TAMPA, Fla. (Oct. 16, 2012) – A lot of out-of-the-box thinking went into working toward an agreement for Checkpoint Technologies, Inc. to sign a 7,700-square-foot lease of an office property at 13603 W. Hillsborough Avenue in Tampa.
The property, which had been vacant for more than three years, is in a prominent location with high visibility but is significantly larger than what most Tampa Bay area office users are currently seeking.
Theresa Margaris of Commercial Asset Partners (CAP) Realty, who represented Checkpoint Technologies, and Mark Ganier, broker associate at Re/Max Realtec Group, Inc., who represented the landlord, a private individual named Shelby Randall, were creative in seeking solutions to make the deal work for all involved.
“Owners have to be flexible with a property like this one,” said Margaris. “In addition to helping align the landlord’s expectations with how it fits in today’s market, we looked for ways to offset expenses for Checkpoint, which is looking at this location as its headquarters.”
For example, to negotiate a more affordable rental rate, Checkpoint Technologies agreed to pay for significant tenant improvements, including installing new carpet.
In addition, Margaris helped coordinate with a nearby tenant that shares parking with Checkpoint Technologies’ new location to piggyback on common-area maintenance services. For instance, the two tenants will share the costs of trash removal, landscaping and other external maintenance issues to bring down overall occupancy costs for both.
Lastly, the property includes a large training room with a raised floor, one control room and a server room. While Checkpoint Technologies, an IT software consulting company, will use that room for its intended purpose occasionally, Margaris recommended the company consider sub-leasing the space to external groups, the income from which will help offset its rent.
“Checkpoint Technologies outgrew their last space in three years,” said Margaris. “They were looking for a great location that gives them a more prominent image and room to continue growing, so this is a great fit.”
About Commercial Asset Partners Realty: One of the top mid-sized commercial real estate companies in the Tampa Bay area, CAP Realty handles leasing and sales of retail, office and industrial properties, along with helping clients with real estate investment sales and land transactions. Based in Trinity, Fla., Broker-Owner Heidi Tuttle-Beisner and her team have built a company that has the experience and resources to handle a wide range of assignments, while offering a high level of personal service for each client. For more information, see the company’s website at www.CapRealtyPartners.com.