Finding a flexible space for a growing startup

Client
  • CloudHesive
Space
  • 5,000 sq. ft.
Industry
  • Technology
Locations
  • Miami
Services Provided
  • Transaction Management
Cresa Team
  • Zachary J. Talbot

Client Objectives

CloudHesive is a technology startup and one of South Florida’s fastest growing companies. The company was founded in 2014 with four people in a Regus that has doubled in size every year. The CEO was looking to double the size of their office, with room to expand. It was critical to keep lease costs low and incorporate flexible lease options that allowed the company to grow. A large tenant improvement allowance was a priority so that a high-end build-out plan could be put-in-place. This would foster a state-of-the-art tech-centric space to attract and retain talent.

Results

  • Base rent was $3.00 PSF below market which resulted in $15,000+ per year in savings to Cloudhesive
  • Cresa negotiated an above-market TI allowance at $55.00 PSF
  • Three months of free rent were included
  • Right of First Refusal implemented for the contiguous space allowing for Cloudhesive’s future expansion
  • A Termination Option was included that provides Cloudhesive with the unilateral option to end the lease up to two years early.

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