Reed Smith has over 1,600 lawyers in 22 offices worldwide. When Reed Smith merged with British firm Richards Butler, they needed a global brokerage service provider to evaluate their new 1.3 million s.f. portfolio. After an extensive RFP and interview process, Reed Smith chose Jones Lang LaSalle for our expertise in commercial real estate.
Our specialized Law Firm Group delivers expert, strategic real estate services to this quickly growing firm through transaction management, lease administration and project management services. Importantly, we provide Reed Smith with a consistent service delivery worldwide.
As timing the global markets is critical, the Jones Lang LaSalle team performs proactive portfolio reviews several times a year, advising Reed Smith on when to start thinking about real estate decisions. For the firm’s San Francisco location, Reed Smith’s lease was set to expire and the firm had no option to renew in place. We found existing law firm space in a comparable building, but advised Reed Smith to wait another six months before completing a new deal. By timing the market and negotiating significant TI’s, Reed Smith relocated its 125,000 s.f. San Francisco office with no out of pocket costs.
To date, we have completed seven transactions for Reed Smith, including Beijing (20,000 s.f.), San Francisco (125,000 s.f.), Los Angeles (75,000 s.f.), Century City (25,000 s.f.), Wilmington, DE (11,000 s.f.), Richmond, VA (15,000 s.f.) and Palo Alto (15,000 s.f.). We are also working on four sublease assignments in London, New York, Falls Church, VA and Oakland, CA, and are providing advisory services in Munich, Abu Dhabi, Beijing and Shanghai.