Infineon Technologies – Tenant Rep
CLIENT: Infineon Technologies (Infineon)
OUR ROLE: Tenant Representation
BACKGROUND: Infineon approached us as they were expanding their business operations in Dublin and would outgrow their current office (c. 5,000 sq.ft) which also had a lease expiry within 12 months. Covid had accelerated the conversation around WFH & office occupancy and Infineon were unsure how much space they would need in this new dynamic.
HOW WE HELPED:
a) Initially we brought in a well-known firm of workplace architects (RKD) who interviewed and surveyed Infineon staff and based on their findings, drafted a series of layouts for the client to consider. Following discussion, it was agreed that a footprint of c. 13,000 sq.ft would be optimal.
b) Once we agreed the key criteria around location, type of building and budget, we prepared initial search options to include financial costings on each.
c) Following a series of inspections and further cost analysis, we identified a floor within a new Grade A building close to their existing office.
d) Engagement with the landlord’s agent eventually led us to negotiating a complex pre-letting deal with a competitive rent and commensurate incentive package.
e) Our real “add value” in this transaction was during the legal process which was very complex and was proving stressful for the client. We were very “hands on” with the client and their solicitors in ensuring key clauses were negotiated fairly. We also explained any legal terminology in simple terms so they client could understand the implications.
f) We introduced Infineon to several fit-out contractors and ultimately a preferred provider was selected.
g) Once both legals and fit-out were finalised, we introduced the client to an established office re-location company who helped them with the move.
h) Finally, as the process had been delayed due to the complexity of the legal negotiations, we had to agree a short-term extension for their existing office.
OUTCOME: The client was delighted they had gone through a very detailed process in arriving at the correct size of space to allow future proof business expansion. Having seen various options (both fitted and non-fitted) in a variety of locations, they were pleased with the type and location of the office building they chose.
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