Big 5 Electronics was an existing Bailes & Associates, Inc. client. Their lease was not due to expire for eight months, but with a change in the industrial market rents, Bailes & Associates, Inc. felt it would be in the client’s best interests to request an early renewal at a lower base rent or move to a location with a more competitive rate.
Bailes & Associates, Inc. went to the client and suggested that we review his current industrial space needs. After our analysis, we gave a proposal for early renewal to the landlord, who accepted the proposal.
Bailes & Associates, Inc. lowered Big 5 Electronics’ base rent, got three months of free rent and some minor tenant improvements. The savings to our client was approximately $30,000.