Corporate Headquarters Relocation a Moving Success
Challenge: As one of the nation’s largest educational daycare companies, La Petite Academy, Inc. was looking to relocate their corporate headquarters from Kansas City to Chicago. The relocation was significant in that many employees and executives in Kansas City would be asked to relocate. La Petite wanted a creative, fun atmosphere to attract and retain employees that were hesitant about relocating to Chicago. In addition, they wanted to secure a location that provided easy access on and off highways with public transportation as well as inexpensive parking nearby.
Action: La Petite Academy interviewed many local brokers and ultimately chose to work with Office Space Chicago. OSC quickly provided detailed market studies to La Petite on various areas within the Chicago market including demographic information, public transit, parking rates, building asking rates, housing data, maps and lease comparables; everything La Petite Academy needed to identify the area they would focus on for their corporate space needs. The comprehensive information provided by Office Space Chicago ultimately led La Petite to focus their attention on Chicago’s west loop area. The west loop offered reduced parking rates, proximity to train stations, easy on/off highway locations and brick and timber loft buildings which were consistent with La Petite’s vision of a fun, attractive atmosphere. After a rigorous elimination process several buildings stood out as contenders. Office Space Chicago orchestrated a competitive environment between the remaining buildings, eventually negotiating a below market lease rate and terms and planning a space that fit La Petite’s vision at 130 S. Jefferson Street.
Results:
- Secured several lease concessions including a full build out of the space with above standard finishes
- Achieved a rent structure that was $5-6 per square foot lower than market rates!
- Formulated an efficient functional floor plan utilizing the brick & timber, high ceilings and upgraded lighting to achieve their vision of a fun and creative work environment.
- Employee retention was very high and new hiring was very successful.
“After interviewing all the candidates, Office Space Chicago was the obvious frontrunner. They had the local knowledge, expertise and attention to detail to carry out this complicated assignment.Office Space Chicago went above and beyond in their capacity as real estate brokers, making great recommendations for architects, attorneys, movers, furniture, even helping find the best residential agents to help some of our employees relocate their homes.”
– Tom Mc Garry, Director of Real Estate, La Petite Academy, Inc.