Requirement: Brainium Studios is an independent software company that has been crafting mobile games since 2008. The initial search to relocate them from their current office on NW Marshall Street into 5,000 – 10,000 square feet of office space rapidly pivoted to space double that size to allow for planned future growth.
Challenges: Defining future growth for a business can prove to be difficult, let alone during the COVID pandemic, but with the right strategy and lease provisions in place, obtaining more square footage for long-term flexibility while still maintaining operations at their current scale was feasible.
Creative Solutions: Branium’s growth is at such a pace that 10,000 square feet of space would be perfect for them now, but useless to them in 18 months as they would have outgrown the space. To help offset this, we negotiated a staggered lease structure where Brainium pays for 50% of the space the first year, and 75% of the space in the second year. This allows them to manageably grow into their full 22,000 square feet of space.
The May 1, 2021 commencement could still be within Multnomah County quarantine restrictions, such as limitations of working in an office. In order to address the possibility Brainium would be paying for space they can't occupy, we negotiated the ability to defer commencement up to 10 months, or upon Multnomah County entering Phase 2 of the reopening plan.
Outcome: Ultimately, Brainium has the ability to grow into a full floor of brand new office space in the heart of the Pearl District. This location will serve as a recruiting tool for the company by offering amazing building amenities including a rooftop deck and building signage in a very desirable and trendy neighborhood. This lease will allow Brainium to gauge their growth trajectory and make a more informed purchase down the road.
This deal was covered in the Portland Business Journal. Click here to check out the article.