Gardere Wynne Sewell LLP

Client Situation

Gardere Wynne Sewell LLP, an Am Law 200 firm and one of the Southwest’s largest full-service law firms –covering more than 40 different areas of practice, retained Savills Studley to advise them on their commercial real estate needs. Gardere had been in Wells Fargo Plaza for almost 20 years and their space no longer served their practice due to significant changes in the practice of law and the demographic makeup of their law firm. A newly designed and constructed premises within the building was preferred by the firm. However, an evaluation of outside opportunities was a consideration.

Consideration Analysis

Savills Studley identified and analyzed all aspects of restacking its existing space as well as three new open floors that would support Gardere within Wells Fargo Plaza. In addition, a comprehensive review of a new development and two second generation class A buildings was undertaken. Savills Studley carefully studied the impact to the firm of all financial issues as well as construction implications and disruption factors, employee commutation, improved workflow, access to amenities required as well as implications associated with a potential simultaneous construction project in Dallas,

Result

Through Savills Studley’s assessment and expert counsel, Gardere relocated within Wells Fargo Plaza to floors 20 through 22 to occupy 74,975 square feet. Terms negotiated included a rental rate over $5 per square foot lower than any comparable transaction negotiated within the building in the prior three years, significant free rent and concessions and the highest allowance ever provided at Wells Fargo Plaza. The new space will provide the firm with increased efficiencies, as well as a sleek, fresh design meant to significantly enhance the workplace environment for Gardere’s lawyers and staff.

Summary Information

  • Property: Wells Fargo Plaza – 1000 Louisiana St., Houston, TX
  • Transaction Size: 75,975 s/f
  • Transaction Type: Renewal
  • Service Line: Office

Meet the Team

Endelman, David

Endelman, David

Senior Managing Director
713.237,5529

O'Donnell, Mark

O'Donnell, Mark

Executive Vice President, Director and Branch Manager
713.237.5509

Hodges, Kevin H.

Hodges, Kevin H.

Senior Managing Director
713.237.5512