USCIS Southern Florida

Highlights

• Client was facing four (4) lease expirations at the same time for the same GSA tenant in South Florida. 
• CBRE FLAG worked with the client 2-1/2 years before the lease expiration dates to develop comprehensive unsolicited proposals with the intention to complete 100% renewals with very similar leases.

Challenge

• GSA advertised the lease requirements to the market 22 months in advance of the lease expiration for 10 year, 7-year firm term leases.
• This Landlord typically self-performed all lease renewals but determined that their workload and the critical nature of these renewals warranted hiring CBRE FLAG.
• The Client was looking for aggressive renewal assumptions, being: 100% renewals in place, increases in rent, 10-year firm term leases, and minimized tenant improvement costs.
• Client was looking for renewals to be completed in advance of lease expirations for capital market events.

Results

• CBRE FLAG was successful in negotiating all four (4) lease renewals more than six (6) months in advance of their expiration date at 100% of the space leased at increased rents for 10-year firm terms.
• CBRE FLAG prepared unsolicited proposal packages and submitted them to GSA shortly after the advertisements were posted for 10-year firm term leases.
  Detailed maintenance plans were negotiated to respond to tenant concerns about longer term leases.