How iO Partners helped Eurowag navigate lease complexities

Specialising in financial services for the transportation industry, Eurowag underwent significant expansion and gradually took over the entire office building where they were renting, resulting in numerous lease amendments. With only 16 months remaining on its current lease, there was insufficient time to complete a comprehensive stay-versus-go analysis. 

To further complicate matters, Eurowag had already received an initial offer from the landlord to extend its current lease. With an understanding that its lease could be optimised and simplified, the company engaged iO Partners to help navigate its unique situation. 

iO Partners began the process by creating a lease abstract from all the available lease amendments and invoices to consolidate the lease information. All areas of the property were then remeasured using DWG documentation. 

The next step was developing a shortlist of viable options that met Eurowag’s strict criteria and preferred locations. The team simultaneously conducted negotiations with the landlords regarding the lease terms and commitment to investment in the building.

Through several rounds of negotiations, iO Partners was able to produce a brand-new, streamlined lease agreement that saved Eurowag 12,59%. Taking just nine months from kick-off, the team ensured early implementation of the new, negotiated lease terms, ensuring a fast and efficient transition. In addition, the new agreement eliminated reinstatement obligations in the event of Eurowag’s future relocation and secured a commitment from the landlord to invest in building improvements.