Case Study :: DRS ICAS, LLC – Buffalo

Property: DRS ICAS, LLC (DRS Technical Services, Inc.) 485 Cayuga Road Buffalo, New York Assignment: – DRS EWNS (formerly Sierra/STI) occupied and leased 324,000 sq. ft. since 1977. Current lease was to expire March 31, 2007. DRS was conducting strategic business planning and required to extend short term while completing business strategy. Likely certain business operations would be relocated out of Buffalo into other DRS facilities

Challenges:
– Develop a real estate strategy that provided flexibility while long term business strategy evolvedbr />

Conclusion:
– First phase (2007) negotiated a two (2) year lease extension with options to renew for 98,000 sq. ft.
– Certain business operations did relocate from Buffalo to other DRS existing facilities
– Second phase (2009) negotiated a five (5) year lease extension with options to renew for 124,000 sq. ft.