Challenge: Since its inception in 1994, DWA Healthcare Communications (DWA) has evolved from a spare-bedroom operation to being among the most respected names in the medical communications industry. Astounding growth caused DWA to expand their space several times within its first five years, causing their facility to become “chopped-up” and inefficient. DWA needed creative solutions for their complex office space dilemma.
Solution: DWA partnered with Carmen Commercial Real Estate Services in late 2000 to help with their expansion process. When DWA engaged CARMEN, they were “locked-in” with their landlord and had become frustrated with spending time and money managing their real estate. CARMEN brought in an architectural business partner to alleviate DWA’s frustrations and maximize the efficiency of the current space.
The principals of DWA soon realized that their existing office was not a long-term solution and that they needed to plan a new facility that would accommodate growth. DWA ceased plans for further expansion in the outdated facility in order to allow the lease liability to reduce, giving them a broader range of alternatives. With CARMEN’s help, DWA began aggressively exploring their options.
Careful planning and design allowed CARMEN to relocate DWA into a newly constructed, class A office building as a 33,000 square foot anchor tenant. Additionally, CARMEN negotiated with the landlord to assume DWA’s remaining lease liability. Its new full-service lease provided DWA maximum future growth flexibility under exceptional terms.
Since relocating in 2003, DWA has expanded its facility four times. For a time, it leased an 8,000 square foot satellite office for an ancillary operation and subsequently subleased the satellite office once it was no longer needed. In 2012, CARMEN negotiated another expansion of behalf of DWA and tied it with a lease renewal, allowing DWA to renew its lease at a low point in the market and add office space at a discounted rental cost.