Fischer & Company - Corporate Real Estate Solutions

Nortel Networks Subleased 136,000 SF Office Space in Simi Valley California to CNM Network, Inc.

On July 13, 2001, Fischer & Company was successful in subleasing a 136,000 square foot office building located in Simi Valley California to CNM Network, Inc. This two-story office building, which included R&D labs, fit perfectly for CNM Networks' use. CNM Networks plans to occupy the entire building, while utilizing the existing lab infrastructure. The entire transaction yielded Nortel Networks a total of $13.5 Million in savings over an eight-year period.

The sublease was completed in a market that is not known for its high-end office product. Additionally, in spite of the deteriorating office market conditions, Fischer & Company kept all parties focused upon an agreement. The transaction concluded at the same rental rate as paid by Nortel Networks, even thought market conditions clearly indicated rents to be lower.

Fischer & Company also negotiated a structure with the city of Simi Valley that allowed Nortel Networks to avoid repayment of incentives that were conditional upon the continued employment of a work force within the city. Obtaining the city's approval to allow the employment of CNM Network to account for Nortel's committed employment, saved Nortel Networks from paying the city $230,000.

About Fischer & Company
Founded in 1985, Fischer & Company is a leading corporate real estate firm with expertise in consulting, brokerage and technology solutions. We act as strategic advisors to our clients, offering unique transaction methodologies as well as a proprietary technological platform. The integration of these services enables our clients to aggressively reduce real estate costs and maximize operational efficiencies. Services include portfolio management, strategic planning, acquisitions, dispositions, transaction and construction management, capital markets and sale-leasebacks. At Fischer, we focus on tenant representation, only advising and working with corporate real estate users. We never advise landlords and avoid any conflict of interest.

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