Insurance Institute for Highway Safety (IIHS)
Services Provided by Donohoe:
- Tenant Representation
The Insurance Institute for Highway Safety is an independent non-profit research organization dedicated to reducing losses from vehicle crashes. IIHS occupied its same office for nearly 30 years and when its lease came up in 2018, the Institute was eager to explore new leasing opportunities and take advantage of a tenant-favorable marketplace.
DRES competed against several other brokerage firms and was engaged to identify and secure a new headquarters location with a design that alleviated several past operating inefficiencies. Complicating the process was the necessity to leverage the Institute’s prominent name in the submarket and take advantage of a tenant-favorable marketplace to secure compelling economic terms.
DRES surveyed the market, brokered competing landlords, and negotiated terms that resulted in a newly designed and built-out headquarters that is 30% smaller than IIHS’ previous space. In addition to reducing the Institute’s annual rent and securing numerous landlord concessions, DRES delivered the opportunity in a building that had a modern, shared conference center, and offered tenant-only fitness