Rapid Renewal with Favorable Terms: Scott Insurance Case Study
To take advantage of the soft tenant market while ensuring favorable renewal terms for Scott Insurance.
Since the tenant had been in the space for six years, they chose to stay at their current location and wanted new tenant improvements. The tenant improvements presented a challenge to the clients since they would be in the space while construction took place and their work would be interrupted. Rich Commercial Realty leveraged buildings within a 1-mile radius against the renewal proposal to ensure that Scott Insurance was getting the best renewal terms possible.
RCR negotiated market concessions for a 66 month renewal term, tenant improvements to upgrade the space and after-hours construction to minimize the clients work interruption.
Within 30 days from engaging our services, Scott Insurance renewed its lease for 66 months and received market concessions in the form of free rent and tenant improvements. Minimal client time was invested in this transaction allowing them to remain focused on their business throughout the deal.
“Working with Rich Commercial Realty is always a seamless process,” said Craig Ryder, Chief Financial Officer for Scott Insurance. “They enabled us to focus on our business while they facilitated a speedy renewal on our terms.”