111 Broadway BuildingPhoto - Cornel Grace.jpg

CORNELL GRACE LAW FIRM

 

Situational Analysis

Our client, a quickly expanding law firm, occupied office space at 111 Broadway that was recently built out by the Landlord, with six years remaining on the lease term.  Timing was a factor as they were growing rapidly but they wanted to avoid taking on a larger financial commitment until the growth was fully understood.

 

Course of Action

InterRelate Group developed a strategy to restructure the existing lease to provide for an extension of the existing space as well as an expansion and reconfiguring of the office space.  We coordinated the engagement of an architect to re-program the space in accordance with our client’s needs and developed an overall plan that would accommodate their current and future business plan.

 

Conclusion

The InterRelate Group team negotiated a Lease transaction that expanded the existing space and extended the current lease by four years at rental rates well below the current market. The new lease included funds provided by the landlord to reconfigure the expanded office facility.

 

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