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Case Study

Ober | Kaler

Situation/Process

  • Ober | Kaler had occupied 85,857 s.f. at 120 East Baltimore Street in downtown Baltimore for 20 years but was seeking a newer space.
  • Addressing the firm’s immediate needs, Jones Lang LaSalle negotiated with the firm’s current landlord to remedy base building, management and operational issues as well as new lease terms to improve the building.
  • Over a two-year period, our team devised a long-term occupancy strategy for the firm and assisted Ober | Kaler in evaluating the downtown and suburban Baltimore office markets and negotiating different relocation opportunities.

Results

  • With a 94,213-r.s.f. lease, Ober | Kaler became the anchor tenant of 100 Light Street, a 35-story city skyscraper formerly known as the Legg Mason building, which was undergoing a major renovation after Legg Mason’s departure.
  • Our team ensured that Ober | Kaler saved money in relocating to a newer, better-located building with added amenities and received a tenant improvement allowance from the landlord.
  • We also worked to secure a guarantee from the new landlord, Lexington Realty Trust, of its lease obligations to the firm.
  • In addition, we were able to solve the firm’s unamortized leasehold improvement issue for the shareholders by negotiating a rental abatement with Lexington Realty Trust.

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