Case Study

Hirschler Fleischer

Hirschler Fleischer
The Need

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.

The Approach
  • 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.
The Results
  • 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.