Case Study: Pittsburgh prevailed in competition with other markets

Pittsburgh, PA

"For almost 27 years I have handled the real estate needs for my company which is an international provider of corporate travel. As a result, I have worked with many brokers across the United States, Canada and Latin America. Carrie Holstead is easily in the top five percent of my favorite brokers. Not only does she have an extensive knowledge of the market, but she understands the legal issues of her market and the leases in a way many brokers do not. She is friendly, responsive, and a strong advocate for the needs of her clients. I look forward to working with Carrie again."

Charla Johnson, Leasing Manager BCD Travel

BCD Travel

Objective tenant representation services

Challenge

BCD Group is a market leader in the travel industry. The privately owned company was founded in 1975 and consists of BCD Travel (global corporate travel management), Travix (online travel), Park 'N Fly (off-airport parking), and joint ventures Parkmobile International (mobile parking applications) and AERTrade International (consolidating and fulfullment). BCD Group employs over 13,000 people and operates in 100+ countries with recent sales of $25.4 billion (U.S. dollars). BCD Travel needed to determine if renewing or relocating its Pittsburgh office presented the best leasing alternative and if expansion should occur in Pittsburgh or elsewhere.

Action

Carrie worked with the corporate real estate department to identify BCD Travel's corporate reeal estate needs. Immediately thereafter, she identified viable spaces and provided building and market insights that substantiated Pittsburgh as the best location for expansion. The focus quickly became expanding at the current location while keeping other options open. Several rounds of negotiations ensued and a number of hurdles were ultimately overcome that paved the way for a renewal and expansion at the preferred location.

Results

  • Attractive base rent for renewal and expansion
  • Turnkey tenant improvements by landlord
  • Free rent
  • Updated base year
  • Ongoing right of first refusal

See More Case Studies

Get Results for Your Business

For more information, contact Carrie S. Holstead at

+1 (412) 255- 3737
carrie@carrieholstead.com

Contact Carrie Today and Get Results