The company was weighing up the costs and benefits of renegotiating their existing lease versus relocating to a new, fully-fitted office space. To support in the analysis phase, Globaleye appointed Tenant CS to investigate any cost saving opportunities or market alternatives that might justify a move.
Tenant CS undertook the following:
Tenant CS renegotiated the rental rate in Globaleye’s current building from $10 down to $9 per sq. ft./month (total savings of $50,000 over one year) and reduced the security deposit from six months to three months. As a result, Globaleye decided that staying in their current premises was the most cost effective solution and renewed their lease for another year.