Stamford, CT Choyce Peterson, Inc. has completed lease negotiations to renew the 8,200 s/f headquarters for Keep America Beautiful at 1010 Washington Blvd. Choyce Peterson principal John Hannigan and vice president Adam Cognetta represented Keep America Beautiful in the transaction. The landlord was represented in-house by Larry Kwiat, senior vice president of leasing, at SL Green Realty Corp.
Hannigan and Cognetta negotiated a long-term lease that included a below-market rental rate and structured periodic free rent. The landlord also agreed to pay for upgrades and improvements to the space. Renovations included a new and expanded kitchen, new ceiling tiles and LED lighting, fresh paint and new carpet throughout the space. Further space improvements came in the form of HVAC enhancements and a full restroom remodel, with much of the work performed outside normal business hours.
“When our clients are considering a lease renewal, we discuss problems they have with their existing space, including issues with HVAC, common hallways and bathrooms and the building itself,” Hannigan said.
“We develop a list of tenant concerns we request that the landlord address. We were successful in achieving positive results for Keep America Beautiful that corrected issues detailed in our negotiations with the landlord.”
As a result of the new lease, Keep America Beautiful’s operational overhead costs are expected to decrease.
“We were delighted to be selected as the broker for Keep America Beautiful, partnering to achieve a myriad of space objectives while ensuring real estate expenses remain in-line with the organization’s annual operating plan,” Cognetta said.