MRA

MRA is a fully integrated advertising, design, public relations and digital direct marketing agency with offices in Syracuse, Atlanta and Short Hills, NJ. The company was experiencing enormous success and explosive growth making it very difficult to predict future space requirements. The Bell Group represented MRA in their market search, analysis and negotiations of the Syracuse office.

Objectives:

• A need for approximately 12,000 useable sf
• Purchase or lease a facility that would project a New York City advertising agency image
• Provide for anticipated but undetermined future expansion requirements

Process:

• Performed a complete market review identifying purchase and lease opportunities throughout the greater Syracuse area
• Prepared and issued Request for Proposals (RFPs) to various Landlords identifying MRA's image and expansion requirements

Results:

• MRA relocated to the top floor of the HSBC Building, which required the relocation of the banks executive offices to the 3rd floor
• MRA received a $35.00 / square foot Tenant Improvement Work letter for their 12,000 useable sf
• Landlord agreed to hold 6,000 square feet for a 3-year term for Tenant's expansion and tenant had the right of first refusal for 12,000 sf on the floor directly below them
• The ultimate savings incurred from the initial Request for Proposal responses was a net savings of over $185,000

:: back to case studies listing