Edison Mission Energy
3 MacArthur – Santa Ana, CA
Edison Mission Energy had occupied its former building for 20 years and engaged Real Tech to assist in evaluating alternative locations to increase space efficiency and reduce operating costs.
- Reduced square footage from 90,980 to 85,339 SF (6.2%), while increasing headcount from 258 to 300 (16.3%)
- Decreased average monthly lease costs over 10-year term by 41% from last month at previous building
- Secured TI allowance 14% greater than construction costs, with right to apply excess allowance towards FF&E
- Eliminated all property tax increases above 2% per year (Prop 13)
- Secured all unreserved and reserved parking spaces free of charge for the entire lease term.
- Option to expand for 36 months at the same terms and conditions as original premises.
- Option to cancel with no penalty (unamortized costs only, on a straight-line basis)