Relocation with Rent Relief

Event Management Systems (EMS) was occupying 6,198 square feet of Class B space with a lease expiration looming on the horizon.  Business was going well and they desired an image upgrade with a little expansion space.  However, they needed enough rent relief for the relocation to make sense financially.  This is when they turned to Rare Space.

Rare Space has acted as a “virtual” real estate department for EMS over the past four years, and set out to find Class A space that would be financially responsible while achieving EMS’s goal of image enhancement.  Over time, Rare Space learned of a Class A building which was being acquired by a new owner.  Knowing this was the perfect time to approach the new Landlord, Rare Space was able to negotiate and leverage a lease on 8,708 square feet, on the top floor of the building, which included 20 months of free rent and a great market lease rate.  With the twelfth floor western views in a Class A building, EMS achieved their image upgrade while lowering their costs per square foot, and avoided paying double rent.

Below is a side-by-side comparison of EMS’s deal: