The Challenge
• The MS Society had a lease coming due in 18 months and was nervous about the rising rental rates in Seattle.
• The building gave signage opportunities, parked well (and free) and was located well enough for staff – so the idea of moving was not ideal.
• The cost of leasing office space was rising dramatically which put the MS Society at serious risk of being priced out of the neighborhood.
Strategy
• We focused on efficiency planning and determined that much of the space was being used as storage for events they needed access to only portions of the year.
• The landlord was motivated to keep them in the building and open to working with us on downsizing immediately if we would extend their term.
• We determined that finding storage space that allowed easy access to the necessary material, while not having to pay the high office rents for that storage would be an optimal solution.
Results
• We downsized MS Society 18 months in advance of their lease expiration, cutting 20% of their footprint without effecting employee seating or meeting space.
• We negotiated for a small internal office across the parking lot without windows at a heavily discounted rental rate for storage material, allowing MS Society easy access without the high price point.
• The rental rate was negotiated at current market rates, saving MS Society 10% in cost
savings over their following 5-year term.
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