Vicon Inudstries

San Juan Capistrano California

World Leader in Surveillance Camera Systems Expands US Headquarters

Project

New Office Space Lease

Industry

Software & Security Systems

Size

32,000 SF

Location

San Juan Capistrano, California

Challenge
Challenge

Vicon was rapidly outgrowing its space and required a new headquarter office facility with dry lab and storage space. Its real estate needs were very unique and there was very little commercial property to choose from in the desired location.

Solution
Solution

After analyzing Vicon’s real estate needs, we canvassed the target market to identify every building that met its needs. A suitable facility was uncovered, which we learned was soon to be vacated. We quickly opened negotiations with the owner and secured a new lease 20% below fair market rental value with a large tenant improvement allowance. We also organized a professional team to design and build the tenant improvements and coordinated the entire process.

Results
Results

The premises was delivered ahead of schedule and the tenant improvements were completed significantly under budget, providing Vicon the unexpected benefit of a six-figure cash sum to pay down advanced rent. The building also offers long-term room for growth and the lease was negotiated to provide flexible lease termination rights, in case Vicon outgrows the building.

“VoitWorks was extremely proactive in managing the entire leasing process for us. In an extremely tight market with no obvious suitable opportunities, they proved invaluable in uncovering an “off-market” opportunity that accommodated all our needs.”

Negotiated Concessions Include:

  • $1.85 PSF/Mo. average rental rate

  • 6 months free rent

  • Turnkey tenant improvement allowance

  • Termination rights

  • Building signage

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