Aprimo
Aprimo, Inc., has been one of CARMEN Commercial Real Estate Services longest and most storied clients, having grown from its inception in 1998, to its current size of nearly 250 employees occupying over 53,000 square feet in its Indianapolis offices.
CARMEN’S real estate market expertise, effective negotiating skills, and tireless attention to Aprimo’s changing needs have been integral to their growth & success.
September 1998: Genesis Technologies, subsequently renamed Attune, launches the company and leases 3,000 square feet located at 8465 Keystone at the Crossing office development. Chris Carmen negotiates terms that allow Genesis to operate at essentially no charge for three months while in start-up, agreeing that the company would relocate to another property owned by the same landlord if Genesis was able to procure certain funding during this period. CARMEN charges no fee for its services on this project.
November 1998: CARMEN negotiates a lease for Attune to relocate to new offices of approximately 6,000 square feet located at 400 E. 96th Street (Four Parkwood), allowing Attune to begin its rapid growth. Highlighting the transaction were the terms negotiated by CARMEN, allowing Attune to continue to grow at the same favorable terms negotiated on the original space occupied in Four Parkwood.
November 1999: Attune expands its offices at 400 E. 96th Street by approximately 3,000 square feet, according to favorable expansion terms negotiated when Attune relocated to Four Parkwood.
January 2000: Aprimo outgrows its offices at 400 E. 96th Street and CARMEN negotiates a termination of the existing lease and the relocation of the offices to 510 E. 96th Street, where the company leases 22,209 square feet.
April 2000: In order to accommodate its rapid growth, Aprimo leases an additional 6,241 square feet, bringing the total office space under lease to 28,450 square feet in Five Parkwood. Once again, the favorable expansion terms negotiated by CARMEN on the “front-end” of Aprimo’s office lease allow the company to expand at continued favorable terms.
December 2000: In an effort to protect Aprimo’s growth in a rapidly expanding economy where Indianapolis’ suburban office vacancy was dropping under 7%, Aprimo elects to lease an additional 8,842 square feet located in an adjacent office building, Three Parkwood, to ensure Aprimo would be in a position to continue its rapid growth.
December 2002: In a fiercely contested negotiation with Aprimo’s landlord, Duke Realty Corporation, CARMEN successfully negotiates a reduction of Aprimo’s overall leased space by 8,842 square feet (Three Parkwood), bringing its total leased space back to 28,450 square feet. Highlighting the negotiation in the buyout settlement was Duke’s early offer for Aprimo to “buy-out” of
the Three Parkwood lease for nearly $300,000. Ultimately, CARMEN negotiates Aprimo’s buy-out of the space at a cost to Aprimo of $33,000, which was paid in $11,000 installments over three months. CARMEN charges no fee for its services on this project.
January 2004: In one of CARMEN’s most challenging, yet most fulfilling negotiations on behalf of any client, contributing in an effort to help its client survive, CARMEN successfully negotiates a reduction of Aprimo’s leased space by 15,529 square feet, leaving 12,921 square feet under lease. Highlighting the negotiation was Chris Carmen’s challenge to Duke Realty Corporation’s CEO,
when it seemed the negotiation was not going to conclude favorably for Aprimo, to position Duke as either a partner in Aprimo’s success or a contributor to its failure. Duke agrees to reduce Aprimo’s offices. CARMEN charges no fee for its services on this project.
January 2005: One year following Aprimo’s major space / cost reduction, CARMEN negotiates an expansion of 1,883 square feet with incentives on Aprimo’s behalf, including 5 months free rent at the onset of the term.
September 2005: CARMEN negotiates Aprimo’s last expansion in Five Parkwood for 4,892 square feet, while CARMEN is negotiating a major expansion to a new building under construction.
January 2006: CARMEN (under the merged Resource Commercial Real Estate name) negotiates a new lease on Aprimo’s behalf that will allow the company to continue to grow for the next decade. Aprimo leases 42,399 square feet of office space at 900 E. 96th Street (Nine Parkwood). CARMEN negotiates terms that will provide Aprimo flexibility to grow, while giving the company tremendous economic incentives to take-on the additional space. Further, CARMEN brings an Economic Development Advisor to the negotiating table and arranges meetings with the City of Carmel, Indiana to provide Aprimo with economic incentives through the State of Indiana and the City of Carmel to continue its growth in Indiana. CARMEN also provides Aprimo with relocation project management to coordinate the entire relocation to the new offices.
May 2007: Leveraging market conditions and the terms CARMEN negotiated a year earlier, CARMEN engineers an expansion of Aprimo’s offices at 900 E. 96th Street at terms actually better than the initial lease allowed.
August 2010: CARMEN negotiates the relocation of Aprimo’s Birmingham, UK office, which includes project management to procure furniture and fixtures. To conduct business as customary in the UK, CARMEN takes no leasing fee for the project and only charges Aprimo for expenses.
October 2010: Again leveraging market conditions and the terms CARMEN negotiated at the front end of Aprimo’s 900 E. 96th Street lease, CARMEN negotiates a 4,383 square foot expansion on Aprimo’s behalf, which allows the company to expand it’s Nine Parkwood offices.