Wellpoint

Assignment:
Acquire 100% additional space and secure several expansion rights to accommodate anticipated growth.Develop state-of-the-art Call Center that would remain operational irrespective of interruption of utility services and provide for the orderly shut down and transfer of all communications and data services.Maintain no business interruption throughout facility relocation.

Strategy:
Created leverage against current landlord with new building developments in the near North suburban real estate market.Completed an exhaustive search of all potential direct, sublease and build to suit opportunities in the near North Suburbs.Aggressively leveraged lease renegotiation with current Landlord based on significant loss of building value if tenant relocated.

Benefits Achieved:
Expanded square footage by 103% and reduced per sq. foot rent costs 29%.Tenant improvement allowance 33% above market.Acquired multiple fixed expansion rights, including Right of First Offer and Right of First Refusal for the entire building.No out of pocket costs to tenant; obtained $1M of furniture.Obtained one year of gross free rent

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