"Jon and Abbie did an exceptional job for us navigating the challenges of working with a private / public institution while maintaining the requirements of both parties."
— Mark Meltz, Chief Operating Officer & General Counsel, Kinnate Biopharma, Inc.
Faller Real Estate negotiated a five-year lease transaction on behalf of Kinnate Bio with the Presidio Trust. The “Trust” is a Federal Agency formed to steward and share the history, beauty, and wonder of the Presidio in service of the public.
As such, Tenant’s need to be the right fit to carry out this mission while investing significant capital to upgrade the Presidio’s many historic buildings.
Negotiating a lease that is equitable for the Tenant, the Trust, and the Public can be difficult and time consuming. Understanding and being respectful of this process has been a contributor to our success.
Negotiation.
Part of building a great space, is building a great team. At Faller Real Estate, we have over twenty years of experience working with industry leaders in architecture, design, construction, furniture, etc. Our experience and history has allowed us to build a curated list of the very best vendors for any project. Our bespoke model allows us to hand select the appropriate size vendor for the job.
We ensure you are paying for only those services you truly need and nothing that you don’t.
Design.
When it comes to construction, the devil is in the details. However, if you have not been part of commercial build-out in the past, it becomes very difficult to understand process, pricing, and the many facets of code requirements.
We help to guide your team through the many risks of construction and its relative financial liability in each project.
For Kinnate, city and federal code compliance was critical not only to the budget, but because the Presidio and the building are historic in nature.
Construction.
The finished product should be something your business can be proud of, a place where your employees will want to spend time. This couldn’t be more relevant than after the pandemic and increase in hybrid work-from-home policies.
As your advisor, we work with your human resources and executive decision makers to develop the best plan for productivity. Our experience is that’s often different for everybody.
One thing is clear, to build culture, collaboration and enthusiasm, employees need a place they can call home. We strive to complete offices that both the business and those who support the business are proud to visit.
Home.
By definition, the transactional nature of what we do often gives our industry a bad name. At Faller Real Estate, we are proud to announce our 87% retention rate. This is because we know that signing a lease is only the beginning.
When negotiating lease terms or advocating for non-disturbance agreements, we know that your journey could be a three, five, even ten year relationship with your landlord and during that time, your needs will change.
We check-in annually and support our clients needs as their businesses change. Whether expansion or contraction, our goal is to modify agreements and deal terms to support your business as needed.
Relationship.
In the case of Kinnate Biopharma, the business leaders saw an opportunity to sell the business. As part of that sale, Faller Real Estate proceeded to find a subtenant to step into their shoes and assign the lease.
The most notable part of this transaction, is that any replacement tenant would need to be approved by the Presidio Trust which means equally as financially strong and of the type of tenant to further the mission of the Trust.
Faller Real Estate was successful on all accounts, thereby relieving Kinnate of outstanding debts on the balance sheet, and ultimately a higher valuation.
