Outrigger Energy

Outrigger Energy is a new company with a successful heritage. The team that founded Outrigger already had a successful track record in the midstream sector of the oil & gas industry. Benchmark Commercial was chosen to help identify and negotiate for an office space that would reflect past success but not burden the new company with unreasonable startup and on-going occupancy cost.

The Tabor Center was the first choice from the beginning but didn’t have the right size office space for rent currently available. After negotiating on two other landlords, the size and timing coincided, and the right space became available! The new offices for Outrigger required minimal changes to fit their needs and a portion of the Tenant Improvement Allowance was set aside for future use or to reduce future rent.

Initial Landlord Proposal Benchmark  Negotiated Terms Total Savings
Square Feet 6,829 6,829
Free Rent 0 months 4 months $59,184.68
Effective Rate $28.00 $25.78 $17,704.87
Tenant Improvement Allowance $0.00 $170,725 $170,725.00
Real Estate Fee Paid by Landlord Paid by Landlord
TOTAL SAVINGS $247,614.50

 

“Thanks for all the time and effort spent the last few months getting our office space figured out. I’m very happy with where we ended up. I appreciate your professionalism and attention to detail and will certainly recommend your services going forward.
I wish you guys the best on the continued success for Benchmark Commercial and look forward to staying in touch.”
– Dave Keanini, President & CEO, Outrigger Energy

Western Dairy Association

Western Dairy Association (WDA) is a non-profit, dairy farmer-funded organization that works to promote dairy products as part of a healthy staff lifestyle. Tanner met with Cindy French, President & CEO of WDA. There were two main tracks for the future of WDA, as with most of our clients: Lease or Buy? Leasing offered two options: Staying in their previous location would have involved another lease for three to five years, or seeking out a new location.  There are always pros and cons to weigh – extending their lease would be simple and would not involve moving costs and downtime. Moving to a new location, whether through purchase or lease, brings about the concern of employee retention and downtime. The benefits of finding an office space for lease include no initial capital contribution and more flexibility. Owning a building offers the benefits of known costs, tax incentives and controlling one’s own destiny.

Own:

Example on a $1,000,000 purchase:

30% down: $300,000
Loan: $700,000
4.5% interest rate
20 year amortization

Monthly principal and interest:
$4,429/mo plus expenses of approximately $4,500/mo ($8/SF on 7,000 Sf)

TOTAL MONTHLY: $9,096/mo

Lease:

Renew at current location:
Full Service $8,943/mo ($20/SF x 5,366 SF / 12 mos)

Move to new location:
NNN ($9.75/SF x 4,200 SF / 12 mos + $4.49/SF X 4,200 SF / 12 mos)

Ultimately, WDA chose to lease new office space. Tanner worked diligently to negotiate an office lease agreement with turnkey improvements on behalf of WDA.

Outcome:

WDA now has 2100 sf of warehouse and 2100 sf of office space for the next five years with turnkey improvements (new carpet, garage door opener, dishwasher, and additions of walls and doors) to customize the space to fit their needs for the future.

 

Source Four

Source Four, a commercial furniture company, was referred to us from a network partner who believed we would be the perfect fit. Source Four had sold their current building and were in a lease back with the new owners. They were looking for office space to lease with room for a furniture showroom in a central location with ample parking. We started the search along downtown’s central areas – South Broadway and RiNo specifically – while excluding the true heart of downtown.

A location with high traffic volume and plenty of parking was found off Speer Boulevard. Through negotiation, Benchmark was able to negotiate improvements on Source Four’s behalf, providing them with a new kitchen, flooring, and lighting to create a hip, modern, open layout that complimented the furniture showroom.

Source Four is set for the future with room to grow in the professional, cutting-edge space customized to fit their vision.

Stanley Steemer

Stanley Steemer, a carpet and upholstery cleaning company, had four locations in the Denver area. With all four leases set to expire around the same time, and all needing to expand, it was time to look for office and warehouses for lease. We partnered with Stanley Steemer’s broker out of Ohio and provided local expertise with market-specific knowledge.

Stanley Steemer was looking to consolidate their two northern locations (Fort Collins and Thornton) into one large location, and their other two locations (Golden and Englewood) into spaces with room to grow. All three locations had similar needs and requirements: 1) safe, indoor parking for their vans, 2) trench drains and sloping floors, 3) high parking capacity, and 4) office space for their Operations Managers and training rooms.

After scouring the market, we found fifteen locations to tour, started negotiations on multiple options, and narrowed the focus to our three matches! Thornton and Fort Collins were combined into one newly constructed building in Loveland – built to suit. The Golden location, originally looking around Denver’s central corridor, opted to say in Golden and expand into the building next door. The building needed the doors to be enlarged for the vans to easily park inside and new drains were added. The Englewood location moved to Parker where there was a similar space that had been used for a similar business; the loading doors were already perfect for their vans, and the warehouse floor was converted to add slope for the drainage system.

All three locations are operational, with space for additional vans and supplies, and are back to business as usual with room to grow!

Golden Railings

How do you find a larger warehouse for rent and pay less? Well … after a lot of looking, due diligence, and thoughtful negotiation!

Golden Railings has a long and successful history of specializing in handrails for wet environments such as water treatment plants. For most of their 20+ years in business, this client had been in the MIE complex in Golden. With about 3 months left on their lease, they contacted Benchmark Commercial to help them secure a larger, less expensive warehouse for rent. After extensive searching, we secured Golden Railings a true manufacturing building in the city of Broomfield to fit their needs. The results:

Old Space New Space DIFFERENCE
Size (SF) 17,450 24,310 39% Larger
Monthly $  13,000.25 $  10,332.00 21% Savings

 

Of course, there is more to the story – contact us at Benchmark Commercial and we’ll be happy to tell you the rest.

We look out for your best interest.