Expanding Wireless Tenant Gets A Welcome Boost
Very specific site guidelines in mind as well as a fixed budget for their upfront and monthly expenditures.
THE
CHALLENGE
Capital City Wireless, an active and growing Boost Mobile multi-state franchisee, was establishing its footprint in Arkansas and seeking a dynamic space from which to launch their inaugural presence in the state. They had very specific site guidelines in mind as well as a fixed budget for their upfront and monthly expenditures. The franchisee was seeking a high-traffic location within a trade area the franchisor had selected, one that was ideal for their target market and brand positioning, but more expensive than their budget allowed. In addition, Capital City was under a directive from their franchisor to identify, negotiate, and move in quickly.
With these objectives in mind, Capital City Wireless approached Roger Cole and the Ashley Group for expert assistance in finding the right location that met their budget and timeline requirements. Roger Cole and the Ashley Group knew it was going to be a challenge, but it was one they were ready and willing to take on.
THE
ACTION
After meeting with Capital City, Roger Cole immediately went into action. Being very familiar with the market and trade area, he quickly identified a great location within the target zone that delivered the kind of traffic Capital City was looking for and was in line with Boost Mobile’s brand requirements. The remaining challenge was the asking price for the space which exceeded the client’s stated budget. Roger Cole and his team knew that it was now up to them to make the deal work, and they were determined to find a solution.
In conversations with the landlord, Roger quickly discovered that he had another space within the same location which he was under some pressure to lease.
Recognizing an opportunity, Roger discussed the new space option with Capital City and they agreed it met all of their needs, including their budget requirements.
Roger then approached the landlord with a unique proposition that not only allowed his client to get the space they wanted within the budget they had allocated, but also solved a problem for the landlord, providing him with added incentive to accept the offer.
THE
RESULT
Thanks to Roger Cole’s creative proposal, a win/win solution was achieved wherein both parties were very satisfied with the results. This included:
● An agreement being reached and signed within five days
● The tenant securing a space they were very happy with, in the trade area they wanted, within the required budget and timeframe
● A reduced asking monthly rent in return for a financial guarantee from the tenant’s national parent company
● A three-year $11.75/SF NNN lease with three renewal options
● A tenant content with the space in its existing condition without necessitating improvements or landlord expenditures
As a result of this very positive experience, Capital City subsequently approached Roger Cole to source additional locations within the state.
WHAT CAPITAL CITY WIRELESS SAYS...
“Roger Cole and team did a great job of meeting our needs. We were under a time crunch to find a location and negotiate lease terms. Roger gave me sufficient information to make a decision and then worked hard to meet our needs from a financial perspective. During the negotiation process, we presented several financial challenges to the landlord. Roger was able to produce results we needed in a matter of a few days. We look forward to working with Roger Cole and team again.”
- David J. Weinstein, VP of Business Development, Capital City Wireless, LLC.