Case Study: L3 Technologies achieves 875,000 sq. ft. campus consolidation, major facility upgrades, and long-term cost savings with Cresa

L3 Technologies - Customer Case Study

L3 Technologies engaged Cresa to provide occupier-only real estate advisory — including Transaction Management, Project Management and lease audit/forensics — to address a complex Salt Lake City portfolio of nearly 1,000,000 rentable square feet in multiple aging buildings with staggered lease expirations, heavy capital-improvement needs and uncertainty after the landlord rejected renewal proposals.

Cresa evaluated build-to‑suit and in-place options, negotiated with the landlord, and ran financial analyses that led to executed leases totaling approximately 875,000 rentable square feet in August 2018, retention of the campus (renamed L3T Tech Park), and a new 379,400 rentable-square-foot build-to-suit slated for 2020. Cresa’s work delivered measurable impact: significant cost savings (reduced rental rates, cash contributions and lower escalations), elimination of tenant capital expenditures, improved space-utilization and manufacturing efficiency, long‑term growth options and major interior/exterior upgrades that created a consolidated campus feel.

L3 Technologies