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Darwin Realty & Development Corporation
Tenant Representation
RAC National Product Service
Bolingbrook, IL
32,500 SF
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Challenge
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- RAC's landlord was not offering renewal and expansion terms that reflected current market conditions.
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Action Steps
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- RAC needed to expand within their current building or into a new facility.
- RAC needed a substantial tenant improvement allowance whether they renewed their current lease or moved to a new facility.
- RAC's current landlord thought it would be too expensive for RAC to relocate.
- RAC chose Darwin Realty as their exclusive agent to negotiate with their current landlord and to search for alternative sites.
- Darwin created a competitive environment for RAC, with their current landlord and alternative landlords.
- Darwin educated RAC regarding current market lease rates, annual escalations, and landlord concessions.
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Results
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- RAC received five (5) proposals. One from their existing landlord and four from alternative landlords.
- Darwin assisted RAC in the analysis of all proposals.
- RAC signed a 10-year lease for 32,500 square feet in a new building.
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