Non-profit negotiates to accommodate rapid growth

Client
  • Partners In Health
Space
  • 37,586 sq. ft.
Industry
  • Nonprofit
  • Healthcare
Locations
  • Boston
Services Provided
  • Transaction Management
  • Project Management
Cresa Team
  • Derek Losi
  • Barry Dubé

Client Objectives

  • Struggled to accommodate rapid growth in a constrained space with no additional availability and three years remaining on its current lease obligation at the Fenway
  • Sought to improve operational efficiency and upgrade the organization’s image

Process and Results

  • Negotiated a tenant-favorable buyout of the lease by securing a long-term tenant
  • Leveraged the market and secured a new below-market lease at the Prudential Tower with Boston Properties
  • Secured a buyout allowance in excess of $1 million that Partners in Health used to offset its remaining obligation in the Fenway
We were super impressed with Cresa's PM team and their ability to stick to a budget, hold contractors accountable, and keep us on task. It was a very complicated project and I really felt like they held our hand through the whole process.
Ann Quandt  |  CFO
Partners In Health

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