Studley Represents Fehr & Peers in Early Renewal and Restructure
San Francisco, CA (January 19, 2010)
Fehr & Peers, a transportation consulting firm, has renewed and restructured its lease at 100 Pringle Avenue, Walnut Creek, California. In addressing its occupancy needs two years prior to lease expiration, the firm was able to take advantage of current market conditions and save 30 percent on its remaining obligation.
As part of the transaction, Fehr & Peers returned approximately 5,500 square feet of space to the landlord and now occupies a total of 13,900 square feet. The firm has been located at 100 Pringle Avenue since 2004. The 173,000-square-foot Class A building was built in 1983.
“We’ve been very happy in this location and by addressing our occupancy needs early, Studley helped us create and execute a long-term strategy that allows us to remain in this space while reducing our overall costs,” said Marion Donnelly, CFO of Fehr & Peers.
Eric Danielson, senior managing director, and Jennifer Klotz, assistant director, in the Walnut Creek office of commercial tenant advisory firm Studley, represented Fehr & Peers in the transaction. The team also represented the company in two additional transactions in California and Nevada.
The landlord was represented by Tom Klein of Crosspoint Realty Services.
Other East Bay tenants represented by Studley include APL, Wolfe & Wyman, Precept Group, and Fugro-William Lettis.
About Fehr & Peers. Fehr & Peers specializes in providing transportation planning and traffic engineering services to public- and private-sector clients. Fehr & Peers emphasizes the development of creative, cost-effective, and results-oriented solutions to planning and design problems associated with all modes of transportation.