Helping a Captive Occupier Expand

Client
  • Jera Power
Space
  • 11,611 sq. ft.
Industry
  • Energy
Locations
  • Houston
Services Provided
  • Transaction Management
Cresa Team
  • Ray Lopez
  • Gary Lawless, Jr.

Client Objectives

  • Jera Power was in the middle of a long-term lease but required additional space to accommodate expansion.
  • To meet the growth needs, the client needed to take possession of the additional space immediately to comfortably house newly hired employees.
  • Jera Power wanted the new space to match its current space in design and function.

Results

  • Cresa developed multiple alternatives and ran a thorough financially analysis on each option to give the client a clear understanding of how best to proceed.
  • Ultimately the client decided to rent additional office space on another floor that would be coterminous with their original premises.
  • Cresa delivered a tenant-favorable outcome despite being a captive tenant, securing a TI package that allowed Jera to build out the new space to meet their specs.
  • Cresa Project Management worked closely with the landlord and construction team to ensure the space met the client’s needs.

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