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Mackenzie Hughes Law Firm
The Mackenzie Law firm was located in the same building for over thirty years. The law firm needed approximately 22,750 sf and was looking to enhance their corporate image. In addition, their rental rate had increased above competitive market rates.
Objectives:
- Reduce occupancy costs and enhance the law firm's image
- Provide for anticipated expansion
- Investigate all development, ownership and leasing opportunities
Process:
- Selected a space-planning firm to develop tenant improvements
- Identified all financial and space requirements
- Created a competitive bidding environment
Results:
- A renewal of the existing lease with immediate reduction in the base rent and a complete renovation of the HVAC
- An expansion space schedule with a substantial tenant improvement allowances was incorporated into a new lease
- A total savings in excess of $2,300,000
