Foresite Corporate Services
Frequently Ask Questions
CHALLENGE: The primary challenge for this space relocation was mostly driven by economics. Office rental rates in the suburban Washington state submarket where the company leased space for their writers had appreciate greatly in the five years since their last lease renewal and they were experiencing sticker shock from the rental rates then prevailing in the market...
RESULTS: After performing multiple Market Availability Studies in the months leading up to their lease expiration date, we recommended to Corporate that they allow the lease for their current space to expire and not relocate to new space. The results were very happy employees and a total cost savings to the company of about $300,000.
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