Reznick Group, an accounting firm, hired Jones Lang LaSalle (JLL) to represent them in negotiating a new office lease in Atlanta. JLL suggested looking for a new space in 2010 when concessions from landlords were high, rather than waiting until 2013 as another firm recommended. JLL negotiated a lease that saved Reznick $4 million in costs by securing a new 65,000 square foot space in the LEED Gold certified Two Alliance Center in Buckhead three years before their current lease expired. The new space met Reznick's needs for image, recruitment, and sustainability while providing a more efficient design and transit access.

1. Case Study Client: Reznick Group Atlanta 2011 “ Within a few weeks of our first meeting, JLL was able to devise and execute a strategy that saved us real money. Our former tenant rep firm did not bring strategies like JLL was able to, nor were they able to execute at JLL’s level.” Wesley P. Hudson, CPA Atlanta Office Managing Principal Reznick Group Services Tenant Representation Situation/Process Reznick Group’s 88,000-square-foot lease in Atlanta’s Central Perimeter submarket expired in late 2014, but the accounting firm wanted to take advantage of a soft office market with a move to Buckhead or Midtown. A Jones Lang LaSalle (JLL) competitor suggested Reznick Group wait until 2013 to begin the search. JLL’s tenant rep team suggested that 2010 was the time to strike while concessions were still bountiful. Reznick desired to upgrade its image and enhance recruiting with a new location that also had substantial “green” features. Focus narrowed on Buckhead, a favorable location for both young executives who desired an urban-core location and senior executives who commuted from Atlanta’s northern suburbs. Results Reznick leased 65,000 square feet at Two Alliance Center, a LEED Gold Buckhead location that met its image, recruitment and “green” parameters and also provided for a more efficient design and transit access. Market conditions and Reznick’s stellar credit enabled the JLL team to negotiate a transaction that saved the company $4 million in real estate costs and enabled it to move three years before expiration of its Central Perimeter lease. The lease included flexibility options for expansion, termination and contraction. JLL relied on its market knowledge and client relationships to execute a sublease for one floor of Reznick’s Central Perimeter space without ever placing it on the market. Even if the remaining two floors are never subleased – an unlikely scenario for quality, Class-A space – Reznick would still achieve substantial savings.