Expansion Challenges: Athens Insurance Services, Inc.
Athens Insurance Services had run out of space at their current location and desperately needed to expand. But their landlord was reluctant to relocate the adjacent tenant, which was the only way to give Athens the space they required. How could Athens avoid a costly relocation?
The Newton Team leveraged its expertise to conduct a thorough analysis of the marketplace. We were able to present the landlord with a well-researched cost-benefit analysis showing the value of keeping Athens by relocating their other tenant. The persuasive information we provided to the landlord resulted in a long-term lease that allowed Athens to expand as needed, without having to relocate.
Our client was able to completely avoid the expenses and hassles of relocating within a competitive Southern California market, instead securing a long-term lease for expanded space at their existing location. The Newton Team’s professional relationship enabled us to persuade the client’s landlord to understand the mutual benefit of allowing our client to expand. Using our resources and our market knowledge about office space needs in Southern California, we were able to provide concrete information that would convince the landlord to do something they had previously refused to do. As a result of our negotiations and advocacy, Athens was able to double their square footage and extend their lease for a number of years. Athens had been referred to us by colleagues at Lee & Associates - Seattle, so both the client and their local brokers experienced the measurable results of how the Newton Team works on behalf of the Lee & Associates network.
“David and his team were able to think outside the box to identify opportunities and create leverage with our landlord….which allowed us to remain in our current space and avoid a costly relocation.”
– Jodi Ellington, CFO, Athens Insurance Services