Listen to Our BlogsDock Street Trading: Strategic Tenant Representation for Renewal in Indianapolis
Client Profile:
Dock Street Trading, utilizing a 12,800 SF warehouse space in Park 100, Indianapolis, faced a crucial juncture at a time when vacancy rates were at historic lows. Specializing in logistics and distribution, they required a space that could accommodate their growing operational needs.
Dock Street Trading & Allies Partnership:
Engaging Adam Stephenson and Allies Commercial Realty for tenant representation, Dock Street Trading sought expert guidance in navigating the competitive real estate market. Our team’s involvement was pivotal in evaluating market options well ahead of their lease expiration, a proactive approach that was not traditionally undertaken by the client.
Opportunity and Challenge:
The situation presented a unique challenge, with rental rates continually escalating in the market and a lack of available options within Dock Street Trading’s required size range. Adding to this was the potential threat of their current space being taken over by an expanding neighboring tenant. This complex set of circumstances required a nuanced and strategic approach to secure the best possible outcome for Dock Street Trading.
Analysis:
The Allies team conducted a thorough market analysis, considering the scarcity of suitable spaces and rising costs. This analysis was crucial in developing a strategy to either negotiate favorable terms for renewal or identify a viable relocation option, ensuring Dock Street Trading’s operational continuity and financial viability.
12,800 SF warehouse space in Park 100, Indianapolis, IN
Our Success Stories:
- Achieved significant improvements in their current space, including new LED lighting and fresh office refurbishments.
- Successfully negotiated favorable lease terms, including rent abatement.
Results:
- Maintained Dock Street Trading’s location in Park 100 Business Park.
- Negotiated a below-market rental rate, resulting in substantial cost savings.
- Avoided over $10K in potential moving expenses for the client.
Conclusion:
The successful lease renewal for Dock Street Trading underscores the value of strategic tenant representation by Allies Commercial Realty. Our ability to navigate a challenging market, secure favorable terms, and deliver tailored solutions showcases our commitment to client success in the dynamic Indianapolis real estate market.
Adam and his team had some market insight that we were not aware of, which prompted us to negotiate our lease earlier than we would have traditionally. This gave us incredible leverage in negotiating a favorable lease with excellent terms, concessions and more importantly saving us unneeded moving expenses.
Hector Escobar
Partner
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