Fort Lauderdale Office Expansion and Relocation

Client
  • Rissman Barrett Hurt Donahue McLain & Mangan
Space
  • 15,000 sq. ft.
Industry
  • Law Firms
Locations
  • Fort Lauderdale
  • Miami
Services Provided
  • Transaction Management
Cresa Team
  • Zachary J. Talbot

Client Objectives

Rissman, Barrett, Hurt, Donahue, McLain & Mangan opened an office in Fort Lauderdale Summer 2015.  They quickly grew from one attorney to nine in 3 years.  Rissman needed expansion space with future room to accommodate their rapid growth. The Challenge was that there was no additional space for contiguous expansion in their existing building and Downtown rates had increased by 25%-40% over the past 3 years.

Results

  • Cresa identified a Class A building that was $5.00 PSF below they were paying in their existing location.  
  • Cresa negotiated that Occupier would only pay on 10,000 SF for first 15 months of the lease allowing them grow into their space without paying for all of it right away.
  • Additional Free rent resulting in over 100,000 of up front savings.
  • Cresa negotiated $691,553 in Tenant Improvement Allowance.
  • Expansion rights on the balance of the floor.
  • 10 Reserved parking spaces on the first floor of the garage.
  • 1,800 Free HVAC hours.
  • Total Rent Savings and Landlord Concessions achieved: $1,750,942.02

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