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Case Study

First Financial Bank Office Consolidation

Bank gains financial incentives, cost savings and brand-boosting signage as a result of a fast-acting negotiations from JLL

Services provided: Tenant Representation
Client:First Financial Bank, Cincinnati, Ohio

First Financial Bank had two locations with about 64,000 square feet total split between Hamilton and Middleton, Ohio. The company was quickly growing as it acquired two area financial institutions, and wanted to consolidate its space into one, larger location in Northern Cincinnati.

Time was of the essence, so First Financial Bank partnered with Jones Lang LaSalle to help it secure 110,000 square feet of Class A space, which it could occupy in six months. Prominent exterior signage was a top priority at the new building, so that First Federal could clearly position the company after the acquisitions.

JLL professionals quickly went to work—detailing the bank's needs, calling on contacts within the industry to evaluate space, and also engaging the State of Ohio and local municipalities to discuss incentive packages. Due to the aggressive timeline, tours, detailed requests for proposals (RFPs) and incentive packages were all completed simultaneously.

First Financial Bank signed a 10-year deal for 118,000 square feet in Pictoria Tower, located in Springdale. Despite the timeline, JLL was able to negotiate a single digit net rent and a year's worth of free rent from the landlord, as well as a jobs creation package from the State and City.

And, as First Financial desired, it now has prominent exterior signage on the east, west and south walls of the building, thanks to extensive negotiations between JLL, the landlord and the City of Springdale.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.

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