Solace Systems is a growing technology company and required additional space in its current building as well as redesigning its offices to increase workplace efficiency.
Solace Systems develops and manufactures message routers that let companies more efficiently move real time information across their business and around the world.
As demand is increasing for its technology, Solace Systems required more space in its existing building and needed to make adjustments to the design of its premises in order to increase workplace efficiency. In addition, Solace needed to secure a lease agreement that would allow for phased (further) expansion into adjacent space.
Our team assisted Solace’s leasing committee with the engagement of a designer. Working collaboratively, the project team developed a design solution that involved a relocation of one of Solace’s engineering units from the ground floor to an upper floor. In so doing, we had to relocate an existing tenant in order to clear space for Solace. As part of the lease negotiation, we also secured rights to expand on the new floor in predetermined intervals at pre-set rental rates.
Solace Systems was able to enter into a new lease agreement that included a reconfiguration and expansion in its existing building. The lease for this agreement is structured in such a way as to allow maximum flexibility. Further, we were able to secure favorable rental rates and a significant tenant inducement allowance so that Solace was able to transition to the new space and expand its operations without incurring a significant expense or increase in occupancy costs.