Medical Office Relocation & Expansion
The Jefferson | 105,132 RSF
Challenge
Evaluate commercial real estate options to maximize client’s healthcare operations and improve operating efficiencies while accommodating practice growth. Negotiations with tenant’s current landlord were reflective of a landlord leveraged commercial real estate market. Landlord treated client as a captive tenant making minimal effort to accommodate request for a favorable rental rate and tenant build out allowance for a contemplated renewal and expansion.
Strategy & Relationship
Mutual Trust having represented its client for approximately 25 years had developed an excellent relationship that fostered trust based upon performance and results. This formed the basis of the strategy moving forward with the objective to obtain proposals in the market to gain leveraged cooperation with the existing landlord as current tenant had been at its existing location for approximately 50 years.
Results
Mutual Trust Corporate Real Estate along with its construction project manager provided unique data and proposals that yielded in a new leverage to unseat the current landlords captive hold on our client. The result provided a clear solution to an expansion and relocation opportunity for a new flagship location in Austin’s medical center. The negotiation resulted in a long-term favorable lease terms far exceeding its current landlord’s proposal. Furthermore, the negotiated lease met stringent medical requirements and most importantly, the negotiation achieved one of Austin’s highest paid tenant build out allowances in the market at that time.
