Success Stories

Client Situation

Our client had outgrown space and lease was about to expire.  Landlord not willing to extend lease or offer additional space since building was in process of being sold and building was enjoying high occupancy.  Landlord also had another tenant that wanted our client’s existing space.

 

Bayshore Partners Solution

Worked with the President of the building rep firm vs the local agent to expedite negotiations and relocate to another suite moving from 2000 sf to 2500 sf.

 

Results

Tenant was able to holdover at same rate in old space while Landlord made construction improvements to the new space. Intuitional buyers approved all terms.  No increase in the per square foot rate.

Client Situation

Fast growth caused our consulting client to expand into 10,000 sq. ft. and split workspace on two floors of a mid-rise building.  Negative impact stemmed from rent inefficiencies and adverse effect on workforce culture.

 

Bayshore Partner solution

 

Bayshore Partners organized guided tours of very successful companies who have used creative space design to accommodate multi-generational workforce.  Our client gained new understanding of how an ideal workspace affects culture and productivity.  Knowing exactly what we wanted empowered exhaustive negotiations with Landlord including space planning and pricing on comparable desired construction finishes. 

 

Results

Creativity cut costs. Client was able to consolidate their business by relocating to another floor in the building cutting their space by 20% and rent by 17%.  Landlord provided all construction in new space in accordance to the Tenant’s specifications.

Client Situation

After a decade of tenancy in a downtown Chicago location, a client anticipated increased demand for space would also mean a prohibitive increase in leasing costs.

 

Bayshore Partners Solution

Bayshore conducted a market survey to demonstrate to the landlord that the stability and unbroken cash flow of retaining our Class A tenant outweighed the risks of securing a new tenant, even at a higher rate. 

 

Results

The client obtained a renewed lease for six years at 10% below existing building rates. The client also saved valuable management time that would have been needed to oversee a move to a new location.

 

Client Situation

An insurance company needed to create a set of working standards for selecting, designing and constructing office locations consistent with its 100 year heritage yet flexible enough to mesh with the needs and requirements of more than 120 markets nationally.

 

Bayshore Partners Solution

Bayshore conducted an audit of cross-functional teams at the client’s HQ and field offices to learn about the company’s history, products, competition, geographic strategy and culture. This audit led to the creation of a tool to allow management to proactively make real estate decisions.

 

Results

A new standards guide was immediately adopted and implemented in more than 40 markets with planned roll out to cover additional markets as the need arise.

Client Situation

A historic SEC precedent was about to occur: four public companies had an opportunity to merge and form a single concern. In order to complete the transaction, the investment brokerage firm needed to project the value of the real estate liability of nearly 500 locations as part of the due diligence required for merger approval.

 

Bayshore Partners Solution

Bayshore used their extensive database of market information to assign values to the current leases in the major markets where the companies were located and verified that data with audits of landlords, owners and tenants. Bayshore created proprietary software to combine the client and market information to generate the projections needed by the investment bankers and consultants.

 

Results

The SEC approved the merger. In addition, the client was able to finance the merger based on the balance sheet projections of which real estate projections comprised a major portion.

Client Situation

A client faced the classic dilemma of staying in the city or moving to the suburbs. While historic ties were strong, a move to the suburbs might yield opportunities to enjoy financial and physical improvements. Would the move put the client’s sterling reputation as respected member of the community at risk?

 

Bayshore Partners Solution

Bayshore Partners demonstrated that a move to the suburbs was in the company’s best interest and worked directly with their Board of Directors to prepare its case to the company’s clients and centers of influence including: bankers, attorneys, City Council members and the city’s Mayor.

 

Results

The client successfully moved to the suburbs. Most importantly, the company retained all of its clients and retained its reputation among the area’s business leaders. 

Client Situation

A major healthcare corporation needed to dispose of a large number of locations in order to minimize duplication of facilities. Timing was such that the client could not use existing resources to meet the deadline.

 

Bayshore Partners Solution

Bayshore Partners acted as their real estate department and developed a proprietary process to analyze leases, evaluate risk, negotiate and execute the disposition of excess facilities. A customized database was created to report and track information which continued to be used after the disposition phase was completed.

 

Results

More than 330 locations were disposed of in a 24 month period. The company saved $11 million in outstanding lease obligations and did not need to use additional resources to oversee the activities.