Multiple Markets
Pressley Ridge
Objective Tenant Representation Services
Challenge
Pressley Ridge is a nonprofit organization established in 1832 in Pennsylvania. Today, they provide services in Education, Treatment Foster Care, Residential, and Community-based programs to over 6,000 children, adults and families annually in six states and have a budget in excess of $80 million. After initially turning to Carrie to provide a strategic corporate real estate solution for its administrative headquarters in Pittsburgh, Pressley Ridge turned to Carrie to identify and implement strategic corporate real estate solutions in multiple states.
Action
Carrie worked with the chief financial officer and local directors to identify Pressley Ridge's office needs in multiple markets and then developed and implemented strategic and customized corporate real estate solutions for its portfolio of office leases as a conflict-free advocate for Pressley Ridge, including renewals, relocations and dispositions.
Results
- Cost savings up to 20% for 146,000 SF of office space solutions in multiple markets
- Early renewals reduced cost & locked in lower rental rates
- Tenant improvement allowances
- Updated base years for operating & tax expenses
- Flexibility to expand
- Termination options
- Renewal options
