AT&T Renews for a 7-Year Stretch
AT&T Renews for a 7-Year Stretch
Transaction Size: 208,000 RSF
Broderick Group was hired by the owner of Redmond Town Center Buildings 1-6, Shorenstein Realty Services, to help negotiate with AT&T. AT&T engaged the competitive market to find a location that better suited their diminishing size requirements and matching desired rental rate.
Landlord Benefit
The Broderick team provided AT&T the ability to downsize by one full building, helping the Tenant save on overall costs and reduce headcount to their optimum size. In return, Shorenstein achieved a healthy market rate and 7 year term on Buildings 1 & 2. The Landlord can now offer an entire building (Building 3) for lease in 2017 in a tight office market.