COMMERCIAL REAL ESTATE

Wiley

Portrait headshot of Samuel F. Smith at Bradley Company commercial real estate broker offices in Indianapolis
Executive Managing Director | Principal
Services Provided
Advisory & Brokerage Services
Tenant Representation
Statistics
± 87,333 SF lease
± 36,159 SF expansion
Client
Wiley & Sons, Inc.

Client
Case Study

Expansion & Lease Renewal

Indianapolis, Indiana

Background

Wiley was a rapidly growing book publisher including the “For Dummies” line. The company had outgrown their 36,000 square-foot space and was in the process of filing an IPO, a partial spin-off from its parent company, International Data Corp. Note:  We have several professionals with substantial client transactional experience prior to joining Bradley Company, which is included in the following case study.

Strategy

Wiley had substantial needs for significant firm expansion capabilities, large floor plates, ample parking, a high image and identity, cost effectiveness and lease flexibility. Bradley Company tenant advisor, Sam Smith, evaluated over 20 sites for a potential build-to-suit.

Results

Sam successfully negotiated an 87,333 SF lease and 36,159 SF expansion at terms $2.00-$3.00/SF below market. The deal also included a six year tax abatement; options to expand at below market rates throughout the 10-year term into the entire building; options to renew at below market terms; large floor plates (36,000 SF); 6/1,000 SF parking; and building signage visible to I-69. Additionally, the turnkey buildout package incorporated substantial upgrades including a computer room, voice and data wiring, and conference and A/V upgrades. Sam has since assisted Wiley & Sons, Inc. on several subleases and an early renewal/ expansion with favorable terms.

STRATEGY

Bradley Company tenant advisor, Sam Smith, evaluated over 20 sites for a potential build-to-suit.

RESULTS

Sam successfully negotiated an 87,333 SF lease and 36,159 SF expansion at terms $2.00-$3.00/SF below market. The deal also included a six year tax abatement; options to expand at below market rates throughout the 10-year term into the entire building; options to renew at below market terms; large floor plates (36,000 SF); 6/1,000 SF parking; and building signage visible to I-69. Additionally, the turnkey buildout package incorporated substantial upgrades including a computer room, voice and data wiring, and conference and A/V upgrades. Sam has since assisted Wiley & Sons, Inc. on several subleases and an early renewal/ expansion with favorable terms.

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