The Scoular Company Lease Restructure

Project Overview

NTH led Scoular through a strategic planning process to define changing workplace needs, evaluate market alternatives, and understand the financial and operational impact of each option. NTH’s project management team added early insight by coordinating fit planning with the architect and preliminary budgeting with the contractor. The process helped Scoular make an informed decision to restructure its existing lease, reduce its footprint, and make targeted improvements to better support how the company uses its space.

The Challenge

Scoular needed to improve the functionality of its workplace while reducing occupancy costs. The team had to determine whether those goals could be met within the existing building or whether a relocation would create a better long-term outcome. The assignment required careful coordination among lease economics, space planning, construction costs, and timing so Scoular could compare options clearly and make a confident decision.

How We Made It Happen

NTH worked with Scoular to define priorities, evaluate alternatives, and understand the financial and operational trade-offs of each path. The team coordinated fit planning with Gensler and preliminary budgeting with Gardner Builders to test whether Scoular’s goals could be achieved within the existing space. NTH then led negotiations with the landlord, using clear priorities and market-based analysis to structure a lease amendment that supported Scoular’s business objectives. This process allowed Scoular to reduce its footprint, improve the space, and avoid the disruption of a relocation.

The Outcome

Scoular restructured its lease, reduced its footprint, and lowered operating costs while remaining in its existing building. The company was also able to implement targeted space modifications identified through the planning process, improving functionality while avoiding the cost and disruption of a relocation.

Location

Minneapolis, Minnesota

Project Scope

23,000 sf

Project Type

Tenant Improvement

NTH Services

Lease Negotiation

WHAT OUR CLIENTS SAY

NTH played an integral role in guiding us through a complex decision-making process. Their focus on making sure they take care of their clients regardless of outcome goes above and beyond any experience I have received from a real estate company.  It is this type of relationship I value and one I will remember when the next opportunity arises.

Dan StepanekGlobal Real Estate Manager

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