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Case Study

Vinson & Elkins LLP

Services
Strategic Planning, Project Management, Base Building System Assessments, Programming, Scheduling, Budget Management, Transaction Management

Situation/Process

  • In 2008, Vinson & Elkins retained Jones Lang LaSalle to devise an occupancy strategy for the firm’s 90,000 square foot Washington, DC office.
  • Vinson & Elkins occupied space at the Willard Office Building, 1455 Pennsylvania Avenue for over 20 years, and the building and space were not conducive to the way the firm operates today. However, the firm had terrific vistas of the White House and a prestigious Pennsylvania Avenue address.
  • As a result of an exhaustive process, Jones Lang LaSalle was able to leverage market opportunities and achieve attractive terms at the Willard including base building upgrades. In addition to reaching attractive terms at the Willard, Jones Lang LaSalle negotiated a term sheet at Vinson & Elkins’ preferred relocation option - 2200 Pennsylvania Avenue.

Results

  • After careful consideration of both options, the firm decided to relocate to 72,000 square feet in a brand new mixed development by Boston Properties at 2200 Pennsylvania Avenue, NW.
  • Our team negotiated an aggressive rent and concession package, a reserved gated area of the garage for Vinson & Elkins’ exclusive use, without additional charge.
  • We were also able to obtain flexibility with expansion and contraction capabilities.

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