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Case Study

Baker, Donelson, Bearman, Caldwell & Berkowitz, PC

Situation/Process

  • Three years prior to Baker’s lease expiration at their DC office, 555 11th Street, the firm realized its long-term goals were not achievable at the current location.
  • Baker engaged Jones Lang LaSalle to provide strategic analysis, transaction management, and construction services for their long-term occupancy needs.
  • Our team identified relocation options which aligned with the firm’s long-term occupancy requirements. Once opportunities were identified, we aggressively negotiated the proposals.
  • The firm’s space committee was presented a short list of options and once a finalist was selected, we worked alongside Baker’s attorneys on the documentation to finalize the transaction.

Results

  • Jones Lang LaSalle completed a lease for 38,600 r.s.f. resulting in a relocation of the firm’s office to the newly constructed 901 K Street, NW.
  • The economic results of the transaction were unprecedented. The firm received a below market rental rate, over $100 per s.f. in tenant improvements and 14 months rental abatement.
  • As the lead transaction for the building, our brokerage team was able to secure exclusive exterior signage rights, preferred parking and ample expansion opportunities.
  • Once the lease was completed, Baker turned to Jones Lang LaSalle to act as the general contractor for the firm’s interior construction. We completed the interior build-out on time and under budget.

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