A Fortune 500 Manufacturing Company headquartered in Ohio was in the process of renewing a small office lease in Ohio and had received an initial offer from the Landlord.
Allegro reviewed the client’s existing lease and the Landlord’s proposed renewal agreement, conducted market research on comparable recent deals and their associated terms, and determined that the Landlord’s offer was not competitive in the market. Allegro helped the client to build leverage with the Landlord and represented the client in the transaction negotiations. The total savings for the client was $57,000, which included a reduced rental rate and the Landlord’s assumption of responsibility for all build out. The client was also able to capture $3,900 in commission as additional savings through their engagement with Allegro.
Additionally, the company made several notable improvements to the lease document, including mandating key lease criteria and business terms in all leases, which were then incorporated as best practices and risk management tools for all domestic real estate transactions. Allegro provided the resources for the company to transition their real estate from being an asset which was managed reactively, to a profitable and strategically managed asset.