Egon Zehnder
7,600 sq. ft.
Renovating and renewing an existing space
Client
- DataCore
- 21,705 sq. ft.
- Technology
Locations
- Miami
Services Provided
- Transaction Management
Cresa Team
- Zachary J. Talbot
Client Objectives
DataCore is a Fort Lauderdale-based developer of software-defined storage. The company is a pioneer in the development of SAN virtualization technology.
DataCore set out to achieve the following:
- Relocate prior to lease expiration to implement brand refresh as quickly as possible.
- Revamp the company image by updating the office environment to create a high-tech feel that is better aligned with the company’s rebranding.
- Relocate office to a newer building with the proper infrastructure to accommodate their employees and data center.
- Reduce overall rent spend/occupancy costs.
- Implement workplace strategy to improve office space efficiency and workplace adjacencies of agile teams.
- Identify a centrally located office to retain current employee base and attract new talent in South Florida.
Results
- Identified a location within 1.5 miles if the existing location that met all of DataCore’s employee and infrastructure needs
- Negotiated $1,585,000.00 in financial lease concessions
- Reduced rent spend by $185,000.00 per year
- Achieved one (1) year of free rent to allow DataCore to relocate early while not paying double rent at their existing location
- Reduced footprint by 10,000 SF by implementing space planning early in the relocation search process
- Cresa Project Management designed a space, budgeted construction, and managed the entire buildout and move project
