CLIENT OBJECTIVES
This international software company needed to expand their operation into New York City. They required a building with systems integrating the latest advances in technology to ensure continuity of business services. This regional sales office and training facility needed to be accessible to both clients and employees.

RESULT
CresaPartners provided strategic planning, process management, and transaction management services—all of which were fast-tracked to accommodate the client’s business sales cycle.

A location not on the market was identified at 380 Madison Avenue, a building whose primary systems had been recently upgraded. The property provided state-of-the-art systems such as 24-hour HVAC, backup generators, a UPS system, and redundant fiber sources accounting for approximately $2.2 million in client savings.

CresaPartners expedited the landlord’s consent from 90 days to 17 days, thereby delivering the premises early. These efforts saved the client two months and avoided holdover penalty charges of $235,000 at their existing location. Additional savings for Veritas came through the rental reductions, security deposited, and a $35.00 prsf workletter contribution for the space. Approximately $300,000 was saved in free rent, and the expediency of the transaction created $1.1 million savings in time, resources, opportunity cost and new business development.