MISTER CAR WASH

Opportunity

My firm was selected by Mister Car Wash to assist them with opening their Atlanta headquarters and training facility. Mister Car Wash was forced to hold their meetings in one of their retail locations. When they needed to host larger meetings, they rented a conference room at various locations. They were seeking an office space more centrally located to appease their operations team. They needed a portion of the space dedicated to the operations team and a portion of the space dedicated to training new employees.

Execution

Based on market research and the needs of Mister Car Wash, the determined the best solution would be to do a five-year direct lease in the Marietta area. We presented 5 options for consideration. Mister Car Wash decided to put their headquarters at Powers Ferry Landing.

Success

After understanding the needs of Mister Car Wash, we ascertained that leasing at Powers Ferry Landing made the most sense for their business model.  We were able to achieve the following:

– A sixty-five (65) month term

– 5 months abated rent

– 3,505 RSF $22.00/RSF

– 3% escalations and 5% operating expenses

– Complete standard build-out at the Landlord’s cost

HONORE LAW

Opportunity

My firm was selected by Honore Law to determine whether the most pragmatic solution would be to renew their current lease, do a direct lease at a new location, purchase a smaller building now, or purchase a larger building in the future.  Honore Law, located in dynamic West Midtown, was a recently dissolved partnership that transitioned into a sole proprietorship.  They were seeking a modern, open concept comparable to the loft office styles found in West Midtown.

Execution

Based on market research and the needs of Honore Law, my firm determined the best solution would be to do a short-term lease to allow for flexibility to purchase a larger building in the future.  We identified 3 options in the Central Business District for Honore Law to consider for lease.  A review of the proposals told us that renewing the lease at his current location made the most positive impact to his bottom line.

Success

After market research, my firm determined a lease renewal was the best solution for Honore Law.  We were able to achieve the following:

– An under market flat monthly rental rate
– 1 month free rent
– 3 year term with an exit clause
– 5 months abated rent
– 3,505 RSF $22.00/RSF
– 3% escalations and 5% operating expenses
– Complete standard build-out at the Landlord’s cost

RADIO ONE

Opportunity

My firm was selected by Radio One, an interactive digital sector of Urban One, to assist them with opening their Atlanta headquarters. Radio One sought to test the Atlanta market to see if there was feasibility for opening a permanent headquarters. They needed office space with 2-3 offices and with a ceiling height of no less than 11’.

Execution

Since Radio One was testing the market, we opted for a shorter term.  It was important to be cognizant of their ceiling height requirement versus the standard office ceiling height being 8-10’.  My firm presented 3 options to include:  The Healey Building, The Hurt Building, and 439 Edgewood Ave.  A review of Radio One’s needs determined that 439 Edgewood Ave was the best option as it was a creative, 2-story office with plenty of ceiling height for recording and video equipment.

Success

Radio One had a unique requirement and my firm was able to create a solution. We were able to achieve the following:

– An 18-month term
– 3,000 SF $16.50 PSF for the first year and then $17.00 PSF for the remaining six months
– Option to create a spiral staircase adjoining the two suites with Landlord’s approval