CRESCO Real Estate, in conjunction with a California based SIOR, worked to revitalize a sale and relocation requirement which had stalled under the leadership of another brokerage house.

Approach

• Created a fresh approach to the disposition of Advanstar’s 86,000 square foot existing facility.
• Produced three bids from developers eager to fill Advanstar’s 40,000 square foot office need, “setting the market” and creating a sense of urgency.
• Generated a sale with market knowledge and contacted an independent local company in the market to accommodate their rapid growth.
• Reviewed over 70 potential relocation sites and determined that a lease was the best option for the Client.
• Utilized a team of architects (Vocon), engineers and incentive experts to craft a deal in a Class “A” office building.
• Negotiated city and state incentives through Silverlode Consulting.

Results

• Yielded several million net dollars to fuel Advanstar’s growth.
• Created a space which helps Advanstar recruit and retain the highly skilled staff required in the publishing business.
• From beginning to end, including 6 months of space build out, the entire deal took less then 18 months.
• The new efficient space totals 40,000 square feet.