Expanding NERC’s HQ Space While Retaining Below Market Rental Rates
Services Fournis
Client Objectives
- NERC wanted to expand its current headquarters’ location while maintaining below market rental rates.
- NERC additionally wanted to refresh its entire space without spending capital or paying additional fees for improvements.
Results
- Cresa’s strategy was to preserve NERC’s cash flow while leveraging the landlord’s funds.
- Cresa expanded NERC’s headquarters by 10,000 SF with full construction and refresh of the entire facility.
- Cresa additionally extended NERC’s existing lease by 5 years at below market rates.
- The client saved over $1,000,000 to be allocated for needed expansion and improvements.
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I was extremely impressed with the recommended strategy by Cresa and their ability to achieve their stated goals of not spending our capital for improvements and retaining submarket rental rates.Andy Sharp | Controller
NERC
