Payroll Services new Corporate headquarters in Clifton Park, NY
Situation
Payroll Services' lease was expiring as they approached the busiest time of their year. Unsure of their options Pay Services turned to Larkin Commercial Properties, Inc. for expertise and guidance. Needing more space, Pay Services required lease management with its existing space, needs analysis for the future and an analysis to determine whether leasing or owning would be more cost-effective.
Process
After performing a Lease vs. Buy Analysis we used our extensive databases and technologies to perform a site location analysis to find the right property for Pay Services. In order to develop a plan to meet Pay Services' future and present needs we assembled a team that streamlined the building process. Two of the challenges we faced were building and moving Pay Services into a new building based on a tight time schedule and locating a suitable tenant to lease the remaining space. After identifying and coordinating with a builder to provide timely construction of a 10,000-square-foot office building we located a tenant for the remaining space handling both the Landlord Representation and Lease Negotiations on behalf of Pay Services.
Result
Our detailed analysis determined that owning a building would be less expensive than leasing space. In a very short time a site was located and a professional builder contracted with that could meet Pay Services ’s tight time constraints. Larkin identified and negotiated with a tenant to lease remaining space that was available. The lease was signed one month after Pay Services completed construction.