{"id":9864,"date":"2023-06-11T13:03:11","date_gmt":"2023-06-11T21:03:11","guid":{"rendered":"https:\/\/bmcre.freewebsite.org.in\/wp1\/?page_id=9864"},"modified":"2023-06-11T13:57:03","modified_gmt":"2023-06-11T21:57:03","slug":"irvine-ca","status":"publish","type":"page","link":"https:\/\/bmcre.freewebsite.org.in\/wp1\/case-studies\/corporate-occupier-services-diversified-partner\/irvine-ca\/","title":{"rendered":"Irvine Ca"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"9864\" class=\"elementor elementor-9864\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b1a4b6c elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"b1a4b6c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-24ad828\" data-id=\"24ad828\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1049983 elementor-widget elementor-widget-text-editor\" data-id=\"1049983\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<h1>Represented Microsoft Corporation in lease renewal.<\/h1><h2>Challenges:<\/h2><p style=\"font-weight: 400;\">Microsoft was occupying 2 entire floors for a total of 41,210 RSF. Due to the current economic downturn and changing office landscape, the tenant was looking to downsize their office footprint and subsequently trim staff levels.<\/p><ul><li>Meet the Tenants desire to reduce space and restoration obligations.<\/li><li>Work with the property owner, a licensed broker, in a way that he would see and accept the current market conditions and landlord concessions when negotiating a lease renewal.<\/li><li>Show the financial benefits and security of retaining a Fortune 100 company as a tenant.<\/li><\/ul><h2>Solutions:<\/h2><p style=\"font-weight: 400;\">Utilizing our experience working with corporate occupiers and their specific needs, we were able to determine their space needs, security concerns, and time constraints.<\/p><p style=\"font-weight: 400;\">We secured terms that were exceedingly beneficial to the tenant allowing them to focus more on their core business and not have to spend\u00a0 time and expense on space reduction restoration costs.<\/p><h2>Results:<\/h2><ul><li>We were able to negotiate the lease renewal with a 3% per SQFT rate reduction.<\/li><li>Reduced 41,210 SQFT. (Entire 16<sup>th<\/sup> &amp; 18<sup>th<\/sup> Floors) to entire 16<sup>th<\/sup> floor 17,925 SQFT.<\/li><li>Removed restoration clause upon the lease expiration for the 18<sup>th<\/sup><\/li><li>Negotiated parking space fee reduction by 50%.<\/li><\/ul>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Represented Microsoft Corporation in lease renewal. Challenges: Microsoft was occupying 2 entire floors for a total of 41,210 RSF. Due to the current economic downturn and changing office landscape, the tenant was looking to downsize their office footprint and subsequently trim staff levels. Meet the Tenants desire to reduce space and restoration obligations. Work with the property owner, a licensed broker, in a way that he would see and accept the current market conditions and landlord concessions when negotiating a lease renewal. Show the financial benefits and security of retaining a Fortune 100 company as a tenant. Solutions: Utilizing our experience working with corporate occupiers and their specific needs, we were able to determine their space needs, security concerns, and time constraints. We secured terms that were exceedingly beneficial to the tenant allowing them to focus more on their core business and not have to spend&nbsp; time and expense on space reduction restoration costs. Results: We were able to negotiate the lease renewal with a 3% per SQFT rate reduction. Reduced 41,210 SQFT. (Entire 16th &amp; 18th Floors) to entire 16th floor 17,925 SQFT. Removed restoration clause upon the lease expiration for the 18th Negotiated parking space fee reduction by 50%.<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":8995,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-9864","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/pages\/9864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/comments?post=9864"}],"version-history":[{"count":4,"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/pages\/9864\/revisions"}],"predecessor-version":[{"id":9909,"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/pages\/9864\/revisions\/9909"}],"up":[{"embeddable":true,"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/pages\/8995"}],"wp:attachment":[{"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/media?parent=9864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}