TriMas was approached directly by ownership for an early renewal prior to its early termination right. Advocate has assisted TriMas with other transactions over the years and TriMas sought our opinion on the proposal.

After some initial due diligence, Advocate discovered that every lease in the building matured at or prior to debt maturity, validating ownership's desire to stabilize the asset in a tested ofiice market post COVID pandemic.

TriMas secured additional rental reduction and tenant improvements with Advocate's assistance. Additionally, TriMas was able to maintain the early termination right by pushing the trigger dates out, providing for continued lease flexibility through the extended lease term.