The Challenge LBi had been in their present office for 10 years. the principals were only concerned about their overreaching costs because they were now paying over market. Furthermore the space was old, tired and needed an update. The lobby, the LAN room and the conference area were barely functional.
The Solution The challenge was to make the landlord give LBI a market deal – What would they do for a new tenant. To create urgency in the landlord’s mind, I showed, LBI other buildings of similar quality to their present building. I then negotiated deals on a few of them. These deals were based on LBi being a new tenant in those buildings. I then brought those deals to their present landlord and told them they were going to move into one of these buildings unless their landlord matched the deals. I had created leverage.
The Result The rent and other costs of the space were reduced to below market. They received all new carpeting, paint and wall covering. Ceiling tiles and lights were replaced or repaired. Their conference room was redone with cabling for a computer screen. The lobby was redone providing a new desk for the receptionist. The computer room was redone providing new 24/7 cooling.
“Your determination and skillful negotiation resulted in the updating of our space and more manageable terms. You negotiated things we never would have thought of. It was a pleasure working with you and we thank you for your professionalism and having our best interest in mind.”