Success Stories

Lynberg & Watkins LLP

Los Angeles, CA
38,000 SF
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Client Objectives

Lynberg & Watkins occupied 1½ floors at 888 S. Figueroa St. and had a lease expiring within 20 months. The partners recognized a soft downtown market and wanted to evaluate their options to stay or relocate to a more attractive building. The firm's current space was outdated and they wanted to explore options to remodel their three conference rooms, the library, and completely redo the lobby.

Cresa Team Members

Results

After evaluating five downtown service providers, the firm hired CresaPartners to develop a real estate strategy to leverage the firm's strong local presence. Coming off the recent Sedwick Detert negotiations, CresaPartners was very familiar with all the downtown law firm options. Lynberg and CresaPartners identified three strong relocation options to build leverage with the firm's current landlord. The option offered second generation space to reduce capital costs and were in comparable buildings to 888 S. Figueroa. The firm was able to negotiate a favorable option to renew their lease for seven years with below-market rents and some free rent and received the necessary tenant improvement package to upgrade their space needs.

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