Coughlin & Gerhart, LLP

Coughlin & Gerhart, LLP ("C & G") retained the Bell Group to provide Tenant Representation Services for their 24,000 SF law firm in Binghamton, NY. We were successful in negotiating an opportunity in downtown Binghamton that will provide them the leasehold value and control for decades to come that they had previously been unable to find. The fiscal responsibilities for C & G for the level of leasehold space, control and amenities are significantly below market both now and for the foreseeable future.

Objectives:

• Secure a new office space where Coughlin & Gerhart's rent payments would be competitive with their current rent payments, which were already below market
• Identify and procure a viable downtown location that would offer excellent views as well as close access to parking
• Negotiate with landlord new floor finishes and configured floor plans

Process:

• Conducted market review of existing opportunities in downtown Binghamton, Vestal, Johnson City and the Town of Dickinson
• Unearthed potential build-to-suit and redevelopment opportunities
• Issued Request for Proposals ("RFP") on short-listed locations selected by C & G

Results:

• C & G will occupy the top three floors (floors 10-12) of this building, with the potential for the top five, and will have their corporate logo installed high atop the building
• A direct access bridge from the building to the adjacent parking garage will be constructed
• Up to $1.2 million will be procured to completely renovate the public spaces and exterior of this historic building as agreed to by the landlord

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