PJHM Architects Secures Huge Concessions on New Creative Office Space in Laguna Hills, CA
“PJHM Architects utilized the services of VoitWorks for their corporate office relocation. After over 35 years in the same location, the company had grown beyond the constraints of the existing office building. Stefan was patient and professional in assisting us understand the different potential areas to relocate and the vast types of office product available in Orange County and all the pro’s and con’s that come with office relocation. Stefan’s assistance in guiding our firm’s decision on the exact location and office complex to relocate to, and the negotiating expertise demonstrated during our lease negotiation, was invaluable. Included in our lease was abated rent, TI allowances and a moving expense allowance. PJHM Architects highly recommends VoitWorks to represent you with your commercial property needs.”
PJHM occupied a Class C office building in South Orange County for over thirty years, which suffered from chronic deferred maintenance and poor property management. The space was also very inefficient and comprised several disconnected suites, which PJHM had grown into over time. PJHM was on a strict budget and desired to upgrade to a creative style workplace in an area typically out of its price range, to accommodate all its space needs under one roof and allow for growth and enhanced space efficiencies to foster employee collaboration and productivity.
After explicitly analyzing PJHM’s business model and developing a real estate strategy for leasing a new facility, VoitWorks conducted comprehensive market surveys and canvassed PJHM’s target area for off-market opportunities to identify every suitable option. After exhaustive research, a unique opportunity was uncovered, which accommodated all PJHM’s operational needs with the potential for significant lease concessions, providing an extremely cost-effective lease structure. VoitWorks immediately negotiated on multiple back-up properties to create a competitive negotiating environment to extract maximum lease concessions, and secured a new lease with a significantly below fair market value rental structure, including substantial cash concessions to fund PJHM’s creative office space tenant improvements.
PJHM’s new headquarters was delivered significantly under budget and VoitWorks’s full-service transaction and project management services enabled the principals to remain focused on their business during the entire process. PJHM’s incredible new creative workspace exceeded its expectations and rewarded its employees with the ultimate fun, collaborative and efficient working environment the principals had dreamed of. The finished product also offers a fantastic showcase for PJHM’s architectural and design services as well as the opportunity to successfully grow its business for years to come.
PJHM’s Negotiated Lease Concessions Include:
- $1.27/SF/Month Average Rental Rate
- 8 Months’ Free Rent
- Turn-Key Tenant Improvement Allowance
- $2/SF Moving Allowance
- Building Top Signage