CHALLENGE

Concordia University Wisconsin made the decision to close their 6,190 square foot satellite campus location at Morgan Square in Beloit with more than 12 months remaining on their lease. Not long after the doors were shuttered, Mandy Witt, the listing agent for the property, had an inquiry from Caravel Autism Health, a medical retail (“medtail”) user that was searching for a facility in the Beloit market with a tall order.

ACTION

Wanting to minimize vacancies in Morgan Square, Witt set out to find a subtenant for the space as quickly as possible. Once she learned about the pending need for a new autism behavioral and development service, she
presented the landlord with the opportunity to mitigate losses from Concordia’s early departure filling their space with another long-term, quality tenant. Knowing that Caravel had special buildout requirements, Witt set the pieces in motion to fill the 6,190 square foot space and the landlord released Concordia from their lease.

RESULTS

• Successfully negotiated an early termination for Concordia University
  Wisconsin and a lease with Caravel Autism Health
• The new tenant will provide autism behavioral development services
  to the greater Beloit area
• The Morgan Square location will treat more than 45 children and
  create 40 new jobs in the community

"We knew we were losing a valuable tenant in Concordia but Mandy delivered a new
tenant and was instrumental in engineering the overall deal that allowed us to let
Concordia out of their existing lease and gain a new long term lease with a health related
business.”
                                                                      -  Terry McGuire, Badger Property Investments