Leasing With A Vision: How IPT Delivered Value for Landlord and Tenant
Leasing With Vision: How IPT Delivered Value for Landlord and Tenant
(Case Study)
Project
Project Overview
The Robert S. Howley Company, led by Andy Howley, owned a flex property at 6260 Huntley Road and sought to lease out 7,375 square feet of space while retaining 1,700 square feet of office for their own use. The available space included a large showroom/office component and a relatively small warehouse area, which presented unique challenges in a market where most tenants prefer full-building occupancy.
Approach
Challenges & Solutions
- Challenge: The configuration of the building—5,825 square feet of showroom/office and only 1,550 square feet of warehouse with two drive-in doors—limited its appeal to traditional industrial tenants. Additionally, many prospective tenants were only interested in leasing the entire building, which would have required relocating The Howley Company.
- Solution: The NAI Ohio Equities Industrial Property Team (IPT), led by Matt Osowski, launched a targeted marketing campaign focused on tenants needing large showroom or classroom-style space. Despite multiple showings and proposals, the team faced a slower-than-expected leasing process. However, with persistence and collaboration with Cushman & Wakefield, they secured a deal by offering competitive tenant improvement allowances and a timeline that worked for both parties.
Execution
The IPT remained proactive throughout the leasing process, adapting their strategy to highlight the property’s strengths and appeal to a niche tenant base. After several rounds of proposals and negotiations, they reached an agreement with CTI, a tenant whose needs aligned well with the space. To accommodate CTI’s full-building lease, IPT also helped Andy Howley identify and purchase a new property, enabling The Howley Company to relocate and expand its real estate portfolio.
Results
CTI signed a 7-year lease for the entire. 8,984-square-foot building at 6260 Huntley Road. Simultaneously, The Howley Company acquired a new property to serve as its headquarters, supporting its long-term growth strategy. The IPT’s creative problem-solving and market expertise resulted in a win-win outcome for both landlord and tenant, while also helping a valued client expand their investment footprint.
Matt Osowski and the NAI team have been fantastic to work with over the years. Matt’s knowledge of the market, industry, and guidance through complex contract negotiations have been critical to my success.
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