Rent24 Coworking

default image

We are a provider of coworking and coliving spaces, with spaces around the Globe, but predominantly in Europe. During our expansion in the Chicago market, Tenant Advisory Group assisted us in purchasing a floor of an office building at 9 W. Washington. Because we didn’t have banking set up in America yet, Tenant Advisory Group offered to pay up front for the inspector costs as well as the HVAC contractor fees, going above and beyond to help us bridge the gap as we opened our first locations in the US. With Bill’s expert guidance he was able to connect us to a good banking relationship and he and TAG supported us through the purchasing a full floor at 9 W. Washington. Through the closing process TAG also helped negotiate more favorable terms in the sales contract and added far more value to us than the fee that they earned in doing so.

We had a similar situation in New York as we had in Chicago where prior to meeting Bill we had already negotiated business terms for our new space. Bill came in and was able to point out a tremendous amount of savings. First of all, we had the lease commencement date as the same date as the lease signing, yet we would have still needed time to build the space. Bill not only negotiated a lease commencement to start after the completion of the buildout, he also got us 24 months of free rent, amounting to $15M in savings, saved us over $20M by reducing the rental rate, doubled the tenant Improvement dollars to add an additional $6.75M in tenant improvement, and reduced the security deposit by 50% that could then burn off over time. Without Bill’s expert guidance and selflessness in pushing on our behalf rather than closing the deal so he could just get paid right away, we saved an astronomical amount of money. Thank you so much for your efforts and professionalism.

By the time we met Bill through our attorney, we had already negotiated terms which we thought were very fair. Bill reviewed our offer and pointed out numerous places to push back. After working with TAG we were able to achieve an additional $3.5M in rent reduction, an additional $5.25M in free rent, an additional $10M in tenant improvement dollars, and all this while reducing our security deposit by 50% as well as having it burn off over time. We thought we had done a good job and then Bill came in to add an additional $18.75M in value. Incredible!

May 13, 2019

Share :
Related Posts