Hitachi Medical Systems America, Inc.

Twinsburg, Ohio
Tenant Representation

CRESCO Real Estate represented Hitachi Medical Systems America, Inc. (HMSA) in the lease renewal negotiations for their North American Technical and R & D facility consisting of 48,724 square feet of high end space.

Approach

  • Evaluate the current lease terms and conditions. Compare, through financial modeling, the competitiveness of the existing lease.
  • Analyze the real estate market for comparable or adaptive properties and tour upper management through alternative buildings.
  • Create a market “buzz” to other Landlord’s that this high quality tenant was active in the market.
  • Alert current Landlord to the fact that HMSA would need rental incentives to remain in the current tenancy.
  • Re-work previously negotiated lease clauses to match HMSA’s three (3) to five (5) year business plan.


Results

  • The ownership of the building had recently changed and the new owner was informed of CRESCO Real Estate’s Tenant Representation of HMSA. CRESCO and the Landlord worked diligently to arrive at a fair and equitable rental structure for all parties.
  • HMSA was advised, after thorough market analysis that the Option to Renew contained in the lease document was not relevant to today’s market conditions and that they should let it lapse and renegotiate a new deal.
  • A new lease deal was completed, which lowered HMSA’s rent by over 15% and added advantageous lease terms. These lease modifications allow HMSA flexibility if they decide to develop a new U.S. headquarters campus.