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Case Study

Law firm stays “home,” but achieves 20.3% lease savings and LEED gold status

Services provided: Tenant Representation | Project Development Management

Law firm Squire Sanders moved into the Huntington Center building in Columbus in 1990 under a 20-year, 85,000-square-foot sublease term with Huntington Bank. Closing in on the end of the lease term in 2007, the firm still preferred the building and location, however required a modernized space build-out, a lower lease rate and expansion flexibility if it were to remain in the building.

Squire hired Jones Lang LaSalle to help navigate through the strategic negotiation process. After three and half years of planning and market negotiations, Squire signed a new lease at Huntington Center, achieving savings of $3,000,000 during the negotiation process, an effective 20.3% economic cost reduction from the landlord's first proposal to the final negotiated agreement. JLL's real estate professionals also managed the build-out and construction process of Squire's updated space, which saved $230,000 of managed cost and helped Squire achieve LEED Gold status.

Read the full Squire Sanders case study

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 and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management. For further information, visit www.jll.com.

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