NAACP
The mission of the National Association for the Advancement of Colored People is to ensure the political, educational, social and economic equality of rights of all persons and to eliminate race-based discrimination. The vision of the National Association for the Advancement of Colored People is the ensure a society in which all individuals have equal rights without discrimination based on race. The following statement of objectives is found on the first page of the NAACP Constitution- the principal objectives of the Association shall be:
The Challenge
After receiving the guidance of a competitive brokerage firm, the NAACP signed a letter of intent to renew their lease at 1156 15th Street NW at a “market rate.” Expressing the need for a second opinion, the NAACP reached out to a leading member of The Genau Group.
Solution
Upon a thorough review of the NAACP’s current and newly-proposed lease terms, a leading member of The Genau Group found that the NAACP could restructure the terms of the deal by maintaining their current space with minor Tenant Improvement Dollars and applying the unused improvement allowance as rental abatement.
Upon a thorough review of the NAACP’s current and newly-proposed lease terms, The Genau Group found that the NAACP could restructure the terms of the deal by maintaining their current space with minor Tenant Improvement Dollars and applying the unused improvement allowance as rental abatement.
The Results
A leading member of The Genau Group was able to successfully negotiate an effective rental rate that was $5.00 per square foot less than what the competitive brokerage firm had negotiated, along with a savings of $10.00 a square foot less than their current existing rate. The NAACP Washington Bureau is now enjoying a significant cost-savings with upgrades to their suite while reducing their overall costs by 20% a year.
