Wiley was a fast-growing 36,000 SF publisher of computer books, including the “Dummies” line. Wiley was in the process of doing an IPO, a partial spin off from its parent International Data Corp. Wiley had substantial needs for significant firm expansion capabilities, large floor plates, ample parking, a high image and identity, cost effectiveness and lease flexibility.
“Sam is a consummate professional who works hard for his clients. We continue to use Sam for various real estate projects because he adds value to our decisions and consistently helps us achieve more favorable results vs. doing it ourselves.”
- Lou Peragallo, Vice President, Wiley
Tenant Advisor, Sam Smith, evaluated over 20 initial sites for a potential buildto- suit.
Sam successfully negotiated an 87,333 SF lease and 36,159 SF expansion at terms $2.00-$3.00/SF below market. The deal also included a six year tax abatement; options to expand at below market rates throughout the 10-year term into the entire building; options to renew at below market terms; large floor plates (36,000 SF); 6/1,000 SF parking; and building signage visible to I-69. Additionally, the turnkey buildout package incorporated substantial upgrades including a computer room, voice and data wiring, and conference and A/V upgrades. Sam has since assisted Wiley & Sons, Inc. on several subleases and an early renewal/ expansion with favorable terms.
Note: We have several professionals with substantial client transactional experience prior to joining RESOURCE Commercial, which is included above.