![]() A Temporary Solutionīecause Zello occupied the house, they needed to secure a new office space to move into before they could vacate the space and allow a buyer to move in. This would allow time to secure a subtenant to mitigate the obligation on the second half of the space, as Zello only needed about half of the suite for the first few years of the lease as they expanded.įinally, the landlord also conceded building signage rights to the tenant, which is uncommon for a tenant of Zello’s size. AQUILA leveraged their relationship with the landlord to give Zello the edge and secure the space.Īdditionally, AQUILA negotiated a phased-in expansion, in which Zello only paid for half of the space for the first 12 months. ![]() In fact, there was another company vying for the suite that had better credit. ![]() However, Zello was not the only tenant interested in the space. The building is located just down the street from the house they currently occupied and the suite featured a private patio overlooking the downtown skyline. The New Office SpaceĪfter exploring the available options on the market, Zello identified a 15,000-sf suite at Hartland Plaza as the right option for the company. The market was extremely tight for their size range in and around downtown, and purchase options, especially at their desired size, were minimal. They needed 7,000 to 8,000 sf immediately, but planned to eventually occupy up to 15,000 sf over the next few years. Additionally, they hoped to find a space with an outdoor component, like a patio or balcony. The Zello team was open to both purchase and lease options, but knew they wanted to remain in the same neighborhood between Lamar Boulevard and Mopac Expressway. The company was bursting at the seams in their current offices, but liked their location on the west side of downtown.ĪQUILA was engaged to represent them in the acquisition of a new office space, and the subsequent sale of their existing office building. Zello’s converted house on West Sixth Street. ![]()
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June 2023
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