Strategic Planning & Transaction Management Process Keeps Maine’s Largest Law Firm in Portland.
It had been over 30 years since Maine’s largest law firm, Pierce Atwood, contemplated a move, but their lease was coming up for renewal, and they wanted to look at their options. The firm turned to NAI The Dunham Group to help identify and evaluate their options and ultimately to procure a new location for their 80,000 SF downtown Portland office.
“This project required vision on everyone’s part. The Dunham Group brokers were flexible and pragmatic, and we appreciated how hard they worked to make the deal come together.”
− Dennis Keeler, Pierce Atwood
Since Pierce Atwood had already determined their square footage requirements, the NAI Dunham team’s first step was to survey the market to determine all existing and potential options. They created a broad list of properties and obtained in-depth information on each site.
With this information, NAI The Dunham Group created a grid and helped the client determine the most efficient geographic location based on client, employee and partner requirements. NAI The Dunham Group then worked with the developers to create financial and conceptual building proposals for the most promising candidates.
The next step was to create a detailed Request for Proposal, which NAI The Dunham Group sent to the top pick property owners and developers. Once the proposals were in, the NAI Dunham team conducted an in-depth financial comparison of each site and helped the client determine the best option.
In the end, the client chose the Cumberland Self Storage Building on Merrill’s Wharf, which was completely redeveloped for the firm, a result that is a win-win situation for both Pierce Atwood and the City of Portland.
If you are within two years of your current lease expiration date, call NAI The Dunham Group to review your situation and learn how they can add value to your leasing process. There is no cost to you, as the landlord provides compensation if NAI The Dunham Group successfully completes your lease transaction.