The Mehigan Company recently helped relocate The Management Trust to a new 8,000rsf office for their Portland Metro operations. The transaction was completed for space at South Place, a Class A office building in Tualatin, Oregon.
We have had the good fortune to serve The Management Trust throughout the Pacific Northwest for over 20 years. The Management Trust is one of the most highly regarded management companies for homeowners associations throughout the Western States.
In the past few years real estate professionals often talk about how transactions take 2x as long, TI’s cost 2x as much as they did a couple years back, and 2x as long to build. Coupled with longer permitting times, transactions can be a challenge for tenants. As all that time and money really need to be managed in a transaction. The expense of a real estate manager’s time, and the detail needed to control costs requires a lot of effort for tenants.
For the best results, The Management Trust therefore the real estate transaction process in a very professional and detailed manner. First, they start early. To spread the work out. In this case, we started evaluating relocation sites 12 months before their lease expiration. The Management Trust tries not to move offices unless necessary. So TI’s last a long time. In this transaction we were able to jointly negotiate for a significant TI dollar amount to cover their TI needs.
The Management Trust made the transaction very successful by starting early. And when it came to TI’s they were meticulous in how to apply the dollars to get the best TI results.
We always find that the best transactions occur for tenants, when they and their service provider work together effectively. That’s what happened here as it does always in our relationship with our very fine client.