Benefits Data Trust

Client
  • Client Benefits Data Trust
Space
  • 40,000 sq. ft.
Industry
  • Nonprofit
Locations
  • Philadelphia
Services Provided
  • Transaction Management
Cresa Team
  • Jeff Baker

Client Objectives

Benefits Data Trust “BDT” is a national not-for-profit organization committed to transforming how individuals in need access public benefits.

BDT’s objectives were to find a building and landlord who could accommodate a quickly growing non-profit organization by providing growth flexibility and competitive economic terms with significant lease flexibility to relocate their corporate headquarters.

Results

Cresa initiated a broad and aggressive market competition among seven major landlords. This competition helped to create the leverage needed to achieve BDT’s goals. Equity Commonwealth acted aggressively to secure BDT’s new corporate headquarters. Highlights include:

  1. Aggressive economics with a 3-year phase in of the total rentable square footage
  2. Above market tenant improvement dollars
  3.  Increase in the landlord’s base building work (bathrooms renovations and demolition expense paid by landlord)
  4. Six months of free rent & free temporary space (3,300 SF) for an 11 month period until the lease commenced
  5. Two lease termination rights

Cresa achieved over $3.1 million in reduced recurring expenses via the negotiations. Cresa achieved a savings over $1 million in upfront capital expenses via negotiations and Project Management services.

I know I’m not alone when I say that we’ve all been astounded by the client services Jeff Baker and his team have (and continue) to provide BDT.
Connie Rizzute  |  Director of Operational Services
Benefits Data Trust

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