Cresa Finds Perfect Home to Support Wifi Company's Growth

Client
  • Deep Blue Communications
Space
  • 20,285 sq. ft.
Industry
  • Technology
  • Fitness
Locations
  • Albany
Services Provided
  • Transaction Management
Cresa Team
  • Zac Conley
  • Todd Stevens

Client Objectives

After spending seven years on Inc. 5000’s List of Fastest Growing Companies, Deep Blue Communications was acquired by telecommunications industry giant Comcast. In order to support the rapid growth, Deep Blue needed more office space. Over the years, the firm had expanded its office footprint by leasing adjacent available space, however there was no more adjacent space available for growth. Additionally, the office space Deep Blue was leasing was inefficient. The workforce was fractured; the growth occurred so quickly that Deep Blue took any space that was available and never had the opportunity to strategically plan its offices. Like many growing compa­nies, Deep Blue wanted to find new office space.

Results

Cresa began by helping Deep Blue identify its needs through a space programming exercise. Cresa then conducted a market survey, which uncovered property options that would suit Deep Blue’s requirements. After property tours helped narrow the list to two properties, Cresa requested lease proposals from both landlords and then lev­eled the proposals so that Deep Blue could make an informed selection. Deep Blue chose a space in a property in downtown Troy, NY. Building ownership was in the midst of redeveloping the first floor of the building to include a popular local coffee shop, a food court, a microbrewery, and a nine-pin bowling alley. Deep Blue’s 20,285 square foot space was built and furnished by a technology firm who broke its lease after less than two years. A 12,001 square foot, unimproved, vacant space neighbored the premises.
(We) couldn’t have done it without Cresa’s team. We are very excited for the expansion.
Brian Epstein  |  CEP
Deep Blue Communications

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