Case Study: Early HQ Renewal Achieved Attractive Cost Savings & Protections

4 Gateway Center, Pittsburgh PA

Carrie was an efficient tenant representative for the renewal of our lease at Four Gateway Center. She was dedicated, tenacious and detailed in her negotiations. I was informed and engaged throughout the process and pleased with the results.

Marty O'Brien, Chairman and CEO Allied Insurance Brokers

Allied Insurance Brokers

Objective Tenant Representation Services

Challenge

Established in 1982, Allied Insurance Brokers is a nationwide insurance and risk management solutions company with retail, wholesale and underwriting operations that focus on the complex, difficult to place risks such as in the crane, scaffold, and human services industries. Some two years prior to the expiration of its headquarters lease and faced with costly operating and tax expense pass throughs, they turned to Carrie for help.

Action

Carrie conducted an analysis of the annual operating and tax expenses at the current building and determined why in a single year taxes had increased nearly 70% and operating expenses increased some 8%, and why both had remained high. Armed with this information, she started renewal negotiations at the current building while identifying relocation alternatives and exploring their viability. After leveraging the competitive market and conducting multiple rounds of negotiations, Carrie secured a renewal lease which resolved all of Allied’s corporate real estate issues and protects them in the future.

Results

  • Renewal negotiations resulted in a $100,000+ cost savings
  • Elimination of costly operating & tax expenses
  • Refurbishments paid by Landlord
  • Rare expansion option
  • Parking at building
  • Renewal option
  • Corporate real estate solution for headquarters office lease

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For more information, contact Carrie S. Holstead at

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

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