Empower Federal Credit Union

Empower Federal Credit Union retained the Bell Group to provide Tenant Representation Services for their 12,000 SF office requirement in Syracuse, NY. The Bell Group conducted an exhaustive search of available office space, located in or as close by to the CBD as possible, with adequate parking. Empower required free parking for its 100+ employees. Several attempts were made to negotiate an affordable lease in the CBD that included free parking, while continuing to search for suitable alternatives. The Bell Group continuing efforts ultimately led to a negotiated lease that included a low market rent, free parking and a significant landlord contribution for tenant’s build-out.

Objectives:

• Locate a minimum of 10,000 SF of office space for immediate occupancy prior to the pending sale of one office building, and the redevelopment of another office building
• Secure favorable lease terms including free parking

Process:

• Worked closely with the facilities department providing office availabilities and options
• Coordinated ongoing lease proposals and negotiations on best available options, while continuing to search for better alternatives.

Results:

• The goal of free onsite parking of 100+ for administrative office and visitors was accomplished
• The credit union was able to reduce occupancy costs while providing suitable space that met all their needs
• The new location provides an excellent image in a high profile city location

:: back to case studies listing