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TripActions

Global

By taking a data-driven approach to its location, real estate, and workplace decisions, TripActions has successfully managed 600% hiring growth, expanded in 9 markets, saved millions of dollars in costly markets, and attracted top talent in every region.

The Challenge

Palo Alto-based TripActions, one of the fastest-growing tech companies in the country, credits its success with retaining and attracting an incredibly talented team.

With a plan for immense headcount growth and expansion into several domestic and international markets over the coming 12–24 months, TripActions’s Head of Finance wanted to find a real estate partner that could help formulate and execute on an aggressive growth strategy.

Our Approach

Hired in May 2018, T3 built a foundation of trust with the TripActions team and helped inform every real-estate decision with data and peer benchmarking. This included delivering quarterly business reviews with the real estate team to help them operate with more efficiency and clarity.

In addition to aggressive negotiating on leases and subleases, T3 executed transactions in each market that maximized flexibility to accommodate TripActions’ rapid growth.

The Result

  • Palo Alto headquarters deal that was ~50% below the current market rate, resulting in ~$4 million in savings over the course of the sublease term
  • Short-term sublease with a path for future potential extension or expansion
  • Successful office launches or expansions in Seattle, Chicago, NYC, Dallas, Sydney, San Francisco, London, and Amsterdam
  • Signed only one lease or sublease that was longer than 24 months
  • Sourced and placed a new Global Head of Real Estate
  • A TripActions real estate team that operates with more efficiency and alignment around their growth needs than ever before
Test

Cities where we’ve helped TripActions grow

Palo Alto
San Francisco
Dallas
New York
Chicago
Seattle
Amsterdam
London
Sydney