To achieve an expansion, Prima also would have needed to remodel while occupying its current space. The firm was also not thrilled about its lack of on-site parking. However, with time running out, Prima had pretty much decided to renew its lease at a reasonable rate and reluctantly get on with a messy and disruptive remodeling process.
Normally we advise our clients to get started on a renewal or relocation nine (9) to twelve (12) months in advance. Given Prima's terribly brief 90-day deadline, we nevertheless accepted the assignment, because we thought that renewing was far less than the optimum solution.

We also knew that Prima Energy was extremely rate conscious. Consequently, we considered only sublease spaces that either had a significant amount of lease term remaining or ones that could be converted to a direct lease due to a healthy subsidy from the current tenant.

By October 1st, we had identified and toured several options. A key but absolutely necessary variable was choosing a space with a Landlord or Sublandlord that could act incredibly quickly and live up to its aggressive promises. A StorageTek sublease space at Plaza Tower at Denver Place seemed to fit the bill perfectly. The space's configuration appeared to work with relatively easy modifications and the Landlord was very willing to pursue a direct lease. Best of all, Prima could initially fit on a single 16,000 square foot floor.

Plaza Tower at Denver Place was a superior project to Prima's space at 1801 Broadway. It had many amenities on-site and was far more convenient to the desirable restaurants and entertainment located in LoDo. In addition, Plaza Tower offered more than double the on-site parking of 1801 Broadway. Lastly, since Prima was in a major growth period for the natural gas industry, we negotiated successfully for expansion rights on both of the floors above and below the initial takedown, as well as on a third floor higher up in the project.

On November 1st, Prima Energy signed a new long-term, direct lease. The firm moved in on time to a newly renovated, full floor at Plaza Tower at Denver Place on December 1st. Prima's space was delivered on a turnkey basis, including voice and data network cabling, at no additional cost to the Tenant, and without having to live through a dusty, disruptive, remodel-in-place fiasco. In just 90 days, MacLaurin Williams* had saved Prima an estimated 15%, or $365,000, versus a renewal……and secured a better building, better amenities, better parking, better expansion rights and better productivity -- by being on just one floor.

*due to company name change since this event occured alterations have been made in order to refrence MacLaurin Williams' current name.