Termination, renewal and purchase options give long-term control on top of total deal savings of over $1.1 million.
Syracuse Orthopedic Specialists (SOS) is the regional leader in providing orthopedic care to patients in Central New York, with over 15+ locations comprised of therapy offices, clinics and surgery centers.
SOS was looking for another facility that could fit all their medical needs and was having trouble finding a place to meet their parking requirements. The search was tougher since they wanted to maintain their presence in the Syracuse area since it was going to be one of their main locations.
The BellCornerstone Approach
BellCornerstone first scouted the Syracuse market for vacant spaces as well as occupied spaces that were currently leased with tenant’s looking to vacate. After narrowing down the list, BellCornerstone was then able to leverage the lease from one SOS deal against another in order to get a rent reduction and an overall increase in savings for SOS.
SOS received a total savings of over $1.1 million on the new deal. BellCornerstone also met SOS’s main requirements of ample parking in a well-located and accessible facility. The deal also includes options to terminate, renew and the right of first offer, giving SOS long-term control over the life of the lease.