Lease Renewal Roadmap

Cresa has been chosen by United Access, a supplier of wheelchair-accessible vehicles and equipment, to manage its national real estate portfolio.
Client
  • United Access
Space
  • 200,000 sq. ft.
Industry
  • Transportation and Logistics
  • Industrial
Locations
  • Denver
Services Provided
  • Global Portfolio Solutions
  • Lease Administration
  • Location Strategy & Economic Incentives
  • Transaction Management
Cresa Team
  • Mike Statter
  • Matt Burton

Client Objectives

A national/portfolio account of Cresa – Denver, United Access is a nationwide company in the business of selling and servicing vehicles outfitted for persons with special needs and disabilities.  These products include fully equipped vans and automobiles with Adaptive Driving Controls, Turning Seats, Wheelchair Lifts and Wheelchair Accessible Vehicle Conversions, and Rentals.

United Access operates three facilities along the front range in Wheat Ridge, Highlands Ranch, and Colorado Springs.  Both the Wheat Ridge and Colorado Springs locations had lease expirations at the end of 2018, and both facilities were looking at the possibility of large rent increases.

Results

  • Denver Savings - $85,000
  • Colorado Springs Savings - $40,000
  • Total Savings - $125,000

By concurrently working with existing landlords and reviewing alternative available properties in the market, Cresa – Denver was able to assist United Access in not only renewing both leases at discounts to original landlord proposals and market comparables, but in negotiating tenant improvement packages at both facilities.  Five-year lease extensions were executed at a saving of approximately $125,000.

United Access utilizes Cresa to manage all of their real estate transactions nationwide, which included seven 2018 lease renewals.  UA is also a client of Cresa Lease Administration (“CLA”) based in Dallas, TX.  CLA sends their clients monthly updates of all critical dates (Lease Expirations, Renewal and Termination Options, etc.) contained in their operating leases.  All documents and lease information are kept in a cloud database that is accessible to both client and account managers.

 
United Access Map

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