Weatherbug
WeatherBug, the leading provider of weather information services, manages and operate a proprietary network of over 8,000 WeatherBug Tracking Stations and more than 1,000 cameras that are strategically placed at schools, public safety facilities and television stations throughout the U.S. These professional-grade weather stations generate live neighborhood level reports every second (unlike other weather providers; their data is up to an hour or more old).
Challenge
WeatherBug is headquartered in Germantown, Maryland in a Class A building, occupying 45,000 sf of office space with an excess of 1.5 years remaining on the Lease. A leading member of The Genau Group provided a financial model that displayed the costs of moving vs. renewing to reduce their overall total expenses over the next 5 years.
Solution
A leading member of The Genau Group worked with WeatherBug to understand their needs and economic challenges of renewing or moving to an alternative location. After touring the market of comparable spaces and considering renewing/restructuring with their current landlord, WeatherBug decided on the latter.
A leading member of The Genau Group worked with WeatherBug to understand their needs and economic challenges of renewing or moving to an alternative location. After touring the market of comparable spaces and considering renewing/restructuring with their current landlord, WeatherBug decided on the latter.
Results
A leading member of The Genau Group successfully negotiated a lease restructure, reprogramming WeatherBug’s current space plan with additional Tenant Improvement dollars, rental abatement and reducing their base rent and overall expenses $8.00 a square foot over the renewal lease term. Also, as representative for WeatherBug, they successfully negotiated with Montgomery County, Maryland the right to display a sign on the building facing I-270 that had been rejected 2 previous times.
