Auria Solutions leases a 180,000 SF manufacturing facility with an original lease dating back to 1981. The existing lease did not contain any renewal or possession rights beyond the expiration date of the most recent extension term.

Advocate was engaged less than 12 months prior to lease expiration to negotiate a long-term lease renewal/restructure with limited leverage and no ability to relocate due to cost and availability of alternative buildings.

Auria Solutions secured a long-term capital lease and procured landlord provided allowances to remediate multiple deferred maintenance issues that were tenant responsibility under the current lease terms. Auria Solutions was also provided rights to the space beyond the new lease expiration date.