Strategic Sublease Success: How We Navigated Complexity to Close a Win-Win Deal in Sparks, NV
In late October. 2024, our client reached out to Jeffrey Bender, SIOR, CCIM with a challenge: sublease their industrial space in Sparks, Nevada. This wasn’t a simple assignment. The space—originally inherited through an acquisition—was no longer needed due to the winding down of one of their business units. They also needed at least 60 days to fully vacate, as client materials were still being stored and shipped from the site.
Subleases, especially under these conditions, are never straightforward. Add in the need for a quick turnaround, holiday season timing, out-of-state coordination, and a lease with just over two years remaining, and you’ve got a situation where the odds aren’t in your favor—unless you have the right team.
Why This Was a Strategic Play
Jeffrey brought in our team to lead the local effort—an essential move given Nevada’s real estate regulations, which require a licensed in-state broker to act as the primary point of contact in co-brokered deals. This collaboration allowed Jeffrey to stay involved while relying on us to be the “boots on the ground”, spearheading negotiations and compliance.
We immediately activated our process:
Reviewed the lease to understand space allocations, base rent, and NNN costs.
Determined a market-competitive asking rate and strategic commission structure.
Captured professional marketing materials, verifying critical details like dock/drive-in doors, yard space, and rail access.
Launched a targeted marketing campaign across CoStar, LoopNet, Crexi, and directly to our internal network.
Timing was critical. With Thanksgiving weeks away and winter weather arriving, getting high-quality property photos and scheduling tours would soon become difficult. Our speed-to-market approach ensured we stayed ahead of those seasonal hurdles.
Why Subleases Require a Specialist Approach
Subleases present unique challenges:
As-is condition: Unlike direct leases, subtenants typically don’t receive improvement allowances or renovations.
Multiple approval layers: The subtenant negotiates with the current tenant (our client), and then the landlord must approve the deal—without much incentive to move quickly.
Time sensitivity: A delay in landlord consent can be a deal-killer, especially for companies with urgent space needs.
It takes experience and strategic problem-solving to navigate these challenges without losing momentum.
Strategic Marketing + Deep Local Knowledge = Results
We leveraged our relationships and deep local market knowledge to begin matchmaking. From past canvassing and staying close to evolving client needs, we knew that several companies in our network were actively seeking industrial space with rail access—a rare and valuable feature at this location. While our client hadn’t used the rail line themselves, we went the extra mile to research its functionality. We contacted the city, confirmed the infrastructure’s viability, and ensured we could confidently present this asset to qualified prospects.
Then came a pivotal opportunity.
Less than two weeks later, Dave Simonsen of Newmark brought a potential subtenant to the table. The company, a solar panel logistics provider, had an urgent need and a tight timeline. The pace needed to accelerate rapidly. Dozens of emails, calls, and text messages flew between our team, our client, the landlord, and the subtenant.
Because we had already done the legwork and were ready to execute, we maintained a decisive edge over other available spaces.
Execution Excellence: The Deal Comes Together
Once the Letter of Intent (LOI) was signed, we still had to clear the final hurdle: landlord consent. Even though it took longer than expected, we found a creative solution that allowed the subtenant to move in on schedule while our client was still transitioning out. This required a highly coordinated effort—a “beautiful dance of logistics”—between both parties to make the overlapping move-ins and move-outs seamless.
The subtenant moved in quickly and staged their solar panels while awaiting deployment. The space was operational when needed, and our client exited with minimal disruption.
Why Clients Choose Us
This deal wasn’t just a sublease—it was a strategic solution crafted under pressure. It required:
Market expertise
Local authority
Speed and responsiveness
Creative problem-solving
Strong industry relationships
With over two years left on the lease, many might’ve written this off as “too hard to sublease.” But our team—alongside Jeffrey Bender and Dave Simonsen—defied the odds. We created a win-win-win for the sublessor, subtenant, and landlord.
Need help finding, listing, or subleasing industrial space?
Whether you’re local or out-of-state, our team brings the experience, speed, and creativity to help you succeed in Northern Nevada’s industrial market. Let’s talk if you need to find space—or lease out space you no longer need.