Ono Sokki Technology, Inc. provides leading-edge testing instrumentation products that measure technical performance for a wide array of industries. For 50 years, they have been servicing automotive manufacturers, aerospace and defense, the paper and chemical field, optical and medical equipment users, shipbuilders, etc. After many years at the same location and with 18 months remaining on the lease, contractual rates increases had driven Ono Sokki’s rent to above market. SCGroup Real Estate was retained to implement a creative solution that didn’t involve a move. We worked with their Landlord to negotiate a more affordable rent that took effect immediately (a blend and extend transaction) and agreed upon a lease amendment that extended their tenancy out for a total of 5 years. Savings were significant and a move was avoided.
