Office Furniture Distributors-Additional-Lease Transaction

This case study highlights a significant lease transaction and the efforts contributed by Adam Curran. This is a perfect example of one of the many Jobs Well Done by the Mercer Company Brokers.

  • The Client:

  Office Furniture Distributors – www.ofdist.com

OFD is owned and operated by Bernie Solman and Mark Wood, both having 25+ years experience in the Office Furniture Industry, now located in Carrollton, Texas. OFD stocks and distributes high quality, Wood Veneer and Laminate Office Furniture, Panel Systems, and Seating through our dealer partners. Our mission is to stock and distribute the very best quality, availability, value, and service in the industry, from all over the world.

  • The Challenge:

Office Furniture Distributors (“OFD”) has grown beyond their real estate boundaries.  Adam leased them 3 different warehouses for dead storage in short distance from their headquarters.  They had four leases in four separate locations.  They needed to identify a location with the desired image that all inventory would fit in and give them expansion room.

  • The Solution:

Adam identified the spaces in their target market that would work.  They toured all the options that would work.  Because of Adam’s market knowledge and expertise, they identified a location which fit all the requirements.

  • The Results:

Adam negotiated a deal with an extensive dollar amount for Tenant Improvements, a generous free rent amount to cover the costs of moving and various Tenant capital upgrades, and a low rent to accommodate OFD’s growth.  He also negotiated a tax abatement with the city.

  Savings:

Free rent negotiated = $228,182.50

Tenant Improvement Allowance = $474,214.36

Quoted Asking Rate vs. Deal Rate= $176,932.00

Municipal Incentives= $7,500.00

  • Total Value of Representation - $886,828.86

Check out Office Furniture Distributors Logo