Case Study: Innovu
Learn how Donahue Real Estate Advisors delivered a space that supports Innovu’s growth and hybrid work model, despite tight deadlines.
Project Objectives
- Relocate to a smaller office space to align with the transition to a hybrid working model.
- Reduce real estate costs while maintaining functionality for in-office meetings and fostering company culture.
- Secure a location offering amenities such as natural light, high-end video capabilities, and proximity to dining options.
- Ensure the new space was move-in ready by January 1.
Project Challenges
- Space Adaptation: Innovu required a space tailored for hybrid work while downsizing from their previous 20,000 SF office.
- Unforeseen Delays: The original landlord was unable to meet obligations, requiring a rapid search for a new location.
- Tight Deadline: The alternative space had to be ready for occupancy by January 1, necessitating construction during the holiday season.
Client Profile
- Size: 5,000–7,000 SF
- Location: Southside Area, Pittsburgh
- Industry: Consulting
- Project Type: Office Relocation
- Company Bio: Innovu empowers advisors and employers to eliminate waste in healthcare costs, delivering material savings while improving the health and financial security of employees and their families.
The Curveball
The initially selected building had to be ruled out, and the lease was terminated as the landlord misspoke about the validity of an existing construction permit. Therefore, immediate action was required to secure office space and finalize construction within 45 days. Innovu’s relocation timeline coincided with the holiday season, presenting an additional challenge in coordinating landlord and contractor schedules.
Strategic Solutions by Donahue Real Estate Advisors
- Rapid Market Analysis: Identified an alternative space that met Innovu’s specifications, including natural light, video capabilities, and location amenities.
- Lease Renegotiation: Secured favorable terms for a turnkey construction agreement under the compressed timeline.
- Crisis Management: Shifted focus to the new property, expediting decision-making and approvals to meet the critical deadline.
- Collaboration: Coordinated with the landlord and contractor to ensure timely completion despite holiday constraints.
Results: Success Through Swift Action
- Prime Property: Secured a better-equipped space than the initial option, with desirable features and amenities.
- Financial Efficiency: Negotiated lease terms that reduced real estate costs while supporting hybrid operations.
- Turnkey Completion: Delivered a fully functional office space by the January 1 deadline, overcoming seasonal challenges.
- Workforce Support: Maintained Innovu’s ability to host meetings and nurture its organizational culture.
Conclusion: A Blueprint for Adaptability
Innovu’s successful relocation showcases Donahue Real Estate Advisors’ ability to provide strategic solutions under tight deadlines. By leveraging market expertise, negotiation skills, and crisis management, they delivered a space that supports Innovu’s growth and hybrid work model. This case demonstrates how challenges can be transformed into opportunities with the right partner.
“Jack’s extensive knowledge of the Pittsburgh real estate market and the key players in it, his experience with the sourcing and leasing process, and the creativity and energy he brought to our search were undoubtedly the key factors in Innovu achieving an outcome that exceeded our expectations.”
David B. Bordo, Innovu