The Challenge
Signature Wealth Management is a financial advisory firm located in the West End area of St. Louis Park, MN. Their lease was expiring, prompting the decision to either renew and expand within the existing building or relocate to a larger space to serve the needs of the growing firm. Prior to the expiration of the renewal option, they hired Andrew Odney to represent them in the renewal/expansion or relocation transaction.
Action
Odney conducted a comprehensive review of the existing lease and collaborated closely with the landlord to explore possibilities for expanding adjacent to the current space. Odney assisted in arranging a meeting with the Landlord’s architect to complete a fit plan to show how the space with merry with the adjacent vacancy. After discussions and receiving an expansion proposal, it was determined that renewing and expanding the lease was not in the client’s best interest, prompting them to consider a full relocation seriously. Odney identified market alternatives and arranged tours of potential new locations, assisting in evaluating several options. This strategic approach allowed Signature Wealth Management to leverage competing proposals.
Service
Office Tenant Representation
Brokerage
Odney Group
Location
Minneapolis, MN
Property Type
Office
Client Company
Signature Wealth Management
City
Minnetonka
Result
Through the process, Odney successfully negotiated a long-term lease with a substantial tenant improvement package, which allowed for a dramatic upgrade of the office environment. Ultimately, Signature Wealth Management moved into a Class A facility, significantly enhancing the workspace to better serve the needs of both staff and clients for many years to come.
“Working with Odney was instrumental in our transition to a new office space. His expertise in navigating the lease negotiations and the market alternatives allowed us to secure a fantastic new location that truly meets our team’s and client's needs. We're excited about the enhancements this will bring to our workforce and overall client experience!”
Ben HovlandSignature Wealth Management
