General Finance Corporation
9,000,000 sq. ft.
AccountLease completes initial implementation of ASC 842
Completing the Vision—Creating an Environment for Success
Client
- TrellisWare
- 72,331 sq. ft.
- Technology
- Government Contractors
Locations
- San Diego
Services Provided
- Transaction Management
Cresa Team
- Don Mitchell
Client Objectives
- TrellisWare Technologies, Inc. is growing and means to compete in the engineering world.
- Their goal is to hire and retain the brightest and the best for their company. Their prior headquarters was in a 1980’s generation, one-story, Class C, R&D facility.
- Their goal was to relocate to a high image, amenity rich, centrally located and progressive project attractive to the engineering base.
- Economics were a strong consideration with capital needed to hire additional employees
Results
- Expanded from 47,000 square feet to 72,000 with option rights up to an additional 42,000 square feet
- With an long term lease in effect, we were successful in negotiating that the landlord would assume the current lease
- Occupancy will occur, concurrent with the start date for new employees
- The culture and environment has overcome competitive companies
- The total lease cost is below current market rents
With the hiring of our new CEO, we were interested in a “new look”. Cresa introduced us to an innovative design team, helped us narrow the market to the best options from a quality and “best location” standpoint and successfully negotiated the terms and conditions most beneficial for our company moving forward.Rick Sackett | General Counsel & Secretary
TrellisWare Technologies, Inc.
