Listen to Our BlogsCTG International: Successful Tenant Representation for Relocation in Indianapolis
Client Profile:
CTG International (North America) Inc. faced a significant challenge with their 32,000 SF warehouse space in Park 100, Indianapolis, IN. Upon receiving a proposal for a 20% rental rate increase from their existing landlord, CTG International needed expert guidance to explore their options and make a strategic decision.
CTG International & Allies Partnership:
CTG International engaged Adam Stephenson and Allies Commercial Realty for tenant representation. Our team’s expertise was crucial in identifying potential alternatives and negotiating favorable terms, ultimately leading to a more advantageous sublease agreement close to their existing facility.
Opportunity and Challenge:
CTG International was presented with a renewal proposal from their landlord that exceeded their previous year’s rental rate by over 20%. In a market with vacancy rates around 4.5%, finding suitable options within their size requirement was challenging. The cost, location, and labor considerations were paramount for CTG International, necessitating a comprehensive and adaptable real estate strategy.
Analysis:
The Allies team conducted an in-depth market analysis to understand the available options and the implications of each potential decision. This evaluation was essential in creating leverage for negotiations, whether CTG International chose to renew their current lease or relocate.
32,000 SF warehouse space in Park 100, Indianapolis, IN
Our Success Stories:
- Identified a sublease opportunity offering superior terms.
- Negotiated a significant reduction in rent from the current landlord.
Results:
- Successfully retained CTG International’s presence in Park 100 Business Park, ensuring operational consistency.
- Secured four months of rent abatement, aiding in financial savings and transition.
- Achieved a rental rate 17% lower than the landlord’s initial proposal, ensuring substantial cost savings for CTG International.
Conclusion:
The successful relocation strategy for CTG International demonstrates the value of comprehensive tenant representation by Allies Commercial Realty. Our ability to navigate a challenging market, understand our client’s unique needs, and secure advantageous terms underlines our dedication to providing strategic solutions that align with our clients’ long-term business objectives.
We, CTG NA, are very appreciative of Adam Stephenson’s long time support over the past year. We historically have not used a Tenant Rep broker in the past, however, without Adam’s professional knowledge and hard work, we could not have made it by ourselves. And the most professional thing he did was continuously guide us to prepare us for the relocation, as it was very complicated. We became friends by the end of the transaction as well.”
Bob Zhang
President CTG NA
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