Case Study: Achieving competitive consolidation & expansion terms despite long term lease

707 Grant Street, Pittsburgh PA

When Gordon & Rees needed to expand its law firm space in downtown Pittsburgh, they turned to Carrie Holstead for help and in a tight market she negotiated a six figure cost savings, phase in of space, turnkey tenant improvement package and more. They have since enlisted Carrie for multiple assignments outside of Pittsburgh. A recommendation about her work is available upon request.

Manoj Jegasothy, Managing Partner – Pittsburgh Office Gordon & Rees Scully Mansukhani, LLP

Gordon & Rees Scully Mansukhani, LLP

Challenge

Gordon Rees Scully Mansukhani, LLP (Gordon & Rees) is a law firm that was founded just over 40 years ago and has grown from a small defense firm to a national litigation and business transactions firm with more than 700 lawyers in 38 offices throughout the United States, including lawyers admitted in Canada, Mexico, and Hong Kong. When Gordon & Rees needed to consolidate and expand its office space when four years remained on their current lease, they turned to Carrie for help.

Action

Carrie completed an analysis of the current lease, amendments, and office leasing proposal from the current landlord. Then she analyzed Gordon & Rees’ future needs and construction requirements. While she prepared a market survey and provided insights on terms that could be achieved at alternative buildings she negotiated with the current landlord. Ultimately, after five rounds of negotiations, attractive business terms were achieved at the current building.

Results

  • Carrie negotiated a cost savings of nearly $400,000
  • Consolidated and expanded space
  • Turnkey expansion improvements of some $870,000
  • Paint existing space
  • Phase in of expansion space
  • Expansion option
  • Renewal option
  • Long term lease extension
  • Long term protections in multi-million dollar office lease
  • Gordon & Rees has enlisted Carrie multiple times

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For more information, contact Carrie S. Holstead at

+1 (412) 255- 3737
carrie@carrieholstead.com

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