Austin Office Space, Inc. of Austin and CBIZ Gibraltar Real Estate Services, LLC of Chicago, both Exis partners, collaborated to provide tenant representation services to EOS of North America in Austin.

EOS, which has a significant presence in the Austin area, provides responsible manufacturing solutions via industrial 3D printing technology to manufacturers around the world and operates globally with 7 technology centres in 7 different countries and with sales partners in 50 different countries.

Project Details

Project type: Office and Industrial Space
Location: Pflugerville, Texas
Square footage: 62,680

The Brief

CBIZ Gibraltar had an existing relationship with EOS and tapped two other Exis partners to collaborate and pitch the business for 2 different client sites, including Austin. After interviewing several different commercial real estate firms to assist with their real estate needs, Austin Office Space and CBIZ Gibraltar were selected and engaged by EOS of North America to evaluate their real estate needs in the Pflugerville/Austin area and negotiated with their current landlord in restructuring their lease for a long-term renewal.

Challenges

The Austin Industrial/Flex market is very competitive with occupancy rates at 90%+ with many tenants’ competing for the highest quality spaces.  The client also had a very expensive lab component which was hard to move or replicate in a new space without a significant cost and disruption to their business.

Outcome for the Client

The brokers were able to create leverage for the client by finding alternative options in the market that could accommodate the client’s needs. Ultimately, restructuring a new long term lease contract with the building at a competitive rental rate with a large improvement allowance and several months of upfront free rent was the best decision for the client.  The process from start to finish took over a year to yield the best results and was highly beneficial to the client.