Practice Management Information Corporation (PMIC) is the nation’s leading independent publisher of medical coding and compliance standards. PMIC sought to lower its overhead costs, and retained SCGroup to examine its real estate options. The real estate portfolio included a satellite sales office located in one of the most expensive class A properties in the market. PMIC leased 6,000 square feet, but the office could function well in 4,000 square feet. Further, the office did not require the amenities it paid for as a tenant in a class A property. A financial analysis determined that PMIC would enjoy a significant reduction in overhead costs by subleasing its class A space and leasing a smaller, more efficient class B office. SCGroup procured a subtenant to lease the PMIC space for the remaining 2 years and 4 months in the contract. SCGroup then negotiated a 60 month lease for PMIC at a new class B property. As a result of the reduction in office size, the lower rent rate, and the subtenant income, PMIC saved over $100,000.
