typical in the commercial real estate community (i.e. term flexibility, growth/contraction options, minimal upfront security, below market rent costs, short-term, furniture, etc.). Not only did they achieve much of the above, but securing an office in under thirty days was the prioritized accomplishment. So after digging in to the case study what did we uncover?
I’ve included pictures of the final product for SES below. Congratulations on your Chicago office and continued growth! The space includes sit-to-stand/standup desks, a collaborative kitchen, conferencing and huddle rooms, and elevator ID.
For questions on “ASAP” commencement, as well as the CRE process, your office, or a specific building or trends in the market, I can be reached HERE.
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