Renew or Move: A Case Study

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Several years ago, I was retained by a small law firm to assist them with their lease renewal.  The senior partner did not want to move and we both anticipated a routine renewal negotiation.  At the beginning of the assignment, I encouraged him to tour a few buildings that were comparable to his existing location, but the partner declined because he was “very familiar with the area”.  We began discussions with the existing landlord and soon we both agreed that the existing landlord was not as aggressive as we had anticipated. 

 In the meantime, I was touring nearby buildings with another client and stumbled upon a beautiful space that would be perfect for my attorneys.  I persuaded the partner to visit “just this one space”.  It was ideal. We were quickly able to come to terms with the new landlord and negotiated a lease with business terms that were more in keeping with market conditions.

 The law firm loves its new location in a much nicer, more prominent building.  They were astute enough to grasp the opportunity offered by current market conditions and were able to improve their office in several ways.  Not only did they upgrade their suite and the actual building, the firm bought new furniture for the reception area and upgraded their computers.  Since that time they have expanded within the building as the practice has grown.  This move gave them a fresh, new look and the change invigorated the firm and its employees.

 If you want objective, professional assistance in analyzing your office space situation, contact me today for a free analysis.

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