Reimbursement Services Incorporated

Client Situation

Reimbursement Services Incorporated (RSI), a firm specializing in benefit outsourcing, occupied leased space in the dense South Jersey market, with limited expansion opportunities or occupancy alternatives. RSI’s steady growth was inhibited within its current Landlord’s portfolio, as tight market conditions favored the Landlord’s existing larger credit tenants.

Consideration Analysis

Studley (now Savills Studley) was engaged by RSI to help develop a 10 year growth strategy for the firm’s space needs, and find alternatives that would help upgrade the firm’s overall image. Studley conducted a rapid and extensive review of all possible opportunities within the South Jersey marketplace, in order to ensure the viability of any build-to-suit or purchase alternatives.

Result

After evaluating all financial possibilities and creating the maximum possible leverage in the negotiations, the optimum solution proved to be a new lease in a newly constructed building at 501 Fellowship Road in Mt. Laurel, NJ to be delivered prior to RSI’s lease expiration. Studley and RSI created a flexible long-term strategy that addresses the firm’s growth projections and space needs.

By working with both the developer and RSI’s architect, Studley helped negotiate a turn-key delivery of the space, enabling RSI to hedge against increasing construction costs, ensure the integrity and quality of the design, and minimize RSI’s out-of-pocket costs. By negotiating market level expansions that included an amortized original tenant improvement allowance, RSI was ensured the ability to grow within the new building with the same finish level as its initial suite, at the lowest possible cost.

Summary Information

  • Property: 501 Fellowship Road, Mt. Laurel, NJ
  • Transaction Size: 23,000 SF
  • Transaction Type: Lease Relocation
  • Service Line: Office

Meet the Team

Wegfahrt, Art M.

Wegfahrt, Art M.

Corporate Managing Director
215.563.4000

McGrath, Patrick W.

McGrath, Patrick W.

Senior Managing Director, International Desk
212.326.8665

Monahan, Timothy B.

Monahan, Timothy B.

Senior Managing Director
215.563.4000