It’s just like the rest of life. In commercial real estate deals, proposed solutions that look simple on the surface usually aren’t. Lift the lid, and you’ll find tangles and knots beneath. Because he knew that, our client, when presented with a “simple” deal, called us.
Last January, our client was informed that his tenant would be vacating his 56,000-square-foot industrial building located at 5451 South State Street, Ann Arbor when their lease was up, at the end of 2022. Through friends and business connections, he learned that Navitas, a leader in lithium battery production, wanted to move in.
Simple. On his own, this landlord could have offered Navitas a lease with a January 1, 2023, move-in date and saved himself our commission. But he’s a savvy building owner. He called us.
When we contacted Navitas, company officials told us they wanted to move in by May 1. But the current tenant told us they couldn’t be out that soon. If they’d have to wait 8 months, Navitas would understandably begin to look elsewhere.
We put together a Rubik’s Cube of incentives and workarounds. We negotiated a rent break for both Navitas and the current tenant while at the same time adding 5 years to the lease for our client. His revenue stream wasn’t interrupted for a single day. Everybody left the table happy.
Maybe the lease, purchase, or sale you’re facing seems simple. Or maybe it’s a complicated puzzle. In either case, call us. We negotiate solutions that work for everyone.
