Bohlmann and Company had enjoyed a 20+ year occupancy in a Class A office building, and had downsized 10 years previous to the 2011 lease expiration. While their business remained strong, through technology and other resources their floor plan was very inefficient, and they could decrease their space by 25% through relocation to new location.
9200 Watson Rd., Crestwood, MO
Client Requirement: Long term occupant in multi-tenant building had inefficient work areas, excess office space, wanted to include future retirement plans of principals, and have lower rental expense.
Real Estate Solution: New 5 year lease, with early termination and lower rental expense
Owner: Private Partnership
Broker: Landmark Real Estate Group-(David Bridges,)
Case Study: Bohlmann and Company had enjoyed a 20+ year occupancy in a Class A office building, and had downsized 10 years previous to the 2011 lease expiration. While their business remained strong, through technology and other resources their floor plan was very inefficient, and they could decrease their space by 25% through relocation to new location. Landmark assisted with a search of the south county area of St. Louis County and identified 2 vacancies acceptable to Bohlmann. After completing a cost estimate to complete the remodelling, relocation new equipment/ supplies, plus ancillary costs a present value was established for each building. While the existing Landlord had initially offered very little in the form of concessions it was determined with an approximate 25% reduction in rental cost and expense pass through with turn-key remodelling/updating of the offices by Landlord would almost balance out the savings through a relocation and space reductions. Results-new 5 year lease with significant reduction in rental expense.