Signature Consultants
Fort Lauderdale, FL
Tenant Advisory Services –
Occupancy Cost Reduction Solution
December 30, 2009

Opportunity/Challenge

Signature Consultants is a 16 year old staffing firm that provides staffing service in the fields of information technology, financing and accounting with clients such as Alcoa, Bristol Myers Squibb, GMAC and KPMG Peat Marwick. Sig-Consult approached Commercial Florida to execute on their business objectives to reduce their occupancy costs at the corporate headquarters office in Fort Lauderdale, Florida.  Sig-Consult had twenty-four (24) months remain on their existing lease term in a near thirty (30%) percent vacant submarket.    With the extended lease term and little opportunity to sublease any portion of Sig-Consults office space based upon market conditions, Commercial Florida commenced negotiations with Sig-Consults existing Landlord.

Solution 

• Extend Sig-Consults lease term from twenty-four (24) months to sixty (60) months.
• Reduce Sig-Consults rental rate from $18.00 NNN to $16.00 NNN. 
• Sig-Consult surrendered thirty-five (35%) percent of their office space that they were not currently using. 
• Commercial Florida was able to capitalize on its excellent relationship with the landlord to expedite a favorable transaction for Sig-Consult.

Value Added by Commercial Florida

• Negotiated an eleven (11%) percent reduction in rental costs.
• Saved Sig-Consult over $250,000 by surrendering unused office space.
• Sig-Consults exceeded its economic goal of occupancy cost savings.

Hillsboro Center
Deerfield Beach, FL
Project Agency Leasing-
Increasing Occupancy
1/29/2010

Opportunity/Challenge

Hillsboro Center is a five (5) building office complex consisting of over 225,000 square feet located at Broward and Palm Beach County line.  Commercial Florida was retained by Parkway Properties (NYSE Symbol: PKY) to assume the project leasing agency.  At the time the property had lost its major occupant (72,000 square foot real estate mortgage provider) that had fallen do to real estate downturn in 2008.  There had been little leasing activity at the property in the prior eighteen months and the opportunity lied in reintroducing the complex to the real estate brokerage and business communities in Broward and Palm Beach Counties.

 
Solution

Commercial Florida developed an aggressive marketing campaign to increase awareness of Hillsboro Center in the tenant and brokerage communities.  The campaign focused on a specifically designed ‘units of activities’ marketing program for the property.  In order to showcase the project to the brokerage community Commercial Florida hosted the NAIOP bus tour luncheon and secured the cover of Black’s Real Estate Guide.  In addition customer and broker incentive program were established where the prospective tenants would receive relocation allowances in addition to rental abatement and the highest level of customer service in the marketplace.  Coopering brokers received cash bonuses in addition to the full commissions being offered.  The result was eight (8) new lease transactions in the first 120 days of the assignment.

Value Added By Commercial Florida

• Implementation and execution of a pre-approved proactive marketing campaign
• Successful aggressive marketing for the project have increased the buildings by nine (9%) percent
• Ninety-six (96%) tenant retention
• Increase of project awareness