Case Histories
Customer Feedback
Paul Suzman is someone with a tremendous amount of business sense and insight and I have very much enjoyed working with him and Don MacLaren at Officelease. They cut right to the core of things and add polish to all of our discussions with property developers and prospective landlords. Paul is a critical thinker, not afraid to say what is on his mind and will ask the hard questions that need asking
- Debbie Brown, VP NW Region, Bright Horizons 425 576 5333 (direct dial)
“I’ve enjoyed working with you immensely and greatly appreciated your help on bringing this complicated deal to a successful conclusion. I know that we’re not the easiest client with which to work. Your broad knowledge of this market, attention to detail, and focus on practical solutions was invaluable. You were always available and brought a higher than usual level of sophisticated experience that was reassuring to all the parties.
I look forward to working with you on our next transaction. Again, many thanks for helping bring CHA II to a successful conclusion”.
John G. Casagrande, Senior Counsel, Special Programs. Bright Horizons Family Solutions
617-673-8871 (direct dial)
Bright Horizons
Bright Horizons Family Solutions is the world's leading provider of employer-sponsored child care, early education, and work/life solutions with locations in the United States, Europe, and Canada , Bright Horizons has created more employer-sponsored child care and early education programs than anyone else and they specialize in customizing programs to meet employers' unique needs.
Challenge
Multiple space acquisitions since 1988 in the Puget Sound all requiring contiguous playground space. Initially many building owners were reluctant to include this sort of use in which they saw limited added value, either to their developments or for their tenants
Solution
As the designated Seattle area broker for this highly successful national company (previously known as The Learning Garden), OfficeLease has been responsible for identifying and and negotiating most of its leases around the greater Seattle area. BH’s market is primarily corporate, and most locations have been on corporate campuses or in office parks. With the increasing influence of women in the workplace and corporations increasingly family-friendly stance, childcare is finally seen by both employers and developers respectively as a necessary amenity which helps attract and retain key tenants or personnel
Results
Multiple space acquisitions. Most recently is a prelease in Touchstone’s W8th high-rise project opening in Seattle’s downtown in 2009, and a 50,000SF build to suit for Chestnut Hill Academy (BH’s Elementary School Division) which opened September 2007 near Factoria on the Eastside
Customer Feedback
“Paul located a site that was not on the market and owned by an individual who was not interested in selling. He individually convinced the owner to consider a sale worked effectively with this eclectic individual through due diligence, and transaction closure. Paul’s experience and skill were apparent as he thought through the many nuances of purchasing such a large facility while developing his negotiating strategy, and he and his team at OfficeLease expertly orchestrated the negotiation resulting in a purchase price at the most optimistic end of the group’s expectations.
Paul did a great job of keeping the entire team on track to efficiently close the purchase. This included effectively working through a multitude of sometimes complex issues with our attorneys. Our project managers, the property owner and others. It is difficult to imagine that we would have ended up in such an ideal situation without OfficeLease’s involvement."
- Peter Kern, VP Finance, Blue Origin. (253) 437 9322
Blue Origin
Blue Origin is a privately-funded aerospace development company whose vertical take-off, vertical landing vehicles are being designed to take a small number of astronauts on a sub-orbital journey into space. The company is owned by Amazon.com founder Jeff Bezos and headquartered in a 26 acre industrial center in the Kent area.
Challenge
Blue Origin was outgrowing their first location, a 53,000 SF facility that OfficeLease helped them purchase in 2000. The new facility had to accommodate headquarters, research and development, and extra high bay to accommodate vehicle assembly. In addition acreage were needed for an engine test stand. Finding appropriately zoned property in the densely populated Puget Sound with sufficient land was a serious challenge. All the work was performed under a strict NDA. And there was an emphasis on good existing environmental conditions
Solution
After exploring several alternatives over an 18 month period, OfficeLease focused its efforts on a property that was not on the market and whose owner had no interest in selling. The former Robbins Company HQ in Kent in which the tunnel boring machines for the ‘Chunnel’ were assembled, and which was then leased to a variety of industrial users. The property now includes a 300,000+ SF structure and a 26 acre campus to accommodate Blue Origin’s unique needs
Customer Feedback
“In our early strategizing and evaluation options, Paul’s knowledge of Seattle real estate, OfficeLease’s analysis of costs in both lease and buy options, and his actual experience in the non-profit sector proved solid and invaluable. As we moved into lease negotiations it was clear that he understood the nuance of working with both staff and governing boards. In negotiation, we grew to trust his intuitions and judgements. His assistance led to a very favorable lease that suited our current needs and future growth projections. All financial arrangements were exactly as planned and Paul’s personal commitment to stay with us “until we were happy in our new space” was absolutely fulfilled. Throughout this process I’ve developed a deep respect for his integrity and acumen. I would not hesitate to call on him again and highly commend him “
- Jan Michels, Executive Director, WA State Bar Association
WA State Bar Association
The WSBA is an administrative arm of the Washington State Supreme Court. It administers the admissions, licensing, and discipline functions for the lawyers in Washington. In addition, the WSBA provides many services to its 29,200 members.
Challenge
The WSBA was outgrowing its space in the Denny Regrade and in 2002 its member survey revealed that their members preferred that the future site be located closer to Seattle’s downtown core. Their existing lease was not set to expire until 2006. It was also determined that the new space should have a Variable Air Volume air conditioning system which allowed flushing with 100% new air when required.
Solution
Washington Mutual had applied for a permit to develop a new 1,000,000 SF Headquarter building to be completed by Q4 2006. OfficeLease understood that when WAMU consolidated its operations, large tracts of well finished office space would become available in several buildings. As the office space vacancy rate was high in 2004 and rates low, our focus was to identify landlords interested in “pre-leasing” their space in anticipation of WAMU’s relocation.
Results
OfficeLease identified optimal space for the WSBA before appropriate vacancies were officially on the market and negotiated below market lease rates in a centrally located building with excellent natural light. WSBA occupied the space in Q1 2007 and are delighted with the move
Customer Feedback
"Kennedy has developed several assets in Seattle; our principals are of course very well known in the Seattle real estate community and our firm has extensive experience in negotiating leases. Still we recognized that our own search for space could be made more effective by making use of an experienced local tenant representative..........We spoke to several brokerage firms, and ultimately engaged Paul Suzman and OfficeLease to act as Kennedy’s advisor and representative. Kennedy and OfficeLease considered many different space alternatives, from purchase of existing office buildings to leased space in development projects still on the drawing boards. Throughout this several months long process, OfficeLease did a good job of introducing new ideas and space proposals. They maintained a consistent and diligent focus on communications with our management team and on meeting our requirements, and helped push the selection process to a timely completion. They are financially sophisticated and were good at communicating with our own numbers-oriented management. Paul Suzman in particular acted as a key member of our team and was effective at maintaining open and effective communications with the landlord during the negotiations process”.
Steve Bremner, CFO, (206) 623 4739
Kennedy Associates Real Estate Counsel
Kennedy Associates Real Estate Counsel has over $9.5 Billion under management nationwide, for 250 institutional investors, public, corporate and Taft-Hartley retirement systems, as well as major university endowment funds. They have in house expertise in finance, investment, construction, architecture, law and real estate administration. When it came time for them to consider their facility alternatives they hired OfficeLease.
Challenge
Kennedy had announced a partnership with a major Canadian real estate investor; was undergoing a generational management shift and was outgrowing its space which was split between non contiguous floors in The Financial Center in downtown Seattle. The overall office space market was tightening given several announcements that large space users were locating to the CBD and South Lake Union.
Solution
As Kennedy is a major property owner/administrator the initial question was whether they should acquire a building as owner/occupant. However none were available at either a justifiable price or in an acceptable location. A large tenant in the Financial Center then announced their intention to relocate to another building from space contiguous to Kennedy’s HQ and negotiations commenced and concluded to assume tenancy of this space when vacated and to construct a stairway between floors with expansion options on a third contiguous floor.
Customer Feedback
“Your group repeatedly went beyond the borders of the “deal” to ensure the success of the entire venture, not just the sale. Apart from introducing us to move specialists, you worked seamlessly with our accountant, space planner, lawyer and various internal departments. You took the lead in keeping communication prompt and efficient during the entire process. Even though the transaction is complete, you have continued to offer thoughtful advice to help us reach our goals. You have helped us jump to the next level and definitely earned your keep”.
- Nick Staub, President, Romaine Electric Corporation 800-426-5005
Romaine Electric Company
Romaine Electric is a national leader in providing alternator and starter units and parts to the automotive, truck, industrial, marine, agricultural, and military markets. With 11 locations across the US from Bellingham, WA to Ft Lauderdale, Florida, Romaine Electric is headquartered in Kent, WA. They are the largest remanufacturer of armatures and rotors in North America.
Challenge
After 50 years in a South Seattle location, Romaine Electric was outgrowing their current facility and wanted to stay close to Seattle while moving South to less expensive warehouse options.
Solution
OfficeLease recommended the hiring of a process engineer to study the efficiency of the current facility. He examined the plant layout, inventory control system, and the overall scope of the facility. Upon continued exploration of company objectives, the owner decided that purchasing a building was in the company’s best interests. OfficeLease uncovered a vacant building that was in the right location and the right size.
Results
OfficeLease worked with the client’s attorneys and accountants to negotiate a purchase of the property at below market price. Romaine Electric and their employees have found the space to be much more appropriate to their needs and as a result productivity has increased considerably
Customer Feedback
“You’ve been involved as a valuable and trusted partner with HADW in every space decision we’ve made since 1984 and you have seen us through almost a dozen moves, expansions, and renegotiations. It was your persistence that led us to our current space in the Dexter Horton Building, which we did not initially want to consider as an alternative. You saw through the government issues with the dropped ceilings, institutional finishes and infinitely depressing fluorescent fixtures to the potential of the space for our particular use, which really was not obvious.
We would recommend your services without hesitation to any company who might be seeking knowledgeable real estate representation in the Greater Seattle area. You have been a great team mate and I’d be happy to provide references to anyone who might be considering your services. I know they would be delighted with the relationship.”
- Jack Anderson, Principal, Hornall Anderson Design Works 206 467 5800
Hornall Anderson Design Works
Hornall Anderson Design Works is one of Seattle’s largest and most successful design studios. Founded in 1982, HADW delivers an integrated offering of strategic brand consulting, brand design, and interactive design and development to client companies across the country. They have been recognized by their peers by winning every major industry award including the London International Advertising Design Award, The Seattle Show, the Communicator Awards, The One Show, The Addys, the Horizon Interactive Awards, and countless others.
Challenge
HADW needed to consolidate their facility from 3 separate floors into one single floor plate while staying near the downtown core. This needed to be accomplished also by avoiding the “boxy” feel and staid environment of standard downtown office buildings. And HADW’s executives needed to be reassured as to how a previously government occupied building could ‘rebrand’ itself into a ‘cool’ and productive location.
Solution
The former Dexter Horton Building with 24,000 sf floors built around light wells had for many years been regarded as a “government” building. The building, the original home of Seattle First National Bank, with it’s historic marbled lobbies has a floor plate that allows ample natural working light, operable windows, and great air circulation. And once vacated and renovated, it turned out to be the best of several available locations at the most competitive rates.
Results
At the time of the transaction HADW was acquired by a global company whose representatives needed to be brought up speed quickly enough to keep the transaction’s momentum going. And after over six months of negotiations, a lease was signed including expansion options (which HADW has already exercised)
Customer Feedback
“When we were outgrowing our last building, OfficeLease helped us develop a real estate plan and in a very tight market, identified and helped us negotiate a lease in a very suitable architecturally significant property which has served us extremely well. Currently, as we anticipate outgrowing our present location and we once again retained OfficeLease as an advisor and advocate to help us explore all of our options including where we might design and occupy space as a tenant in a larger development. OfficeLease has demonstrated a thorough knowledge of the market and knows all of the players. Paul and his associates are valuable hard working members of our team in whom we have a great confidence and Paul consistently demonstrates that his priority is to serve our long term best business interests. We would, without hesitation, recommend their services to other professional, business or institutional clients who would have need of such services. The service will be of the highest quality and the relationship will be most enjoyable”
- Bruce Williams, AIA Principal
Mithun Architects + Designers + Planners
Mithun is a national, integrated design firm, which focuses on the disciplines of architecture, interior design, planning and landscape architecture to create sustainable urban environments. For the past decade, they have worked with OfficeLease to assess office needs and to assist when they have needed to expand or relocate.
Challenge
Mithun was located on several floors in an historic building and needed to relocate to an environment that facilitated more collaboration. In addition, this search happened in the peak of the dot.com boom and there were few alternatives, especially ones that allowed the large floor collaborative environment sought by Mithun.
Solution
Historic Pier 56 had recently been acquired and was to be renovated. The 34,000 floor plate with high bay clerestory windows and ancient wood beams provided a unique, airy and well lit environment for Mithun.
Results
We negotiated a competitive long term lease for the entire second floor space which includes spectacular views of Puget Sound, and, being on piles over the water has enabled Mithun to ventilate the space without air-conditioning. They have occupied this space since 2000 and it has proved to be a useful recruiting tool and much enjoyed by both staff and clients.
