Arrow Small

Client

Space

Industry

Locations

Services Provided

Cresa Team

client objectives and results

See more success stories

Precision Drilling wanted to determine if they should terminate its current lease three years before expiration to potentially relocate to a more economic situation.
Cresa advised that leveraging the surplus of sublease space in the Energy Corridor/Westchase submarkets would produce a more advantageous economic outcome.
Putting a huge focus on employee recruiting and retention, Precision Drilling wanted to modernize its office space and provide easy access to first-class amenities.

Engaging the market during a highly competitive tenants' market, with an abundance of deeply discounted sublease opportunities, provided maximum leverage.
Cresa identified several potential options that that maximized the tenant's position creating a potential threat of loss to the current landlord
The amended lease provided a substantially lower rental rate, generous TI package and free parking for the extended five-year term.
In all, Cresa created more than $2.8 million in real estate savings for the client.