Notion

San Francisco, CA 11,000 sqft https://www.notion.com/

Services Provided: Asset Management Tenant Services Site Selection Services

NOTION is an all-in-one workspace platform that facilitates workgroups and helps teams manage their project-based workflows.

Overview

NOTION is an all-in-one workspace platform that facilitates workgroups and helps teams manage their project-based workflows. In a nutshell, they take the cloud-based tools and apps we use today and consolidate it all into a single pane, simplifying and optimizing the things we do every day.

Located in the SoMa District of San Francisco, the company was starting to experience rapid scale. Faced with the need for new real estate, they hired IPG to solve their space dilemmas and minimize the risk involved.

IPG Services Leveraged

Tenant representation overseeing multi-phase aggressive growth
Sublease services for space that was too small for Notion’s purposes
Overall long-term growth projections, a five-year analysis
Options analysis with NPV economic analysis

The company was experiencing explosive growth, meaning that their future was unpredictable. It would have been easy to secure a real estate overage, which would have put the company at risk.
Capital conservation was a primary concern, so any unused space needed to be leveraged as a revenue stream to ensure viability.

The Challenges

The company was experiencing explosive growth

The future of the company was unpredictable

Capital conservation was a big concern

Our approach

Through two Class-A office moves, the IPG team surveyed an extensive list of office options for NOTION, comparing them with various submarkets of San Francisco.

IPG analyzed the logistics involved, potential cost, corporate presence, and various other details on each option, filtering viable but very different decision-drivers.

Once shortlisted, we laid it all out against NOTION’s most important criteria and commenced negotiation on their front-runners as well as backups. Throughout the entire process, as with every IPG client, we provided the executive team with all their options, pros and cons, so that they could make the most informed decision possible on the real estate under consideration.

Once a property was selected, IPGs in-house interior design team helped to densify the office layout, leading space-planning efforts and furniture programs. This process was quite helpful to the client as it allowed show how many employees NOTION could accommodate with various floorplan strategies.

The Success

Negotiating shorter deal terms for NOTION

Providing the company with greater future flexibility and a better path to growth

Significant rent savings relative to market rates

The company was experiencing explosive growth, meaning that their future was unpredictable. It would have been easy to secure a real estate overage, which would have put the company at risk. Capital conservation was a primary concern, so any unused space needed to be leveraged as a revenue stream to ensure viability.