Last Quarter, Tanner Mason and Joe Lengyel had the opportunity to work with Trips for Kids. We were able to save them money on their new lease, by looking at their space needs and navigating through negotiations with the landlord on their behalf. Joe Lengyel was able to help this non-profit find 2,150 SF of space in Arapahoe County. We are honored to have had the pleasure to work with such a great non-profit.
Trips for Kids Denver Metro is dedicated to giving under served and at-risk youth the opportunity to experience and learn more about the natural beauty of Colorado, from the seat of a mountain bike. Trips for Kids strives to give children the chance to see a different side of Colorado. They also work to expand their understanding of what each child can achieve, and to make personal connections with the natural world. Trips for Kids Denver Metro is a member of Trips for Kids, a 501(c)(3) nonprofit organization based in Marin County, California. Founded in 1988 and now operating in over 75 locations throughout the United States, Canada and Israel (information pulled from Trips for Kids Denver Metro website). Trips for Kids Denver Metro strives for excellence and quality in all facets of its programs starting with their values of safety, compassion, integrity, respect, and fun!
According to Joe Lengyel, “cost control and anticipating future expenses was paramount to getting a deal done. Being a non-profit, Trips for Kids has to have every dime spent approved by a board”. The starting ask was $12.00/sf/MG, including the NNN’s at 3.90, with $0.50 cent hikes scheduled every year. The Landlord was also asking for a personal guarantee and a Credit Check application to be filled out by a member of the board for security. Joe Lengyel, with the guidance of Tanner Mason, was able to negotiate the terms to bypass the personal guarantee by explaining the purpose of the non-profit and showing them their exemplary track record and contribution to the community.
The cost per square feet and $0.50 cent rate hikes were the next major negotiating points. Benchmark Commercial negotiated only $0.25 cent hikes, but the $12/sf price was cost prohibitive for the non-profit. Ultimately Benchmark Commercial Real Estate was able to lower the rate to $11.50, and to ensure that the rate remained unchanged for the duration of the lease. Though the net effect of this is the same overall cost for the entire lease, we were able to give Trips for Kids the gift of seeing the future, which has allowed them to anticipate the upfront cost for the duration of the lease.
