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Case Studies - Lease Restructuring

Real Examples That Demostrate Why We Are Considered The Industry Leader

  In 2001, Eckerd was evaluating whether to renew leases at various store locations throughout the country. Excess Space utilized our in-house expertise together with the assistance of our local network brokers to evaluate the real estate on unprofitable locations. Using the results of the evaluation process, we implemented our proprietary in-house strategies to negotiate significant rent reductions on both the remaining base terms of the leases and the upcoming options to renew.

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Charming Shoppes
  Charming Shoppes initially engaged Excess Space as part of a test program consisting of 91 lease renewals and extentions. Excess Space not only provided tremendous savings, but also brought a structured process to the lease renewal program. As a result, Charming Shoppes then significantly expanded the lease renewal program with Excess Space.

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West Marine
  In 2008, West Marine was determined to take forward looking measures to reduce real estate occupancy costs. After an extensive search, West Marine retained Excess Space to exclusively manage and implement a national best-in-class lease renewal & restructuring program. Excess Space's results have been nothing short of spectacular, netting a total saving of over $25,000,000 with an average savings of over $167,000 per transaction!

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National Specialty Retailer
  This client was in need of a strategic partner to help facilitate and manage their lease renewal initiative. In 2008, Excess Space was chosen to exclusively manage this process for the majority of their portfolio. Implementing our best-in-class lease renewal program, inclusive of in-depth due-diligence and a meticulous negotiation process for each location, Excess Space has reduced the client's occupancy costs by over $33,000,000.

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National Discount Retailer
  A national discount retailer was seeking to implement proactive measures to solidify its store base while at the same time reducing real estate occupancy costs. In 2009 Excess Space was chosen to manage one-half of the properties assigned to this program (with the other half allocated to other service providers). We significantly outperformed the other service providers and were subsequently awarded the entire project in 2010. Due to our success, this ongoing initiative has become an integral part of the client's overall real estate strategy.

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Jamba Juice
  In 2008, Jamba Juice was searching for strategic alternatives to quickly reduce their real estate occupancy costs. Excess Space was engaged to execute this process on their entire corporate store base of over 500 locations. Within 60 days our team reached out to all of Jamba Juice's landlords and successfully reduced occupancy costs at over 38% of the locations!

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