Case Studies
Healthspring of Illinois
CHALLENGE
Devise a short term real estate strategy for Healthspring of Illinois (HSIL) Midwest Headquarters in 11,000 SF; Rosemont, Illinois.
SOLUTION
CCRE was able to restructure the lease and expand the suite by 4,000 SF; 12 months prior to the exsisting lease expiration. The new suite will accommodate HSIL’s short term expansion needs in the Midwest region.
RESULTS
Below market rental rate, coupled with with a substantial concessions package resulted in a 15% savings. This allowed HSIL to expand their business in the region while maintaining flexible lease terms.
The Customer Group
CHALLENGE
Faced with dramatic growth The Customer Group (“TCG’) along with two other companies had outgrown their current space. Along with having remaining term on their existing lease, the three companies all had dramatically different needs. To capture and improve on their current synergies it was imperative to find a single space that could satisfy all of their needs.
SOLUTION
After testing the market and exploring all options CCRE was able to successfully identify and negotiate a favorable lease in a building that was within their current landlord’s portfolio allowing TCG to vacate their current premises at no cost.
RESULTS
Through exploring many different options and scenarios CCRE tenant advisors were able to help shape and formulate TCG’s optimal solution. Through their achieved economies of scale TCG and partnering companies were able to avoid unnecessary duplications and inefficiencies which resulted in significant monetary savings.
Gatehouse Media
CHALLENGE
Devise a long term real estate strategy for Gatehouse Media Suburban Newspapers headquarters facility totaling 25,000 sf in Downers Grove, IL.
SOLUTION
CCRE was able to find a local space user to purchase Gatehouse’s current facility. From there, we were able to negotiate a 12 year lease with economic terms far below market expectations. The new facility will accommodate the agency’s long term real estate needs.
RESULTS
Below market rental rate, coupled with a substantial concession package resulted in a 30% savings. This allowed Gatehouse to control occupancy in a rising market.
Care Centers of Illinois
CHALLENGE
Faced with an three expiring leases, Care Centers of Illinois (CCIL) engaged CCRE to represent their interest in the consolidation/relocation/expansion for their Midwest Headquarters.
SOLUTION
CCRE successfully negotiated an extremely favorable lease at a building where the company was occupying space. Throughout the process we performed detailed building financial analysis as well as due diligence on potential expansion premises at the complex.
RESULTS
CCRE tenant advisors leveraged CCIL’s position and negotiated above-market concessions for tenant improvements, rental abatement and a relocation allowance. The rental rate negotiated was approximately 15% below rental rates charged for similar buildings in the O’Hare marketplace.
