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CASE STUDY / DEAL REVIEW

Oxford Agents: Chase McAteer

Summary:
We helped an oil & gas client relocate their offices from downtown to the City Centre area. They were able to downsize their office footprint, completely eliminate staff parking charges, and capture significant rent savings during this move.

Property Type:Class A Office
Tenant Industry:Downstream O&G
Size:7,614 SF
Submarket:Katy Freeway East
Transaction Type:Relocation
Free Rent:(8) months fully abated
Tenant Improvements:$15psf – $114k
Additional Credits/Reimbursements:
Option to convert $4.50psf allowance to cover other soft costs. Additional option to convert up to $38k unused allowance for rent credit.
Negotiated Discount (%):15%
Parking:
Unreserved parking abated for 2 years, three reserved parking spaces in the parking garage.
Other deal points worth mentioning:ROFR for expansion into adjacent 4,000sf space.
Renewal Option:Yes
Right of First Refusal:
Yes

Chase McAteer

(904) 874-5822
[email protected]

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