Terminix, recently signed a new office space lease to
remain in their current office space. They were able restructure their current office space lease and an early extension for
15,762 square feet for their regional contact center in Norcross. Terminix will
not only reduce their rental costs by 20 percent , they will also receive
capital for improvements to the entrance
and lobby of the their office.
Many companies are looking to reduce their real estate costs by taking advantage of current market pricing and conditions. A creative way to do this is to restructure your current lease through an Extend and Blend leasing agreement. The Extend and Blend is simple amendment to a current lease that extends the length of the lease and usually includes additional incentives from the building owner. These incentives can include reductions in rental rates, operating expenses and in some cases tenant improvements.
Terminix was able to reduce their real estate costs by
planning early and signing an extension while they still had more than a year
left on their current office lease. Because the office space vacancy rate for
the office submarket is high and Terminix is in a growth phase , the landlord
was motivated to keep Terminix as a tenant in their building. Terminix
announced this year that they would be hiring additional workers at this
regional call center.
For more information on the Extend and Blend lease program
please download the Extend and Blend leasing program brochure.
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