“A Matter of Time”

After becoming totally familiar with the company’s real estate expenditures, based on a review of its lease, rent and escalation bills and contracts for additional services, we recommended that Adaptive Analyzer Technologies renegotiate its lease or leave.

Because the firm was most interested in considering buildings with the least expensive rents, but lacked perspective on the character of properties, Andrews Real Estate Advisors presented locations throughout Manhattan, Brooklyn, Queens, Westchester and New Jersey. We submitted for consideration well over one hundred buildings and took Adaptive Analyzer Technologies’ senior management to forty of the properties.

Financial presentations demonstrated that in the case of a number of properties the rent could be reduced by nearly half. Our ability to obtain a free rent concession period would allow Adaptive Analyzer Technologies to cover the overlapping rent of its existing lease.. Additionally,Andrews Real Estate Advisors development and management experts inspected the buildings and provided analyses of their systems (HVAC, elevators, etc.). This information provided the basis for Adaptive Analyzer Technologies’ management to narrow their focus to two buildings. Serious negotiations were conducted on these properties as well as with the tenant’s existing landlord.

Ultimately, Adaptive Analyzer Technologies’ landlord succumbed to the pressure. He came to a below market rent which was to begin a year before the current lease expiration. A free rent period was negotiated to make the terms more attractive. And a work allowance was provided which would be used for upgrades in air conditioning, electrical power and some structural changes to make the current space more comfortable and suitable to Adaptive Analyzer Technologies’ needs.