Bond, Shoeneck & King

Bond, Schoeneck and King ("BS&K") had three years remaining on their 25-year lease. The law firm needed to re-evaluate their design and configuration requirements. In addition, their rental rate had increased above competitive market space.

Objectives:

• Establish a three-year critical date schedule
• Research and negotiate contract with space planning firm to determine design and layout needs
• Investigate all development, ownership and leasing opportunities
• Negotiate with the present landlord and alternative landlords for best financial offer

Process:

• Interviewed and selected space planning firm to determine interior and expansion needs
• Identified all availabilities meeting BS&K's financial and space requirements
• Issued Request for Proposals ("RFPs") and created a competitive bidding environment to achieve the most competitive rental rate

Results:

• A successful bidding situation was initiated between the present landlord and an alternative landlord resulting in BS&K renewing its existing lease
• An immediate reduction in the base rent was obtained
• An expansion space schedule with improvement allowances was incorporated into the new lease and temporary space offered at no cost while the current space was to be constructed

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