Case Study International Association of Business Communicators
Mihalovich Partners represented The International Association of Business Communicators in their relocation to 601 Montgomery Street.
When The International Association of Business Communicators (IABC) approached us they were literally in a bad place. They were in an inefficient space with an unresponsive building owner in an objectionable, unsafe neighborhood. Renovating their space would be rife with challenges, including ADA and other code compliance issues in addition to trying to phase any construction while still operating their business. They could renegotiate their current lease and hope for the best; or relocate to any of scores of alternatives, preferably to the Financial District with easy access to BART.
After our initial survey of the current San Francisco market, we found more than 18 buildings on our “short list”, far more than necessary or convenient. With an extremely aggressive demand-list, we simultaneously focused on planning and negotiations at three alternatives. The building owner at 601 Montgomery Street was ultimately willing to offer the most generous lease terms, including an allowance which paid for all new tenant improvements; design fees; moving expenses; cabling, IT installations and equipment purchases; and furniture installations. IABC also accessed the transaction to pay for memberships for their employees to join the building’s fitness center.
The Bottom Line
The IABC benefited from our expertise and experienced the shortest—and sweetest—of transactions! Read what the IABC has to say about our work.