Office space market was very tight to find a short term solution, so Cherry & Associates looked at creative alternatives to solve the short term option.
Achieved a good rental rate for a short term solution that was not on the market, and Doster shared space with another client who had additional space that couldn’t be demised. Their businesses were complementary to each other.
To find larger growth space, the market was very tight and rental rates were easily outside of Doster’s budget for office space.
Cherry & Associates identified an option that was second generation space, below market prices, and modifications were minimal. The layout worked well for Doster, with some modifications they chose to make directly.
Through negotiations and review, determined that common area factor was too high, and the actual space was smaller than identified.
Contacted architect and disputed common area factor for commercial building.
Negotiated to achieve a lower rental rate due to common area issues, and mitigated annual increases.
Incorporated expansion rights, renewal, and flexibility of term for further growth considerations.