Haworth Marketing & Media is a creative advertising agency. The company’s focus on talent recruitment and retention led to a need for expansion to 30,000 SF on two floors.

Haworth Marketing & Media hired Cushman & Wakefield to assist them in in a period of transition in which they lost the Target account and then won an even larger account with Walmart. They struggled to grow in an almost fully occupied building while keeping their talent and culture connected on four separate floors. Additionally, they needed to amend their lease to reflect the finite nature of short-term clien contracts.

Solutions:

  • Work with ownership and Haworth to identify adjacent tenants with upcoming lease expirations or relocation rights in order to acquire contiguous spaces for Haworth expansion needs.
  • Leverage Haworth’s story, legacy in the building, and new customer base growth to negotiate flexibility in the lease.
  • Explore the market to provide Haworth with an updated sense of the market, value of space, and Haworth’s tenancy.
  • Develop a customized project timeline, project budget, and systematic implementation strategy.

Results:

  • Over a 12 month process we expanded Haworth form 25,000 SF to over 30,000 SF while simultaneously consolidating their footprint from four floors to just two, with a stair case connection.
  • We negotiated an iron clad contraction right that gave Haworth the lever to give back up to 50% of their space and lease obligation should their customer base shrink.
  • We achieved below market rates that were structured in lock step with the existing rate schedule for minimized disturbance.