CHALLENGE. When Velocity Technology Solutions acquired Titan GS in Charlotte, NC, the legacy Titan GS office space had approximately two years remaining on the lease and was located in a suburban office market with a challenging space configuration and a lackluster aesthetic feel. In addition, Velocity Technology Solutions made the decision to relocate its headquarters from New York to Charlotte shortly thereafter, with the target of finding a new space that would offer a more open and collaborative layout with upgraded finish levels.
IMPACT. Challenged by finding a creative solution to overcome the limitation of having two years of remaining lease obligation, our brokerage team quickly identified several possible sublease solutions in the market that could offer a flexible solution and meet the parameters of the search.
The end result was a negotiated long term sublease transaction of +/- 22,022 RSF in the SouthPark sub-market. The space was previously occupied and constructed by Turner Construction and designed by world-renowned architecture firm Gensler. Our team negotiated a highly creative and flexible rent structure that allowed Velocity to absorb a large portion of the current rental obligation. In addition, the furniture, fixtures and equipment were negotiated into the transaction as an additional concession, which allowed for a true plug and play opportunity for Velocity and aligned with their business strategy.
Velocity Technology Solutions