Rapid Expansion, Quality Locations, Aggressive Lease Terms

Challenge:  Chiro One Wellness Centers is the world’s leading provider of chiropractic services.  Their recent awards include being named one of “Healthcare’s Hottest” by Modern Healthcare Magazine, a #14 ranking on the 2013 Crain’s Chicago Business’ Fast Fifty List of Fastest Growing Chicago Companies, 2012 Hire Power Award, and Inc. 5000 Awards in 2011 and 2012.  As the world’s fastest growing Chiropractic organization, Chiro One Wellness Centers was looking to continue their aggressive expansion in the Chicago downtown area.  They were interested in both retail as well as office locations with parking and below market lease rates and concessions.  In addition Chiro One was looking for direction as to which sub-markets would best fit.

Action:  Chiro One engaged Office Space Chicago to lead the expansion into the Chicago Metro market.  Utilizing their understanding of the market, Office Space Chicago (OSC) began the process of finding the best spaces that fit Chiro One’s needs.  OSC uncovered some great opportunities and presented all to Chiro One. OSC’s extensive market knowledge and tough negotiating led to a short-list of properties that fit Chiro One’s requirements. OSC continued to negotiate this short-list by creating a competition between the remaining buildings in order to get the best rates and concessions out of each location; ultimately securing the best locations and terms available to his client.

Results: 

• Opened 12 new centers for Chiro One ranging from Hyde Park to the Loop to Edgewater.
• Centers fit Chiro One’s physical model and below market rents and concessions were achieved.
• The locations have been very successful and Chiro One Wellness Centers continues to thrive in each.