Page 32 - Familiar Creatures Pitch Feb 2022
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warehouse building with a “first‐time” landlord
has become the rapidly the unknowns of the 7hillscre.com Richmond Hampton Roads
“traditional” vs. “creative” office space opportunities
what
needs of absorbed by Landlord
expansion front‐end above goals were achieved in large part due to detailed due diligence and lease subleased Fahrenheit’s vacated suburban space mitigating their entire
Expand and relocate prior to lease expiration
rapid lease obligation through subleasing the on
to former The proposed redevelopment project was evolving during negotiations
due a in opportunity Negotiated favorable lease document protecting tenant against
schedule new office lease office developing Scott’s Addition submarket warehouse conversion and first‐time developer preparation. Significant cost overruns were
compare
Case Study Real Estate Goals • Evaluate and • Challenges project Condensed • remaining Mitigate • Negotiated • • Solutions creative Identified • • Result The • Successfully • remaining obligation
Richmond, VA
Location Size 6,521 RSF Use Office Services Provided Workplace Strategy Tenant Representation Project Management Free Rent & Turnkey Work Letter Resulting in no out‐of‐pocket client construction costs Below Market Deal strategic market knowledge
Scott’s Addition ‐
