Whiteman, Osterman, and Hanna retained Cresa Albany to ensure a market-driven offer by identifying alternative locations, ascertaining local and regional rates, and negotiating with the current landlord. Prior to Cresa Albany involvement, the client engaged in an unsatisfactory lease renewal negotiation.
Cresa Albany was involved in every facet of the project from inception to completion. The comprehensive tenant representation process involved determining the client’s exact spatial requirements, finding suitable relocation sites, and soliciting multiple comprehensive proposals to allow site comparison.
Cresa Albany created custom Request for Proposals (RFP) for the final candidate sites, identifying client requirements, economic terms, improvement specifications, and general lease terms to create a competitive transaction. Cresa Albany conducted a comparative RFP analysis including year-by-year cost estimations, non-economic considerations, construction budgets, and occupancy cost projections.
Through Cresa Albany’ efforts, the client recognized savings in excess of $1,500,000 and obtained more favorable business terms than in their previous lease.