Hellmuth, Obata + Kassabaum, Inc. (HOK)

St. Louis, MO
57,000 SF
CresaPartners St. Louis

 

Client Objectives

One of the largest architectural firms in the world, HOK, wanted to consolidate its corporate headquarters into an architecturally interesting space that would facilitate collaboration among its employees, achieve LEED certification, and showcase HOK design abilities in a cost-effective manner.

Result

Working closely with HOK’s Executive Committee, CresaPartners developed specific space standards and total occupancy cost goals. During the strategic planning process, it became clear that HOK strongly desired to occupy one contiguous space. The challenge was that HOK would need over 50,000 square feet, and there were very few spaces this size in downtown St. Louis. CresaPartners conducted a thorough market evaluation focusing on not only traditional spaces, but creative “out-of-the-box” ideas, and generated over 20 options ranging from traditional office to warehouse/retail conversions. Working closely with HOK’s design team, CresaPartners coordinated base building due diligence and developed detailed cost estimates to ensure there were no surprises should HOK wish to undertake one of these options. Ultimately, HOK decided to occupy the lower floor of a class A building with a 57,000 SF floor plate and 16’+ ceiling clear height. This unique design allowed CresaPartners to negotiate the right to allow HOK to install skylights in the space, which provided much needed natural light. Additionally, CresaPartners negotiated an aggressive rental rate and TI allowance which allowed HOK to completely renovate the space. Overall, HOK was able to reduce its total square footage by over 10,000 SF, thus reducing its total occupancy cost.

Additional Assignments

  • Real Estate Portfolio Management
  • Lease Administration
  • 20+ transactions ranging from 1,500 to 60,000 sf on 4 continents