A tenant rep broker at Cushman & Wakefield brought us in to assist with a small office space for one of their clients in Austin, Texas. The tenant needed a new office suite with 8 private offices, areas for cubicles and workstations, and some open collaborative space - a fairly typical layout. Our meticulous attention to detail during this process would end up saving the client from a costly six-figure mistake.
Creating the ideal space plan for the client's culture and workflow, we scheduled a final space inspection with the landlord broker rep prior to finalizing the lease agreement. It was during this critical phase that our team's thorough due diligence paid off handsomely, resulting in savings exceeding $100,000 over the lease term.
During our site visit, we immediately noticed an overlooked issue that could have resulted in significant costs for the tenant. The demising wall, which separates the suite from the adjoining tenant space, was positioned approximately 15 feet further into the suite than indicated on the landlord's floor plan. This discrepancy equated to 700 square feet of unusable space that the tenant would have been obligated to pay rent for.
To put this into perspective, with average Austin CBD office rental rates ranging from $35 to $50 per square foot annually, the additional 700 square feet would have incurred expenses of at least $24,500 per year. Over a standard 5-year lease term, this oversight could have led to an overpayment exceeding $100,000.
This is an isolated situation that normally shouldn't happen. To prevent this from ever happening to you reach out to Workscape Designs, "The Office Avengers", and we will defend you from this villainous situation.
A tenant rep broker at Cushman & Wakefield brought us in to assist with a small office space for one of their clients in Austin, Texas. The tenant needed a new office suite with 8 private offices, areas for cubicles and workstations, and some open collaborative space - a fairly typical layout. Our meticulous attention to detail during this process would end up saving the client from a costly six-figure mistake.
Creating the ideal space plan for the client's culture and workflow, we scheduled a final space inspection with the landlord broker rep prior to finalizing the lease agreement. It was during this critical phase that our team's thorough due diligence paid off handsomely, resulting in savings exceeding $100,000 over the lease term.
During our site visit, we immediately noticed an overlooked issue that could have resulted in significant costs for the tenant. The demising wall, which separates the suite from the adjoining tenant space, was positioned approximately 15 feet further into the suite than indicated on the landlord's floor plan. This discrepancy equated to 700 square feet of unusable space that the tenant would have been obligated to pay rent for.
To put this into perspective, with average Austin CBD office rental rates ranging from $35 to $50 per square foot annually, the additional 700 square feet would have incurred expenses of at least $24,500 per year. Over a standard 5-year lease term, this oversight could have led to an overpayment exceeding $100,000.
This is an isolated situation that normally shouldn't happen. To prevent this from ever happening to you reach out to Workscape Designs, "The Office Avengers", and we will defend you from this villainous situation.