THE MOTHERHOOD CENTER
The Motherhood Center, a startup company that assists and educates new parents, was in the early stages of their business life raising capital and needed to establish their first location in New York. Its objective was to obtain a long term lease in a central location where it could create an open and comfortable environment for its clients. The unique quasi medical nature of the business, the fact it was a startup with no previous location and finding a suitable location with modern “warm feel" posed several challenges regarding use and structure of the lease. Of particular importance to The Motherhood Center, was the feel of the space to attract quality clientele and to maintain a minimal security deposit.
Course of Action
InterRelate Group conducted a survey of the entire Manhattan market vetting numerous buildings to ensure that the quasi medical use, the location and feel of the space were suitably matched. After touring all qualifying buildings, we presented detailed proposals of all relevant transaction terms to a short list of spaces. We needed to ensure that the financial structure of the deal suited the start-up nature of our client's business, including the fact that they were raising capital. We needed to create competition among several landlords to obtain a transaction structure that included a package of favorable incentives acceptable to our client.
InterRelate Group successfully negotiated a new lease transaction at 205 Lexington Avenue. The new Motherhood Center opened in New York under a new lease that boasted favorable transaction terms including an extensive package of concessions that provided a modern office facility featuring new bathrooms and build-out. The minimal security deposit satisfied the need for the Motherhood Center's company structure.