Corporate

Realty

Consultants

Situation:

Allstate tasked CRC to find a location for a law office in Downtown Manhattan.  They wanted it close to the Courts, in a class B+ to A- space. Since this was a legal office it was critical to be within walking distance to the courts.

Results:

1. ✦    CRC’s extreme due diligence uncovered 40 alternatives.   
   

2. ✦    Market rent = $40+ psf - CRC negotiated rent $28 psf.
   

3. ✦    Obtained $45 psf build-out allowance & $2 psf moving allowance.
   

4. ✦    Obtained 10 months free rent.
   

5. ✦    Class A building, walking distance from courts, next to mass transit.

Allstate Insurance – New York City, NY

Building Type:   Office

Sq. Ft.:              30,000

Saved $:            $7.8 M

Tenant Representation

Copyright - Corporate Realty Consultants - 2010