Due to its merger with Compaq Computer, Hewlett Packard needed to close a former 125,000 sq-ft Compaq facility and decide whether to sublease or terminate the lease.
ARVO Realty Advisors was engaged to evaluate the options for disposition based upon its analysis of the property, location, and market conditions.
The team developed a strategic marketing plan based on the quality attributes of the property deemed attractive in the marketplace.
The marketing strategy yielded great interest among prospective users and developers.
In a very challenging market, a lease termination agreement was successfully negotiated. This transaction saved Hewlett Packard in excess of $130,000 by eliminating future lease payments and operating cost.