Calyx Containers is a medical packaging company founded in 2016. As a startup, Calyx operated out of a downtown Boston coworking space with 5 employees. When their company suddenly grew in 2018, Calyx requested R.W. Holmes’ assistance in finding office space to 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
Results
After reviewing several market options, R.W. Holmes helped Calyx reassess its real estate needs to better align with its 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 was fully built out and furnished for a three-year deal, with options to expand into neighboring space and extend the lease term. The company now has 25 employees and is still growing, housing both its back-office departments and its R&D team in its new East Coast headquarters.