ITRA Global News

Client Success Story: 
Maneuvering from Startup Through Growth of the Company

January 23, 2018

Challenge

Forever was founded in 2012 by Glen Meakem, who previously founded the highly successful business-to-business e-commerce company, FreeMarkets, Inc.  Forever is the first of its kind - permanent storage site for people and families to preserve and share their memories for generations. As soon as they progressed to an early stage start-up company, Mr. Meakem turned to Carrie Holstead / ITRA Global Pittsburgh, to determine the square footage needed and identify the office space best suited to Forever’s needs in either downtown or suburban Pittsburgh. 

Action

Carrie completed a needs analysis,  prepared a program to identify the square footage required, completed a market survey of available space options in targeted suburban and downtown areas of Pittsburgh, and toured buildings of interest. Subsequently, she obtained proposals from their preferred buildings, leveraged the market to identify the best leasing opportunity, and negotiated favorable business terms at One PPG Place, which helped provide Forever with a solid foundation for success. 

Results

  • Carrie negotiated a lease rental rate well below market
  • Short term lease to provide flexibility
  • Prestigious space with above standard finishes
  • Attractive tenant improvement allowance
  • Identified the best person to manage and fast track tenant improvements to achieve a critical occupancy date
  • Right to lease parking spaces in the building subject to a lease
  • Renewal option & ROFR on adjacent space at fixed rate
  • Recently Forever enlisted Carrie for the fifth time

 

Article submitted by Carrie Holstead / ITRA Global Pittsburgh, Pennsylvania USA

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