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ExclusiveTenantRep.com Assists T. Parker Host, Inc.
with a 9,000 sq. ft. Office Lease in Downtown Norfolk
NORFOLK, VA, 3/17/08 – ExclusiveTenantRep.com announced
it successfully assisted T. Parker Host, Inc. www.tparkerhost.com
with closing a lease for 9,000 square feet of office space at 600 Plume
Street East in Downtown Norfolk, Virginia.
For over 85 years, T. Parker Host, Inc., has provided professional and
competitive services to a wide range of leading shippers and receivers.
It handles a variety of import and export commodities throughout the
ports, including grains, fertilizers, chemicals, scrap, and clean and
heavy oils
.
T. Parker Host, Inc., had received an eviction notice from the City
of Norfolk with a deadline to relocate their offices. The City intended
to acquire their existing property to accommodate a convention center
hotel and public parking deck. They retained ExclusiveTenantRep.com
to handle the transaction. ExclusiveTenantRep.com negotiated with the
City of Norfolk’s Business Development unit to achieve a settlement
for unamortized tenant improvements and other expenses Host was entitled
to prior to lease termination and ultimate relocation
.
In addition, Host retained the services of ExclusiveTenantRep.com to
provide a thorough market search of Downtown Norfolk office inventory
to find a permanent headquarters location for the firm. In the end,
an extremely favorable 15-year lease was negotiated providing for substantially
below-market rents and above-market tenant improvement allowances. It
also allowed Host a series of exit strategies throughout the life of
the lease in the event of any slowdowns in the shipping industry.
Located in Virginia Beach, Virginia, ExclusiveTenantRep.com is the only
locally-owned and -operated commercial real estate brokerage and advisory
firm that exclusively represents business and institutional tenants
and buyers. The firm was founded by Timothy J. McEvoy, SIOR, an experienced
commercial real estate broker with over 20 years experience in the field.
Because ExclusiveTenantRep.com solely advocates for tenants and buyers,
the potential conflicts of interest that can occur are eliminated and
the firm can evaluate and negotiate those properties best suited to
its corporate clients’ needs.
ExclusiveTenantRep.com is an affiliate of the International Tenant Representative
Alliance (ITRA) which, with representation in over 68 cities, is the
leader in exclusively representing corporate buyers and tenants worldwide.
Its affiliates advocate for clients to find the optimal property and
then assist them in negotiating the best possible lease terms. Throughout
the process, this global organization provides knowledgeable and objective
advice from local office leasing professionals. ITRA firms do not work
for landlords or real estate management companies, eliminating the potential
conflict that exists with traditional brokers.
For more information about ExclusiveTenantRep.Com, contact Timothy J. McEvoy, SIOR, at Tel. 1.757.747.7440/ FAX 1.757.313.6634 or visit www.exclusivetenantrep.com..
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