Egon Zehnder
7,600 sq. ft.
Renovating and renewing an existing space
Client
- Boatsetter
- 6,369 sq. ft.
- Hospitality
- Technology
- Financial Services
Locations
- Miami
Services Provided
- Transaction Management
Cresa Team
- Zachary J. Talbot
Client Objectives
Boatsetter is a Fort Lauderdale-based startup and the market leader for boat rental platforms. Boatsetter combines the rental mechanics of Airbnb with the on-demand dynamics of Uber to deliver a hassle-free and mutually beneficial boat rental experience.
Boatsetter is a technology startup and one of South Florida’s fastest growing companies. After raising an additional $10M funding the company was looking to expand internationally and needed to grow their team. The CEO was wanted to be located in Downtown Fort Lauderdale but did not want to pay Las Olas prices. It was critical to keep lease cost low and achieve a shorter lease term for flexibility. The team wanted a high-end tech build-out with exposed ceilings and an all open area and meeting rooms for breakout sessions.
Results
- Identified a sublease option that met nearly all the needs of the company while keeping rent under budget.
- Negotiated a 40% below market rental rate.
- The building identified was in the Ft. Lauderdale River and was perfect for their brand
- Achieved prominent building top signage
- Short lease term for business flexibility
- Space came fully furnished and with cabling/wiring avoiding a major out of pocket cost to the company
- Two-story loft space with 22’ ceilings
