Fortune 500 Financial Services Firm
- Fortune 500 Financial Services Client
- 46,000 sq. ft.
- Financial Services
- Transaction Management
- Zach McLaren
- Christianna Williams
client objectives and resultsSee more success stories
Client ObjectivesThe client had an immediate need to triple their local footprint. As a Fortune 500 company, experiencing rapid growth in the wake of the pandemic, our client had several business objectives around recruitment, retention and growth. We defined the real estate to be Class A, top quality product, that would create an impressive space to host high-net-investor-clientele, while bolstering brand recognition, supporting recruitment efforts, and fostering retention.
Cresa was able to negotiate a direct 46,000 SF office lease, at a competitive rental rate, in a Class A building within the South End submarket. South End is packed with high-end amenities and is currently experiencing a boom of new development and redevelopment projects. The submarket has a concentration of the client's industry peers, with a growing labor market that was consistent with the targeted demographic profile we first identified in our process.
Cresa was able to negotiate tenant improvement terms that would allow our client to specify and finish the space in a way that would maximize their client relationships and promote the company's innovative culture and brand identity.
A challenge arose when the selected building was unable to accommodate the higher-than-market parking ratio of 4.0 spaces per 1,000 SF required by our client. The Cresa team was able to develop a creative solution by identifying a new construction opportunity which was simultaneously being delivered by the same ownership group. Upon this new neighboring multi-family development's delivery, Cresa was able to secure the additional parking requirement, fulfilling the 4.0 spaces per 1,000 SF parking ratio to accommodate our client's growth strategy.