Issue:
Squaremouth outgrew their existing space when their current building was 95% occupied and unable to accommodate their rapid growth. Additionally, Squaremouth had a strong interest in acquiring a unique building of their own that would provide ample space for its expansion plans.
Solution:
Avocat Group was retained to assess all of their options for their expansion. It was determined that their existing space of 8,000 SF was to be subleased in order to allow them to pursue a larger headquarters location. Avocat marketed their existing space and found several subtenants that were willing to take their space while also exhausting the market of both traditional and specialized office buildings for purchase.
Result:
Squaremouth was able to move forward with a unique purchase, a vacant 20K SF church property that was retrofitted into an office space with enough space to accommodate their growth.
