When Logicalis, a global technology service provider, approached us in March 2019 for assistance with finding a new office space in Singapore, they had already tried working with other real estate agents but had been unsuccessful in finding the right fit.
As a company with a reputation for delivering high-quality solutions to our clients, we were determined to help Logicalis find the perfect space for their new office.
In this case study, we will explore the challenges we faced, the strategies we employed, and the successful outcome of our efforts to help Logicalis find the ideal office space in Singapore.
The Challenges of Securing a New Office for Logicalis in Singapore
There were several challenges we faced as the tenant’s representative in helping Logicalis find a new office space in Singapore. One of the main challenges was the time frame given to us by the client. Logicalis only needed the new office in around 15 months, which made it difficult to find landlords willing to consider such a long waiting time. Most landlords prefer tenants who can start the lease as soon as possible to avoid rental income loss while waiting for the lease to commence.
Another challenge we faced was the floor size requirement of 15,000 square feet. Not many buildings have a floor area of that size available for office space, which made it difficult to find options that met the client’s needs. Additionally, we had to work within a certain budget set by the client, which further limited our options and required us to be creative in finding solutions that fit within their financial constraints
Navigating Challenges: Our Successful Search for Logicalis’ New Singapore Office
After receiving the requirements from Logicalis, our team immediately started searching for office spaces that matched their needs in terms of floor area and budget. Unfortunately, the options were limited and none of the premises that we inspected were shortlisted by the client. However, a smaller space was available in one of the buildings that the client was interested in.
We discussed with the client the possibility of renting two smaller premises, one for the main office with a good corporate image for the key engineers and another nearby for the backend technical team to support the function of the main office.
Since there would not be any visitors to the backend office, we proposed that they rent the space in a building with half the cost of the main office, which would result in a significant saving in real estate costs. The client accepted our proposal and we proceeded with the negotiation.
Negotiating the lease was challenging due to the long waiting time of more than a year before the lease could start. However, our team was able to convince the landlord to accept the long waiting time by providing information about the tenant and the credibility of having Logicalis as a tenant in their building. In the end, we were able to successfully secure the office space for Logicalis and help them meet their needs for a new office in Singapore.
In conclusion, finding the perfect office space for Logicalis in Singapore was a challenging task, but our team was able to overcome the obstacles and deliver a successful outcome for the client. We were able to identify and propose creative solutions that met the client’s needs and budget, and we were able to negotiate a favourable lease agreement despite the long waiting time. This case study demonstrates our ability to find solutions for our clients and our dedication to delivering exceptional service.
If you are seeking an office space in Singapore and are looking for a reliable and experienced real estate partner, we encourage you to contact Owee Commercial Real Estate. Our team is ready to assist you in finding the perfect space for your business and helping you navigate the process of leasing an office. Contact us today to learn more about how we can help you find the perfect office space in Singapore.
About Logicalis
Logicalis is an international company that provides digital services to help businesses transform their operations and processes. They have a global network of experts and strategic partnerships with major technology companies, and employ over 6,500 people. Their focus is on understanding the priorities and needs of their customers and helping them achieve their goals by combining their expertise in technology and industry insights. Logicalis specializes in key IT industry drivers such as security, cloud, data management, and IoT. They operate in multiple regions and are a division of a larger company listed on the Johannesburg Stock Exchange.
