Vestian Secures New 19,500 Sq. Ft. Sublease For Raleigh-Based Online Publisher LuLu Press

Raleigh, NC – January 27, 2020 – Vestian, a global commercial real estate firm, announced it has successfully negotiated a new long-term sublease for online self-publisher Lulu Press.

Brad Armstrong

The new sublease agreement, which upgrades the Raleigh-based company from a Class-B to Class-A building, saves the company 37% per year on its real estate costs.

LuLu will be moving to the Frontier Campus in RTP at 700 Park Offices Drive, a Class A office building with state-of-the-art amenities, taking 19,500 square feet of the building’s 2nd floor for its approximately 75 employees. The annual total occupancy expense for the new space is $350,000 or $17.95 per square foot. There are no escalations for the six-year sublease.

LuLu presently occupies 21,000 square feet at 627 Davis Drive, a Class B flex building with no amenities where annual total occupancy expense is approximately $504,000 or $24 per RSF.

“LuLu’s new office space comes complete with brand new furniture and installations from the previous tenant, avoiding any capital expense for Lulu. The space is also an upgrade to a new modern office that offers safety, social distancing and workforce flexibility,” said Vestian’s Executive Managing Director Brad Armstrong, who negotiated the sublease on behalf of Lulu.

“As the commercial real estate market continues to evolve, we have found that successful companies are challenging the norm and exiting their current space,” added Armstrong. “Rethinking, reshaping and restructuring their real estate needs will lead to a more productive and economically viable business.”

“Vestian worked to reduce our footprint and costs, while helping us identify and outfit a new office that will foster a safe and healthy environment,” said Kathy Hensgen, President of Lulu. “Vestian’s collaborative approach and ability to successfully complete this transaction in a difficult environment provided us with measurable savings, while helping our team alleviate the fear of returning to the office space.”

About Vestian

Founded in 2009, Vestian is a full-service real estate firm focusing exclusively on occupiers. With offices in the U.S., Europe, India, and China, Vestian helps clients transform their real estate holdings into distinct competitive advantages.

Vestian offers cohesive portfolio strategy and management, transaction advisory, corporate finance, project services, workplace integration, data management, facilities management, and audit & recovery.

Vestian serves leading organizations in a range of market sectors catering to IT, retail, hospitality and biotech companies including Bosch, Cargill, Chrysler, 3M, Puma, Mercedes-Benz, Ryder, CSL Plasma, Texas Instruments, Union Pacific, Nike, Ericsson, Caterpillar and many others. More information can be found at www.vestian.com

About Lulu

LuLu is the premier free-to-use, online self-publishing and print on-demand company specializing in web-based publishing for books, calendars, and a variety of other print materials.

Contact: Alexandra Horton

Phone: +1-312-600-6371

Email: horton@vestian.com