Dell, Moser, Lane & Loughney, an established, prominent civil litigation firm, retained the services of Grant Street Associates, Inc., to once again represent their firm at the expiration of their lease. After being located at 525 William Penn Place for seven years, Dell, Moser, Lane & Loughney (DMLL) was faced with either a significant rent increase or a relocation of their offices to another building in the Central Business District.
Grant Street Associates was retained to assess the law firm’s space needs and conduct a comprehensive review of available options in downtown Pittsburgh to determine if renewing in their present location or relocating to another building better matched the long term goals of DMLL.
In tandem with renewal lease discussions with their current landlord, GSA was proactive in identifying several locations that could accommodate their 14,000 SF space requirement.
Request for proposals were developed and submitted to selected properties and test-fits were requested. Upon receipt of lease proposals, financial analyses were prepared and test-fit plans reviewed for efficiency and overall flow. Counter proposals were submitted to the short-listed buildings along with comments on the initial test-fits.
After several rounds of counter proposals with their current landlord and the short-listed properties to include plan revisions and a thorough review of the financial analyses, GSA recommended that DMLL focus on finalizing terms at Two Chatham Center. The law firm agreed with this recommendation because of the efficiency of the floor plan, attractive economics, proximity to the City County Building and Courthouse, the abundance of parking and public transportation options for their employees and views from the upper floor location.
DMLL reported that because of the attention to detail, thorough knowledge of the market and the business terms made available through the negotiations, responsiveness and aggressiveness of their broker, Rob Geiger, their relocation was smooth for the partners, staff and clients, and the law firm’s long term occupancy goals were satisfactorily reached.