AAA Mid-Atlantic Inc – 15 Year Build-to-Suit Lease
15 Year Build-to-Suit Lease – 120,000 SF Office Building
AAA occupied an outdated call center that was overcrowded and in need of an upgrade. After an extensive search, they decided to do a 15 year build to suit lease less than 1 mile away that addressed all their concerns for modernization as well as accommodated growth into the future. As part of the transaction, the landlord took the excess land AAA owned at existing site off of AAA’s books. With seven (7) years remaining on the lease, AAA was looking for ways to reduce their rent on their books. An early extension of five (5) was negotiated where free rent lowered their GAAP expense. In addition, by extending the lease they were able to spread out the depreciation on tenant improvements which resulted in additional savings.