The company's lease expired in December. The firm had looked at about a dozen other places to move, and had narrowed down the options to five on the greater north side of Indianapolis, says Sam Smith with Resource Commercial Real Estate Inc. He represented the company in its search.
Ultimately, the firm stayed because they liked the area, and building owner HDG Mansur discounted the new 10-year lease, Smith tells GlobeSt.com. "The property is in a central location, with a jogging path nearby around a small lake, and great interstate access. Also, we negotiated a significant reduction in the lease rate, under $20 per sf full service, to make it competitive with the other options."
The local office market has a lot of new construction coming online, Smith says. "That may have played a big role in HDG wanting to lock in BSA," he says.
Where it leases the larger space, it also shares the building with two companies that take up another 5,000 sf. Aviation Capital and Maregatti Interiors partner with BSA on many projects, Smith says.
To be specific, Smith arranged the 10-year lease with a 15-month extension, back-dating the lease. The lease also has expansion possibilities, he says. David Meisenhelder and Bill Miller represented building ownership in the deal.
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