Situation:

ProTen was hired to analyze the feasibility of the early renewal or relocation of a client's North American headquarters.

Approach

ProTen conducted a cost/benefit analysis of locating potentially in 3 different markets in the U.S. Our report encompassed an exhaustive review of key factors including demographics as well as the cost to our client in terms of personnel severance, replacement, relocation, and salary expenses. Most of the markets being evaluated were the tenant's markets; ProTen leveraged the quality of the Tenant's image to the market place to achieve a below market rent.

Solution

The resulting transaction included substantial government incentives, a significant tenant improvement allowance, and a substantial gross rent abatement which covered all upfront costs of the relocation (including furniture, fixtures and equipment). Importantly, no letter of credit or security deposit was required, even though the signing entity (subsidiary) had a negative net worth.

Case Studies : 1 . 2 . 3 . 4 . 5 . 6 . 7 .