Savills Successfully Negotiates Favorable Lease Terms for Lundbeck’s Expanding Headquarters
Lundbeck, known for its revolutionary research and development in the pharmaceutical industry, retained Savills to assist in the expansion and renewal of its lease for its North American Headquarters. Lundbeck had been a tenant in the Four Parkway North building for over decade, occupying 69,000 square feet and was looking to expand to an additional 10,000 square feet.
To address Lundbeck’s top priorities, Savills researched numerous alternatives in the market place to create viable relocation options. Lundbeck needed to leverage its alternative options should the Four Parkway North building choose not to comply with Lundbeck’s conditions in renewing.
Savills succeeded in negotiating favorable lease terms that fully clarified Lundbeck’s long term vision for their headquarters and achieved a transaction that served the organization’s mission for the foreseeable future. Flexibility in the lease terms allowed Lundbeck to expand into more space and simultaneously optimize its existing space through more efficient usage. Additionally, Lundbeck was able to continue the trend of creating more efficient, collaborative and productive space.