DataMyte

DataMyte provides quality management tools and data services to Fortune 500 manufacturers from their Minnesota headquarters that houses engineering, finance, and instrument manufacturing processes. Their initial request was to potentially relocate to an appropriately sized facility. Element reviewed over 20 potential relocation options, after consultation with DataMyte we narrowed the best 10 space solutions including an option provided by DataMyte’s existing landlord. Element created a comparison matrix highlighting location, size, and quoted rents to narrow the list to the existing location option and the three best alternative options. We then completed the RFP process with this option set. Using Element’s proprietary Occupancy Cost Model, we were able to define the expected costs of new space against the cost of the expansion option provided by DataMyte’s existing landlord. Through a series of negotiations with the existing landlord and the alternate options, we were able to confidently push for several landlord concessions knowing DataMyte’s next best alternative was a viable solution.

DataMyte’s executive team valued our approach, which relied on actual data (rather than an estimate of market rates and potential landlord concessions) to identify that the best solution was to expand operations at their existing location. The total savings from the first landlord proposal to final lease terms was more than 15% annually. Element also assisted in the negotiation of the expansion lease including tenant improvement allowance for the buildout of new office and expanded production floor square footage.

Completed at McRoberts Real Estate