COMMERCIAL REAL ESTATE
Flex Space Leasing | CRS of Indianapolis
Services Provided
Tenant Representation
Statistics
± 12,525 SF
Client
Content Recovery Specialists
Client
Case Study
1740 Wales Avenue
Indianapolis, IN 46218
Background
Mitch Doner at Bradley Company Indianapolis was engaged to facilitate the procurement of a flex space to serve as the debut location in Indiana for a content recovery and restoration franchise. Content Recovery Specialists of Indianapolis (“CRS”) was a newly-formed franchise and was needing to secure operational and warehousing space in Marion County as soon as possible. After he consulted with CRS for a handful of days to understand their goals, objectives, expectations, and specific criteria for a proposed space, Mitch educated CRS on the performance status of the nearby submarkets so that they may understand the procedures and prospective timeline of securing space. CRS required the services of a Broker who was intimately with all submarkets within Marion County as well as one who was capable of negotiating a Tenant-favorable Lease Agreement or Purchase Agreement with flexible terms.
Strategy
Shortly after composing a list of prospective offerings that may suit CRS’ current commercial real estate requirement, Mitch gathered information for over thirty five (35) offerings that were worthy of consideration, including options for sale and for lease. CRS’ primary objective was to acquire a building suitable for their need, but they would be willing to entertain leasing a facility if it provided them with additional flexibility and a limited fiscal commitment level. In a market where financing conditions were
the component that was affecting the market in the most impactful way and where the space desired was the asset type in the highest demand, it was of utmost importance to develop a solution that did not break CRS’ bank, offered them flexibility to perform construction, and still leveraged a sizable Landlord-provided construction allowance.
Results
After entertaining lease options for nearly (4) months, then entertaining acquisition scenarios for over (3) months, it was determined that leasing a facility was the preferred route. A Lease Agreement was then negotiated within (6) weeks for a location that was toured near the beginning of the assignment. Mitch not only assisted CRS with the procurement of the space that suit their commercial real estate requirement, but he also arranged the introduction of the service providers for CRS’ property insurance, construction team needed for the build-out of the space, as well as other ancillary service and referral partners.
STRATEGY
RESULTS
After entertaining lease options for nearly (4) months, then entertaining acquisition scenarios for over (3) months, it was determined that leasing a facility was the preferred route. A Lease Agreement was then negotiated within (6) weeks for a location that was toured near the beginning of the assignment. Mitch not only assisted CRS with the procurement of the space that suit their commercial real estate requirement, but he also arranged the introduction of the service providers for CRS’ property insurance, construction team needed for the build-out of the space, as well as other ancillary service and referral partners.
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