Cresa assists Movado in renewing Paramus HQ

Client
  • Movado
Superficie
  • 90,050 sq. ft.
Industrie
  • Office
Emplacements
  • New Jersey
Services Fournis
  • Gestion des transactions
  • Gestion de projet
Équipe Cresa
  • Dennis Gralla
  • Jonathan Marks
  • Len Eagle

Client Objectives

  • Consider all relocation options to reduce costs and maximize employee talent .

  • Consider renewal option w/ NYC style space upgrades and open floor plan tailored to a fashion brand.

  • Negotiate a deal that meets costs and talent objectives.

  • Negotiate appropriate work letter allowance and potential safeguards due to future landlord uncertainty.


Results

  • Efficiently reduced square footage by +/- 9,000 square feet.
  • Secured necessary work-letter for space upgrades.
  • Secured legal language protecting the client from landlord transition in a likely sale and ensuring timely and appropriate space changes regardless of the owner.
  • Negotiated a transaction with significant cost savings and concessions.


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