CPH--Glendale-CA-LRG-2
CLIENT Christie, Parker & Hale
LOCATION Glendale, California
SERVICES Tenant Representation
Lease Negotiations
Work Space Optimization
PROPERTY SIZE 42,112 SF of Class “A” Office
FINANCIAL BREAKDOWN 23% Savings

ACCOUNT OVERVIEW

The relationship with Christie, Parker & Hale (CP&H) began with Damian McKinney in the 80’s. Since then Damian has facilitated 4 lease renewals and/or relocations. Damian has been involved in discussions with the board and other decision makers at CP&H to understand the strategy and focus of the firm to lower their overhead and create workplace efficiencies. In recent lease negotiations McKinney Advisory was successful in both lowering their lease rates and enhancing the image of CP&H offices.

Damian, with Julie Dunlap and Jamie Keller, approached CP&H approximately 2 years before their lease was due to expire to begin negotiations on a new lease and possible relocation options. CP&H initially preferred to stay in their current location, lower their lease rates, and receive an allowance for much needed tenant improvements to update their space. CP&H initially did not want to relocate due to the disruption in business and perceived increased expenses.

 

CHALLENGE PRESENTED

Their previous office was located on the Rose Parade route providing the firm the opportunity to host annual parties for staff and clients. There was also a prestige associated with the Pasadena location and history of the business at that site. CP&H also worried about the hassle and disruption that moving and designing a new space creates for a company.

McKinney Advisory presented the possible lease renewal strategy and simultaneously continued with multiple lease negations at other sites to secure the best rates for CP&H. McKinney performed extensive market research and presented multiple off-market solutions.

 

SOLUTIONS

The McKinney team educated CP&H Board and senior partners to consider moving after hosting numerous site tours. Seeing the potential superior options available, CP&H could see that it was possible to save money and improve workplace optimization by changing locations. McKinney Advisory was involved in every step of the lease negotiation process and the ultimate CP&H move. McKinney worked closely with the project manager and architect while securing the landlord’s agreement to pay for space planning fees. The McKinney team met with community leaders in the new location to ensure that CP&H’s needs would be met.

The team compared the efficiency of the old and new premises for space optimization purposes. This review resulted in downsizing from their previous location by about 8,000 SF obtaining the increased efficiency desired by CP&H. Further, to allow for future growth, McKinney secured a right of first refusal. Additionally McKinney negotiated for monument signage and two high floors with panoramic views. The new location provides many amenities for staff and easy freeway access. The interior design is beautiful and effectively utilizes new space planning technology. CP&H was able to lower their monthly overhead and is now in a state of the art office with the ability to grow.