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Case Study

Vedder, Price, Kaufman and Kammholz, P.C.

Situation/Process

  • When Vedder, Price, Kaufman and Kammholz, P.C.’s New York office lease was approaching expiration, the firm was dealing with a series of issues including: dated infrastructure, older build-out features and lack of amenities including insufficient power and air conditioning.
  • Since they were in a sublease, Vedder did not have much leverage with the existing landlord to increase efficiency of the space or to improve the lease structure.
  • Hoping to improve both image and workplace synergy with its next lease, Vedder turned to Jones Lang LaSalle.
  • Our team began an exhaustive search of all available spaces both in Midtown and Downtown Manhattan.

Results

  • We secured 53,000 s.f. of space on one floor with a high-end law firm build-out already in place, limiting Vedder’s out-of-pocket expenses.
  • In addition to better synergy and improved amenities, the new location projected the desired image of the law firm, and supported the firm’s technology requirements.
  • Jones Lang LaSalle secured a 10-year competitive lease on the space that included options to renew. Because of our market knowledge and relationship with the landlord, we were able to secure the space, even though a deal had already been moving forward with another prospective tenant at the time of our interest.

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