Savills Secures State Incentives to Relocate Expanding Firm, Association Headquarters
Association Headquarters, a growing professional services firm that specializes in helping non-profit organizations achieve their mission, create value, and advance its causes, industries, and professions. The company required a larger office space in an effort to improve the company’s workspace, boost its image and accommodate its rapid double-digit growth over the past several years and anticipated expansion. Association Headquarters’ necessities included a space for its expanded staff and continued growth; improved company image and visibility; the creation of an interesting and enjoyable workspace to allow them to continue to retain and recruit top tier talent; and lastly, a flexible leasehold that will allow for growth within the business.
Savills developed a strategic plan for the project and advised Association Headquarters throughout the market search and lease negotiations. Several months were spent analyzing Association Headquarters’ operations, looking at how employees worked together and how workspaces impacted productivity. Savills created a comprehensive workplace strategies plan that was to be implemented within the new space. The result was a modified open plan that offered flexibility and an improved collaborative environment.
After having looked at multiple locations and competing landlords for the tenancy, Savills determined that Executive Plaza at 1120 Route 73 in Mount Laurel, New Jersey was the best fit for Association Headquarters’ new office space. Association Headquarters would occupy 40,000 square feet, an increase over the 31,000 square feet the company occupied previously at the single-story flex building located at 1500 Commerce Parkway. The Mount Laurel building is in a highly visible location with Association Headquarters’ tenant lit exterior signage and monument signage on two major roadways, allowing Association Headquarters to become a more recognized landmark and brand.
Savills negotiated with Brandywine Realty Trust to commit to installing new lobby finishes, brand new restrooms with showers and lockers, a new fitness center, and a new left turn lane on the northbound side of Route 73 to improve access to the nearby highways, as part of the landlord’s dedicated effort to make the building more attractive. The tenant’s space contains glass front offices, access to six exterior balconies wrapping the building's four-story atrium, creating a high quality, daylight intensive and transparent work environment.
Savills negotiated significant New Jersey Grow State incentives that allow the company owners to invest more into the value of the business. In addition, dedicated tenant and visitor parking, fixed price options to expand, options to contract and to terminate, and a tenant friendly security deposit were negotiated into Association Headquarters’ lease terms. Association Headquarters will pay less per square foot to be in one of the top buildings within the South Jersey market than the company had been paying to be in a class C, generic, single story flex building previously.