Real Estate Strategies Corporation Unlocks Liquidity Hidden in York Telecom Headquarters Lease, Renegotiates Long Term Transaction
(June 23, 2009, Somerset, New Jersey): Andrew Zezas, SIOR, President and CEO of Real Estate Strategies Corporation, the New Jersey based corporate real estate advisory and transaction services firm announced today that it completed a lease renegotiation for Eatontown, New Jersey based York Telecom Corporation. York Telecom occupies a 30,238 square foot single story office building at 81 Corbett Way, Eatontown, New Jersey. The new lease term is for fifteen years. "York Telecom was in an interesting position to avail itself of current market opportunities, especially given the Company's recent growth under its President & COO, Ron Gaboury" said Andrew Zezas. He continued "Resulting from the execution of a financially and operationally focused strategy, York was able to secure significant overall benefits by renegotiating its headquarters lease and extending it from a three year term to a fifteen year term. The result was a new transaction that afforded York significantly lower annual occupancy costs, a substantial landlord provided cash allowance to fund improvements, and a long term cost-effective and predictable rental structure. The landlord benefited by securing a long term and profitable relationship with York Telecom thereby, reducing its risk in what is certainly a challenging market for commercial landlords." |
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Separately, on York
Telecom's behalf, Real Estate Strategies Corporation is marketing 7,200
square feet of office space for sublease at 6 Industrial Way West, Eatontown,
New Jersey.
York Telecom provides global enterprise visual communication
solutions, and serves a wide array of clients around the world, including
US Federal, State & Local Government, Corporations, Law Firms &
Financial Firms, Educational Institutions, Health Care Facilities, Broadcast
& Production Studios. York Telecom has more than 20 years experience,
and covers the globe from its Eatontown, New Jersey headquarters, and
from offices around the world. York Telecom has unparalleled knowledge
in professional consulting, integration and operational services for visual
communications systems, and knows how to deploy those technologies to
optimize its clients’ system's reliability, uptime and ease of use.
The Company’s solutions help improve business efficiency and the
bottom line.
Real Estate Strategies Corporation is a respected corporate advisory and transaction services firm that provides thought-leadership, decision-making, planning, project management and transaction execution services. Under the leadership of its award-winning CEO, Andrew B. Zezas, "RealStrat" advises financial and senior executives at management team-led public, private, and portfolio companies, and not-for-profit organizations. Its clients engage the firm when acquiring, disposing, renegotiating, or enhancing occupied leased or owned real estate in New Jersey, Pennsylvania, New York, Connecticut, and throughout North America. By creating and executing Business DRIVEN Real Estate Solutions and identifying hidden Opportunities, RealStrat drives greater operational and financial performance in support of its clients' stakeholder objectives, M&A requirements, and exit strategies.
In the current economic environment, RealStrat’s efforts are focused on uncovering, capturing, and re-purposing hidden liquidity and minimizing risk in its clients' leased and owned real estate. The firm provides counsel as to competitive advantage strategies in preparation for the eventual economic recovery. By restructuring existing leases, disposing of surplus property, structuring sale / leaseback transactions, securing new and replacement financing, and acquiring leased or owned real estate, RealStrat reduces its clients’ occupancy costs and risk, and increases their operational flexibility and resiliency. Many of the firm's clients have realized multiple seven figure present value cash benefits through the creative planning and execution of these strategies. Visit www.RealStrat.com.
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