CHALLENGE/OPPORTUNITY
After receiving the guidance of a competitive brokerage firm, the NAACP signed a letter of intent to renew their lease at 1156 15th Street NW at a “market rate.” Expressing the need for a second opinion, the NAACP reached out to the tenant advisory team at TSC Realty Services.
SOLUTION
Upon a thorough review of the NAACP’s current and newly-proposed lease terms, TSC found that the NAACP could restructure the terms of the deal by maintaining their current space with minor tenant improvement dollars and applying the unused improvement allowance as rental abatement.
TSC VALUE-ADD
TSC was able to negotiate an effective rental rate that was $5.00 less than what the competitive brokerage firm had negotiated along with a savings of $10 a square foot less than their current existing rate. The NAACP Washington Bureau is now enjoying a significant cost-savings with upgrades to their suite while reducing their overall costs by 20% a year.