Shell Oil Company

Challenge

Shell Oil Company retained ARVO Realty Advisors, along with our strategic partner, to provide tenant representation services for expansion of office space and extension of its current lease for office space in downtown Houston. Shell Oil instructed ARVO Realty Advisors to find office space for lease in the Central Business District (CBD) with strong preferential rights. (CBD office space was scarce.) Shell Oil also needed swing space to accommodate its interim growth needs pending the expansion.

Solution

First, ARVO Realty Advisors focused on finding suitable office space options, and then narrowed its selection to properties where office space of the required size and amenities was available.

ARVO Realty Advisors successfully completed the assignment within the client’s objectives by:

  • Developing a strategic plan
  • Developing leasing goals
  • Reviewing and analyzing existing lease
  • Preparing a competitive property and market analysis
  • Identifying a short list of qualified options
  • Conducting property tours
  • Preparing lease proposals and financial analysis
  • Negotiating lease terms, including terms for swing space tenancy and option to lease swing space
  • Negotiating terms for use of parking spaces at below-market rates
  • Reviewing, analyzing and negotiating lease agreement
  • Post execution follow up

 

Result

Assignment was completed on time and on budget.