Having previous success negotiating the original Gardner lease at 19% below the landlord’s asking rent, and the first renewal also on favorable terms, Gardner once again turned to Collins Industrial Group and team leader Jeff Collins to serve as Exclusive Tenant Representative. One important right Collins negotiated to protect since the original lease was the option to renew with a modest rent escalation formula. This meant Gardner could, at least, renew for the same 65,000 sq. ft. space effectively preempting Tenant X’s expansion plans and then negotiate with the landlord over the rate for the remainder of the building. Collins conferred with Tenant X’s representative to make sure they knew Gardner had a renewal option and would use it if necessary to protect the space it already occupied. Next, Collins assisted Gardner in constructing its letter of intent essentially offering to take the entire building for the same long lease term as the previous two terms, but at a much more favorable rate than the than the current market rent. This commitment would result in 100% occupancy with a credit tenant and long term lease benefiting the landlord and, Collins argued, likely future renewals by Gardner. Collins emphasized the successful track record of Gardner and steady growth making Gardner the best alternative for the landlord compared the Tenant X or a new tenant. After making the successful argument that Gardner was the best tenant for the building, earnest negotiations followed which brought the landlord’s second offer down to the low end of the market rent range. Collins remained confident, however, that Gardner’s strong credit and long term lease would benefit the landlord sufficiently to justify persevering to obtain the still lower starting rental rate originally targeted, which was finally agreed to between the parties.