John was hired by Home Physicians, now known as Alegis for their headquarters relocation and expansion in Chicago. Their current location did not have adequate floor plate size to keep Home Physicians’ growing operation on a single floor. With a termination date of the lease quickly approaching, JHS advised Home Physicians to get a short term extension with the current landlord, which was accomplished with no rate increase. John was asked to find locations within five miles of their city of Chicago location with low rents, a substantially improved building image, a financially secure landlord having the cash to fund all tenant improvements, and 50 building-controlled parking spots included in the gross rent. John surveyed the prescribed area for existing buildings with floor plates large enough to handle this difficult 15,000 square foot requirement.
John negotiated a tenant improvement allowance that completely covered Home Physicians’ general contractor’s budget at an Illinois Medical District industrial/office conversion location. The building had a large parking lot, being recently vacated by 95 current users, allowing Home Physicians to control 50 spots. This is roughly twice the parking ratio available at similar office buildings within their chosen geography. Home Physicians obtained an office building with a highly efficient loss factor (10.16%), a 2.5% yearly net rent escalation, a floor within the building that incorporated HVAC into the common area maintenance fees, and a termination option. The new headquarters is only 1.6 miles due south from their prior location. One of Home Physicians cooperating business partners is also located in the building, with the Illinois Medical District being an added location benefit. John also partnered with Cigna Insurance, after its purchase of Alegis, to restructure a full floor expansion to 41,000 SF.
“John's understanding of our specific needs and knowledge of available inventory allowed us to have a focused and time effective search.”