Case Studies

 

Transaction Details

Client
Wilson, Elser, Moskowitz, Edelman & Dicker

Property
555 South Flower Street
Los Angeles, CA

Transaction Size
41,500 square feet

Transaction Type
Lease Relocation

Industry

Law Firm Receives Flexible Terms in Los Angeles Office Space Relocation  

 

Client Situation

At the commencement of this engagement, Wilson, Elser, Moskowitz, Edelman & Dicker, LLP (Wilson Elser) occupied space that was inefficiently designed and outdated for the firm’s business transactions. The building was also more than 40 percent vacant and on the west side of the 110 Freeway, a physical boundary that marks the outer most parameter of the downtown Los Angeles Central Business District. Given these circumstances, the firm believed that the location was no longer consistent with its corporate image and brand as a fast-growing firm and member of the prestigious AmLaw 100, a national ranking of the nation’s top law firms. In addition, the firm’s human resources found recruiting new talent to the firm increasingly difficult due to its less than favorable geography.

Consideration Analysis

After evaluating numerous space alternatives, Studley (now Savills Studley) leveraged existing market conditions coupled with strategic landlord relationships to secure an attractive space for Wilson Elser in a newly renovated building at a premier downtown Los Angeles destination address.

Result

As a result of Studley’s representation of the firm, Wilson Elser received a significant tenant improvement allowance and exceptional expansion rights to ensure the quality and flexibility of the firm’s space for future growth. The new location is in the center of the downtown Los Angeles business district and provides access to convenient amenities and work/life benefits for clients, employees, and new hires.

 

Meet the Team

Mark Sullivan
Vice Chairman, Director and Regional Manager

Since joining the firm in 1986, Mark has been instrumental in driving the growth of the firm in Southern California. Mark’s commitment to Savills Studley was recognized and rewarded when he was appointed to the firm’s national board of directors in 2003.

+1 213 553 3840

 

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