Southfield, MI
Stout Risius Ross (SRR) is a global financial and operational advisory firm. Their existing lease was expiring and they wanted to improve their space; better aligning it with their image, and enhancing exposure to a larger client base.
Plante Moran CRESA assisted SRR in evaluating available options, and securing a highly cost effective lease for the top two floors with significant signage in a high profile suburban office building.
Challenges
Real estate strategy: The firm’s partners needed to develop a real estate strategy, using solid data to make a well thought out and unified decision. Lease Expiration: The firm’s lease was expiring. They needed to evaluate the economic implications of their relocation options. Location: SRR wanted to find a central location that was easily accessible to employees, clients, referral sources and airports.
Solutions
Plante Moran CRESA evaluated facility relocation options including lease, buy and build, comparing capital and operational costs, risk and schedule. This independent analysis delivered the tool to reach consensus among the six firm shareholders. PMC negotiated an excellent rental rate and tenant improvement allowance. By locating in the top two floors of the Southfield Town Center, SRR was able to display their name prominently on the building and increase their space by 30 percent, at a lower total occupany cost than their previous rental rate.
Project Details
- Completion: 2008
- Size: 37,500 sq. ft.
- Services: Market Survey, Lease/Buy/Build Financial Modeling, Tenant Representation - leasing, Procurement of Vendors, Permitting