Case Study: Bonner Kiernan Trebach & Crociata LLP achieves 14% rightsizing, a $3.5M concession package and a lease renegotiated 15 months early with Cresa

Law firm renegotiates lease 15 months early, right-sizes by 14% and secures $3.5 million in concessions

Bonner Kiernan Trebach & Crociata LLP engaged Cresa to evaluate space utilization and occupancy costs across downtown Washington submarkets and their current CBD location. BKTC needed to reduce space per attorney by creating smaller offices and more collaborative areas, and wanted a full Strategic Real Estate Plan to explore renovating in-place, moving within the building, or relocating. Cresa provided Transaction Management, Project Management and Workplace Intelligence to guide the process.

Cresa implemented the Strategic Real Estate Plan, renegotiated the lease 15 months early, and secured free swing space during construction plus flexibility to vacate without penalty if the building is redeveloped. Cresa’s negotiations delivered a 14% rightsizing of the firm’s space, building signage and influence over a tenant-only fitness facility, and nearly $3.5 million in landlord concessions (tenant improvements, reduced rent and rental abatement).

Bonner Kiernan Trebach & Crociata LLP