Success Stories

XO Communications

Austin, TX
74,663 SF
Cresa Austin
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Client Objectives

Reduce monthly rental exposure, Dispose of a portion (27,740 rsf) of the entire premises (sublease, buy-out & 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

Additional Assignments

Project Challenges

  • Challenging configuration limiting sub-division of sublease premises
  • Landlord un-willing to “buy-out” and/or terminate subject premises
  • Dated building lobby entrance with wear & tear in common areas

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