Maritime Place Space Reconfiguration

PROJECT TYPE

Office Relocation

SCOPE OF SERVICES

Tenant Rep, Site Selection, Project Management

PROJECT SIZE

20,000

LOCATION

Pensacola, FL

PROJECT DETAILS

The STRUCTURE team was engaged by Warren Averett (WA) to help it complete an internal strategy for its future occupancy plans in the Pensacola market.  The local team was growing through acquisitions in recent years but the layout and design of the current office were inefficiently positioned on two floors.

The final result of our work with Warren Averett was i) an upgrade in the overall building to the new modern Class A Building along the Pensacola Bay with signage capability on the top of the building, ii) consolidation onto one floor the entire operations that lead to a 40% reduction in space size without sacrificing employee count, and iii) ‘turnkey’ tenant improvement funding by the landlord so WA did not have to get internal capital funding to build out the space. Overall lease savings in year 1 was 34% and over $3.2 million over the term of the lease.