Case Studies

SRI/Principal - Oliver Stebich
(Fine Art Installations, Storage & Shipping)

When we first met Oliver he was looking for storage and office space to house his new business. 

The requirements were unique due to a variety of restrictions set by his insurers.  No buildings with wooden joists (fire) could be considered nor could we look at basement space (flooding).  The size of the freight elevator/loading docks and their accessibility were of primary concern. 

SRI’s concerns were the opposite of what we normally encounter.  No building agents could give us accurate information, so we decided to employ a more hands on approach to shorten our list of potential spaces.    

After an exhaustive search, we found and negotiated for a 7,500 sf floor at 11th Avenue and 45th St.  The space started out as 8,000 rentable square feet.  After we studied the plans, we felt the loss factor was high and got it reduced by 15%.  As part of our negotiation, we got the landlord to install new freight elevator doors and modify the opening on his floor.  When space became available on a contiguous floor, SRI was able to expand onto it on the same terms as in his existing lease.

With his business growing, Oliver needed additional space outside of the City.  We scoured the NJ market on his behalf for a potential lease or sale.  We even examined a lease-purchase joint venture proposal for a building then in contract. 

Ultimately Oliver decided that the best use of his capital was to reinvest in his business and in the first quarter of 2005 signed a lease for 35,000 square feet in Clifton, NJ.