Challenge:
GFK had acquired Simmons Research with plans to merge the firm into the GFK office downtown. The Simmons Research space at 1001 Avenue of the Americas had to be subleased out. The space was in good condition so they wanted to make sure they received a good rent price so that they could recover their costs. On top of this, it had to be a good credit tenant so that there would be no defaults causing the space to be back on the books.
Action:
Richard Plehn, Lisa Ann Pollakowski, and Woody King were retained by GFK in March 2019 to sublease the Simmons Research space. The Simmons Research space was in pristine condition and felt ideal for a tech firm. With the idea of a tech firm in mind, Richard, Lisa, and Woody tailored their plan to specifically target tech firms. They did this through numerous outlets such as creating fliers specifically designed to appeal to tech firms. These fliers were then sent out to these tech firms in order to create exposure for the available space.
Results:
Richard Plehn, Lisa Ann Pollakowski, and Woody King subleased the space by Mid-June. The space was subleased to the credible tech firm CertiK. Not only was the space subleased to a credible tenant, but above-market rent was achieved
