Walter and Elise Haas Fund, San Francisco
The Challenge
The Polatnick Team was hired by the Walter and Elise Haas Fund, a San Francisco institution that has worked to improve the quality of life in the Bay Area for over six decades. After ten years in the same location, their lease was up for renewal, and the premises were in need of costly renovation. David Polatnick was chosen for his extensive experience with tenant representation, specifically his work with non-profit tenants.
The Solution
The Polatnick Team conducted an extensive review of the marketplace and identified multiple viable options for relocation. Concurrently, the team conducted a complete investigation of the benefits and disadvantages of lease renewal. After Haas choose their top spaces, they developed a space plan and financial analysis of each property, outlining the costs for desired improvements. Provided with this information, the team worked together with the Haas Fund to compare each option, analyzing the short and long-term implications of each.
The Result
Armed with a comprehensive understanding of current market rates and supported by available property options and construction costs, Haas was able to negotiate a new 10-year lease with a very favorable rent and above-standard tenant improvement package. By working with David Polatnick and his team, they secured an agreement which had a 65% increase in value above the landlord’s original offer.