Renegotiate lease for Hirschler Fleischer's 50,000 SF law firm and expand within present building or relocate, preferably in downtown Richmond, to a location which could accommodate future growth.
- Develop strategy well in advance of lease expiration to allow sufficient time for process.
- Consider all opportunities in the downtown area becoming available in the targeted time frame.
- Engage space planner to evaluate the client's needs.
- Consider client was price sensitive.
- Took client to the market and created leverage among building owners to facilitate a very competitive situation that worked to the client's advantage.
- A below market deal was negotiated for 67,000 square feet, affording the client a lease rate below that for its last year of occupancy in existing building, in brand new space, built out turn key.
- Client enjoys a new downtown location providing a fresh, updated image for the firm. Space is physically unique among law firms in Richmond and is functional and affordable.