Case Study: John Hancock Finds the Perfect Space

Client: John Hancock

Services Provided: Tenant Representation

Case Study:

Client: John Hancock, a leading financial services company
Location: Miami, FL
Size: 8,420 SF
Submarket: Brickell

About the Client

John Hancock is a financial services company based in the United States. It was founded in 1862 and is one of the oldest and most well-established insurance and investment companies in the country. John Hancock offers a wide range of financial products and services, including life insurance, retirement planning, annuities, mutual funds, and various investment options.

Client's Objectives

John Hancock (JH) needed more space to hire more producers and to grow its Miami agency;
JH was not satisfied with the layout and the finishes of its current space and had no budget to pay for an upgrade;
There were 3 years left on JH's lease and an estimated penalty of $205,000.00 if the lease was terminated early;
JH’s corporate policy required all leases to have the option to terminate after the 3rd year.

Results Achieved

JH expanded their current space by 38%;
JH’s overall real estate costs were reduced by 23%;
The new space was reconfigured according to JH’s needs and projected growth for the remaining years under the new lease term. The reception area with elevator exposure was upgraded with stones throughout the lobby area. The improvements to JH’s space were paid by the landlord and at no cost to the tenant;
Building signage was negotiated into the deal, at no cost to the tenant;
The existing lease was terminated, and penalty waived;
An ongoing termination right was negotiated for after the 3rd lease year;
No security deposit was required.

John Hancock was able to find the perfect space that met their needs and enabled them to grow their business in Miami. The team was able to negotiate a deal that not only met the client’s objectives but also exceeded them. The new space was not only larger, but also more efficient and better suited to the client’s needs. The upgrade to the reception area and the addition of building signage helped to enhance the image of the company and make a better impression on clients and visitors.

This case study is a testament to the Carvalho Commercial Real Estate’s ability to deliver results for their clients. They were able to provide a comprehensive and customized service that helped John Hancock achieve their goals and thrive in their new space.

Want to Succeed Like John Hancock?

Ready to find your perfect space and grow your business like John Hancock did? Contact Carvalho Commercial Real Estate today to learn more about how our team can help you find the best commercial properties in South Florida, negotiate favorable terms, and reduce your overall real estate costs. Reach out to us by clicking the link on the right and schedule a consultation today!

Client: John Hancock

Case Study:

About the Client

Client's Objectives

Results Achieved

Want to Succeed Like John Hancock?

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