John Hancock had a lease nearing expiration and retained Cresa Albany to evaluate their options at the existing site and alternate locations. The client tasked Cresa Albany to negotiate an agreement for space that met the allocated budget and their programming needs.
Cresa Albany worked with the client to detail their space and financial requirements and Cresa Albany’ objective site evaluation process was applied to both the current building and potential new sites. Cresa Albany drafted two separate Requests for Proposals (RFPs). The RFP for possible new sites listed the client’s full facility and transactional requirements while the RFP for the current site itemized the floor plan changes and other essential factors the client needed to make remaining viable.
Analysis of the RFP responses enabled an “apples-to-apples” comparison of features, amenities, and lease terms among multiple locations. Cresa Albany secured for the client a rebuilt floor plan, a modernized reception area, and a very aggressive 'below market' rental rate while avoiding the costs and disruptions of a move.