Issue:
Utility Partners expected to grow from a core team of 12 to over 200 employees within 24 months. They were ready to commit to an 25,000 SQFT Class A office space although did not expect to fully utilize the space for almost a year, making the real estate cost per staff member unnecessarily high.
Solution:
Avocat Group identified a landlord with 4 vacant floors and helped Utility Partners negotiate a lease to take only 5,000 SQFT of space now with secure options to expand.
Result:
Utility Partners was able to expand a total of 7 times in small increments, ultimately occupying 42,000 SQFT. This strategy saved them $400,000+ in comparison to taking the entire space up front.
