CRESCO Real Estate represented New York Life in the expansion of 13,786 square feet and the renewal of 63,366 square feet at The Lakewood Center.

Approach

• Negotiated business terms for contiguous expansion space.
• Negotiated rental rate reductions based on market conditions in exchange for additional lease terms.
• Negotiated a tenant improvement allowance from the landlord for the construction of the new expansion space.

Results

• Acquired the contiguous expansion space New York Life desired.
• Achieved rental rate reduction for the expansion along with the renewal space.
• Successfully negotiated an amiable construction allowance for the expansion space.