Syniverse FRI
Our Understanding
Based on what was shared with our team in both the pre-interview and in the corresponding RFI, we understand the following about Syniverse’s objectives:
Requirements For Your Partner • Develop comprehensive strategy for the lease
renegotiation, excess space disposition (sublease or buyout), and/or relocation of Syniverse’s existing 198,750 SF at Highwoods Preserve • Provide acquisition strategy and implementation for new or renegotiated lease for 50,000 – 70,000 SF Keys To Success • Understanding of Syniverse’s overall business drivers • Delivering a fresh perspective • Market expertise and leverage
Current Situation BUILDING NAME Highwoods Preserve I
LANDLORD TPG Real Estate
ADDRESS 8125 Highwoods PalmWay
TENANT Syniverse Technologies, LLC
BUILDING SIZE 198,750 SF
LAST SOLD December 2018; $37.5M
LOCAL MARKET Tampa, Florida and Vicinity
REFINANCED June 2021
• Insights into a connection with potential subtenants • Global reach, network and visibility for Syniverse’s Headquarters disposition assignment
Existing Lease SQUARE FEET 198,750 Rentable SF LEASE EXPIRATION January 31, 2027
New Lease Targeted SQUARE FEET Syniverse is anticipating a footprint of approximately 50,000 – 70,000 SF. This is estimated and subject to change in conjunction with space planning at later date. TRANSACTION TYPE Lease renegotiation or buyout; excess space disposition (sublease or buyout), and/or relocation. TARGET LOCATION Within the Tampa office market with access to amenities.
Situation Overview
REMAINING LEASE OBLIGATION EST. +$30M(Assuming$10/SFOPEX)
Headquarters currently on market for sublease (full or partial)
Lease Buyout Preferred
Communication ongoing with Landlord Desire to downsize (in place or relocation) to 50,000 - 70,000 RSF
6 | Syniverse
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