Hosting.com

Expedited Sublease Achieving Above-Asking Rates
Client
  • Hosting.com
Space
  • sq. ft.
Industry
  • Data Centers
Locations
  • Dallas
Services Provided
  • Transaction Management
  • Consulting
Cresa Team
  • Maschera Usrey

Client Objectives

  • Dispose of excess space located within tenant’s premises as soon as possible while achieving the highest possible return
  • Modify existing lease language to retain renewal options; otherwise sublease could not occur as Sublessor’s retained space includes a data center

Results

  • The sublease was completed in 5 months in a submarket where subleases average 15 months on the market
  • Negotiated amended lease with landlord to allow Sublessor to retain renewal options, which would have otherwise been waived upon subleasing
  • A rental rate exceeding the asking rate was achieved – despite the space being remeasured at a higher square footage than marketed

I am writing to express my gratitude for the level of service extended to us by Maschera Usrey; an SVP with the CRESA office in Dallas Texas. Hosting Data Centers operates an IT facility in this location which also contained an unused office area. Sublease of this office area was a key initiative for us for the company and one of my main areas focus for the first quarter. Ms. Usrey displayed a very high level of expertise in facilitating a complex sublease arrangement between Client, Landlord and Tenant wherein all parties enjoyed a positive work effort and a mutually beneficial outcome. I will look forward to working with Maschera again when the need arises.
Rada Flam  |  Sr. Director of Data Center Operations
Hosting Data Centers

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