R.W. Holmes Completes Tenant Assignment for Calyx Containers
Calyx Containers is a medical packaging company founded in 2016. As a startup, Calyx was working in coworking space in downtown Boston with 5 employees. When their company grew suddenly in 2018, Calyx requested R.W. Holmes’ assistance in finding them their own office space where they could expand, build their culture and attract top talent.
The R.W. Holmes Process
As a startup, Calyx had not been through a formal office lease process previously. The R.W. Holmes team worked with Calyx to understand the process start to finish, become knowledgeable on the current market, and understand how their growth strategy would impact their square footage needs in a long term lease.
The R.W. Holmes team advised Calyx on:
- Lease Process Overview – laying the foundational knowledge on the timeline, steps, and industry lingo
- Space Needs Analysis – the process of determining the style and physical traits necessary for the building and surrounding area based on the company’s culture, employee base, and operational needs
- Growth Analysis – determining how much square footage was needed based on growth estimates and company strategy
- Market Knowledge – understanding the inventory and financial differences of each geographic location, organization of property tours, and meet and greets with building owners
- Site Selection – financial comparison of top locations, review of proposals and incentives, lease negotiation and review
- Transition Process – recommendation of vendors, connection with ownership, and continued oversight of all real estate related questions
After reviewing several options in the market, R.W. Holmes helped Calyx reassess their real estate needs to better align with their company strategy. Realizing that their manufacturing business would not move to the East Coast headquarters for another 5-7 years, the team refocused their efforts on finding short term office and R&D space. With the priority being finding high image space at a reasonable rate and making their move as smooth as possible, R.W. Holmes reevaluated the market to find an office that was a perfect fit. Calyx moved into 7,500 SF of office space in Allston that came fully built out and furnished for a three year deal with options to expand into neighboring space and options to extend their lease term. The company now has 25 employees and is still growing, housing both their back-office departments and R&D team in their new East Coast headquarters.