Case Study: Maneuvering from start up through growth of the company

One PPG Place, Pittsburgh PA

Carrie Holstead is a trusted advisor on whom I have relied to resolve all of Forever’s corporate real estate needs. She has negotiated multiple transactions on our behalf to align our office leasing needs with those of our growing company, and has always delivered superior results. I will be working with Carrie Holstead in the future.

Glen Meakem, Founder, President and CEO Forever, Inc.

Forever, Inc.

Challenge

Forever was founded in 2012 by Glen Meakem who previously founded the highly successful business-to-business ecommerce company, FreeMarkets, Inc. Forever is the first of its kind permanent storage site for people and families to preserve and share their memories for generations. As soon as they progressed to an early stage start-up company, the Founder turned to Carrie to determine the square footage needed and identify the office space best suited to Forever’s needs in either downtown or suburban Pittsburgh.

Action

Carrie completed a needs analysis, prepared a program to identify the square footage required, completed a market survey of space availabilities in targeted suburban and downtown areas of Pittsburgh, and toured buildings of further interest. Afterwards, she obtained proposals from the top buildings, leveraged the market to identify the best leasing opportunity, and negotiated attractive business terms at this building which helped provide Forever with a solid foundation for success.

Results

  • Carrie negotiated a rental rate some $4.50 / SF below market
  • Short term lease to provide flexibility
  • Prestigious space with above standard finishes
  • Tenant improvement allowance of some $80,000
  • Identified the best person to manage and fast track tenant improvements to achieve a critical move in date
  • Right to lease parking spaces in the building subject to a lease
  • Right of first refusal on adjacent space at fixed rate
  • Renewal option
  • Forever has subsequently enlisted Carrie multiple times

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For more information, contact Carrie S. Holstead at

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

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