Success Stories

Ballard, Spahr, Andrews & Ingersoll

Denver
31,208 SF
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Client Objectives

Ballard had a desire to re-stack the existing employee base and also wanted to up-date the image of the Firm.  Additionally, there was a strong desire to take advantage of the market conditions that would allow for an early renegotiation of their existing lease obligation with the intent of lowering immediate costs and locking in at more aggressive long term rates.

Results

Cresa was retained by Ballard to execute the negotiations and to implement the completion of the project.  By imposing market leverage on the Landlord, Cresa was able to renegotiate the remaining 14 months of the existing lease, thus lowering the bottom line costs and was able to lock in long term favorable rates that would provide cost savings in the future.  Additionally, Cresa was able to negotiate a larger Tenant Finish allowance, thus limiting the amount of out of pocket expenses to Ballard.      

Return on Investment

With a total documented project savings in excess of $670,000 (combined efforts of both the transaction management side and project management side), Ballard realized a return of 3 times the fee charged by Cresa.

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