Case Study: Snyder Cohn achieves $200,000 annual rent savings and 25% space reduction with Cresa

Snyder Cohn - Customer Case Study

Snyder Cohn, a financial services firm long-tenanted in Bethesda (peaking at 25,344 rentable sq. ft.), faced a one-time lease termination option nearly five years before lease expiration. Snyder Cohn engaged Cresa for transaction management and project management to evaluate the market and structure a deal that would realize immediate occupancy cost savings.

Cresa identified an opportunity at 11200 Rockville Pike where the new landlord would pay the termination fee, provide a substantial tenant improvement allowance and free rent (eliminating out-of-pocket relocation costs), and offer a lower per-square-foot rate to accommodate 86–100 employees. Cresa structured the new lease so Snyder Cohn reduced its space by 25% to 19,105 sq. ft., achieved a $200,000 annual rent reduction over the remaining four years, and secured flexible expansion/renewal options plus the right to erect exterior building signage.

Snyder Cohn