Valve Corporation

Aliso Viejo, California

Video Game Giant Hires New Talent and Expands Orange County HQ in Aliso Viejo

Project

New Office Lease

Industry

Video Game Developer

Size

9,000 SF

Location

Aliso Viejo, California

Challenge
Challenge

Valve was in the process of acquiring a local video game developer to hire new talent for its latest video game project. Valve’s existing office was too small and functionally obsolete. Its lease was expiring before it could relocate to a larger, more functional space.

Solution
Solution

We renegotiated the existing lease to eliminate the holdover rent penalty to allow time for Valve to relocate into a new space. Then, after researching the ideal location for attracting top employees, a brand new Class A building was identified that met all of Valve’s unique infrastructure requirements. We marketed Valve’s office space requirement to multiple landlords, including The Irvine Company, to create maximum negotiating leverage. This resulted in substantial lease concessions including turn-key creative office space improvements, at a rental rate 15% below fair market value, and project managed the tenant improvements, staying within the negotiated improvement allowance.

Results
Results

Valve’s new building provided the perfect environment for its specific operational requirements with plenty of expansion options. The high standard of features and amenities in its new space and the building proved perfect for recruiting the highest level of talent it desired.

“The leverage that VoitWorks created was very impressive, as were the lengths they went to in creating a cost-effective solution to a complex problem.”

Negotiated Concessions Include:

  • 6 months’ free rent

  • Turnkey creative office space tenant improvements

  • $2 PSF moving allowance

  • Free covered parking

pic

Got a Real Estate Challenge?

Let’s solve it together…

ARRANGE A CONSULTATION…


Share this Success Story:
Share on Pinterest
Related Success Stories