Fieldwork, Inc., a leader in world-class marketing research services and facilities for over 30 years, had a headquarters lease that was expiring in two years in a tightening market with rising rental rates. Fieldwork, Inc.’s top priorities were to maintain their cost effective rental structure for the long term and enhance and remodel their existing space to be reflective of a world-class marketing research firm and to encourage collaboration. In 2014, Fieldwork, Inc. hired Savills Studley to help them accomplish these objectives.
Fieldwork, Inc. enlisted Savills Studley to improve its existing lease structure through renegotiating more favorable provisions, which would allow the firm to upgrade, refurbish and enhance its space, in an effort to maintain a state-of-the-art headquarters in Chicago reflective of its status as a leader in the market research field.
Savills Studley was able to negotiate a lease restructure that protected Fieldwork, Inc.’s existing attractive rate, with a large concession package that effectively compensated them for the extensive remodeling and reconfiguration that met firm’s workplace requirements and fulfilled its long term and short term strategic business goals. If they waited another year, the terms would have been less desirable. Ultimately, the negotiation exceeded the expectations of the client and Savills Studley continues to assist Fieldworks, Inc. in their real estate needs throughout the Chicago metropolitan area.
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