Savills Exceeds Expectations of Market Research Firm Fieldwork with More Attractive Lease
Fieldwork, Inc., a leader in world-class marketing research services and facilities for over 30 years, had a headquarters lease that was expiring in two years in a tightening market with rising rental rates. Fieldwork, Inc.’s top priorities were to maintain their cost-effective rental structure for the long term and enhance and remodel their existing space to be reflective of a world-class marketing research firm that encourages collaboration. In 2014, Fieldwork, Inc. hired Savills to help them accomplish these objectives.
Fieldwork, Inc. enlisted Savills to improve its existing lease structure through renegotiating more favorable provisions, which would allow the firm to upgrade, refurbish and enhance its space. Fieldwork hoped to maintain a state-of-the-art headquarters in Chicago that was reflective of its status as a leader in the market research field.
Savills was able to negotiate a lease restructure that protected Fieldwork, Inc.’s existing attractive rate, with a large concession package that effectively compensated them for the extensive remodeling and reconfiguration. With this plan, Fieldwork’s workplace requirements and short and long term business goals would be met. If they waited another year, the terms would have been less desirable. Ultimately, the negotiation exceeded the expectations of the client and Savills continues to assist Fieldworks, Inc. in their real estate needs throughout the Chicago metropolitan area.