Expanding NERC’s HQ Space While Retaining Below Market Rental Rates

Success Story by Tom Tindall, Brooks Morris, and Mike Loy for NERC
Client
  • North American Electric Reliability (NERC)
Space
  • 60,000 sq. ft.
Industry
  • Energy
Download
Locations
  • Atlanta
Services Provided
  • Transaction Management
  • Project Management
Cresa Team
  • Tom Tindall
  • Brooks Morris
  • Mike Loy

Client Objectives

  • NERC wanted to expand its current headquarters’ location while maintaining below market rental rates.
  • NERC additionally wanted to refresh its entire space without spending capital or paying additional fees for improvements.

Results

  • Cresa’s strategy was to preserve NERC’s cash flow while leveraging the landlord’s funds.
  • Cresa expanded NERC’s headquarters by 10,000 SF with full construction and refresh of the entire facility.
  • Cresa additionally extended NERC’s existing lease by 5 years at below market rates.
  • The client saved over $1,000,000 to be allocated for needed expansion and improvements.
I was extremely impressed with the recommended strategy by Cresa and their ability to achieve their stated goals of not spending our capital for improvements and retaining submarket rental rates.
Andy Sharp  |  Controller
NERC
NERC Headquarters
NERC Headquarters

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