Services Provided:

Architecture, Brokerage, Project Management

Industries:

Office

Location

Golden Valley, MN

Size

20,500 SF

Broker:

Jim Damiani

Project Summary

Description & Transfer Process

In the spring of 2012, Jim Damiani of Colliers was hired by Spanlink to analyze their office space needs. It was determined that Spanlink’s culture did not require their current Class A building facility and in order to reduce rental costs, Jim mentioned office showroom product. In conjunction with introducing a product without a rentable usable factor (office showroom), a savings of 16% on space size alone, the team also determined some uses could be outsourced.

Results

Jim found an office showroom building that perfectly fit Spanlink’s needs. The Landlord was in the process of negotiating a lease on the space when Jim approached them. Leveraging his relationship with the Landlord on previous deals and a future large tenant representation assignment to turn the deal Spanlink’s way.

With diligent architectural planning, Spanlink was able to reduce their space size from 56,000 square feet to 20,500 square feet. By changing office product type we were able to reduce the per square foot rate from $30 to $17 square foot gross or 43%.

Overall, Spanlink was able to reduce their space size by another 63%. The total monthly savings after the move was an incredible 80%.

Spanlink moved into their new Class A facility in mid November 2012.