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Clients & Projects
CASE STUDIES
Saul Ewing LLP
The Challenge
Saul Ewing LLP has over 250 attorneys providing a full range of legal services from offices in eight locations throughout the Mid-Atlantic region. The Firm maintains offices in Pennsylvania, Maryland, New Jersey, Delaware and Washington, DC. Saul Ewing was looking to relocate within the City, but their plan was complicated by a seven and a half year remaining lease obligation. Ordinarily, a multi-million dollar lease commitment would discourage any broker; undeterred, MacKenzie and Cushman & Wakefield created a plan for success, utilizing a team approach and weeks of painstaking negotiations on three fronts simultaneously. The Solution
The Baltimore law office had already determined they wanted to relocate their 50,000 square feet to a newly constructed office tower. This visibility in Downtown Baltimore would enhance the firm’s image, as well as allow for firm expansion. It was quickly determined in preliminary negotiations that the seven and a half year lease obligation was a seemingly insurmountable obstacle to relocation. MacKenzie searched for months for a potential sublease candidate and in December 2004 the perfect candidate surfaced. The user that was interested in the space was essentially a law firm from the Maryland State Department of Human Resources – a coveted tenant by many landlords because of their financial backings. MacKenzie & C&W worked closely with Saul Ewing’s current landlord and the State of Maryland to finalize the lease which turned out to have a very favorable rental term – a three year extension beyond Saul Ewing’s lease expiration. After months of complex deal negotiations between three parties, successful closings were completed due to the Cushman & Wakefield Alliance program.
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Services Provided:
• Leasing & Sales
• Corporate Consulting & Strategic Planning
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