Environment Consultants & Contractors
Headquarters Office – Long Beach, CA
Real Tech was engaged to identify cost saving opportunities in SCS’ real estate portfolio. The Long Beach headquarters is SCS’ largest office. The lease had 24 months left in the term; SCS needed additional space for growth.
SCS took advantage of the tenant-favorable market conditions by signing an early lease renewal, rather than waiting until the market started to recover and rents increase. SCS achieved an immediate reduction of monthly rent despite increasing its footprint, and secured below-market rates for years.
- Landlord paid for 100% of tenant improvements for the expansion space; secured an additional $400K allowance for the existing premises
- Reduced rental rate by approximately 17%
- Achieved a midterm termination right, increasing flexibility
- Immediately saved $300,000 in last 18 months of original lease term
- Secured enhanced identity through better building signage
- Received $400K in tenant improvement from Landlord