CoreBiome is a microbiome analysis & sequencing company providing affordable and highly accurate profiles of human and other microbiomes. CoreBiome's CEO approached Element after a recent merger. Initially Corebiome attempted the search for new space on their own, but realized how daunting a task it is to both identify suitable spaces and compare potential lease economics, all while continuing to run business as usual. Part of the challenge is in the fact that different Landlord proposals include different space rental approaches and landlord/tenant responsibilities, in turn making it difficult to compare offers apples-to-apples.
CoreBiome asked Element to review potential options previously identified, but also to help refine CoreBiome’s space requirements including: specific laboratory size and functional needs, office space needs, and their need for a space that would easily accommodate future growth. Additionally, they wanted to focus on geographic locational needs to meet existing employee home/work travel, as well as to help promote future employee recruitment efforts.
Element dug in right away, first touring previously identified options, but also suggesting new options based on their understanding of CoreBiome’s needs. After review of all the previously identified and new space options, including deal analysis using Element’s proprietary Occupancy Cost Model, CoreBiome selected an Element proposed option which was a 22% savings on a per square foot basis over the term of the lease compared to the originally identified options.
* Corebiome has rebranded as Diversigen