Howrey L.L.P.

Client Situation

Howrey wanted to expand their Houston practice.  Through careful analysis the Studley team helped Howrey determine that downtown was a critical location to help meet their expansion plans.  They had 3.5 years remaining on their lease and the challenge was to structure terms that avoided double rent with a move 19 months in advance of their lease expiration.

Result

Studley negotiated an incentive package that eliminated double rent for the early move and covered $50 per rentable square foot for improvement allowances. In addition to many additional economic concessions negotiated, Howrey was able to secure options to space that meets their growth projection over the next 15 years.