XO Communications

Client
  • XO Communications
Space
  • 74,663 sq. ft.
Industry
  • Communications
Locations
  • Austin
Services Provided
  • Transaction Management
Cresa Team
  • Chris Marchbanks

Client Objectives

Reduce monthly rental exposure, dispose of a portion (27,740 RSF) of the entire premises (sublease, buy-out and termination), consolidate operations to one floor.

Results

  • Re-cast of existing lease obligation below the market rental rate
  • Reduced existing rental exposure 33%
  • Achieved an immediate savings of $2.24 million
  • Disposed of existing furniture, fixtures and equipment

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