West, Lane & Schlager Realty Advisors, LLC (WLS), a leading Washington, D.C.-based commercial real estate brokerage firm that exclusively represents tenants, announced today that it has completed a 10,440-square-foot lease renegotiation for boutique law firm West & Feinberg at 4550 Montgomery Ave. in Bethesda, Md.
In this 11-year, four-month transaction, WLS Principal Eric West, LEED AP, and Assistant Vice President Andrew Genova negotiated on behalf of West & Feinberg, one of the region’s most prominent business, tax and estate planning law firms.
West and Genova provided their client with numerous possible Class-A options within the Bethesda submarket, and the law firm – which had extremely specific requirements – seriously considered relocating. Ultimately, remaining at the MRP Realty-owned 4550 Montgomery Ave. made the most sense, according to the WLS executives.
With the new lease, which became effective nine months prior to the expiration of West & Feinberg’s existing lease, the law firm achieved a newly built office and reduced its per-square-foot cost by over 13 percent.
According to Genova, “This transaction allowed West & Feinberg to achieve its overarching goal of improving its space at a lower total cost of occupancy. Furthermore, all of West & Feinberg’s renovation costs were offset by the negotiated tenant-improvement allowance. We’re extremely pleased with the outcome of the transaction.”
About West, Lane & Schlager Realty Advisors, LLC:
Washington, D.C.-based West, Lane & Schlager Realty Advisors, LLC is a leading commercial real estate brokerage firm that exclusively represents tenants in the Washington, D.C. Metropolitan Area. Clients of West, Lane & Schlager include professional services companies such as law firms, as well as nonprofit organizations and trade associations. Services provided by West, Lane & Schlager are tenant representation, investments, construction management, strategic planning, and operating-expense reviews. For more information on West, Lane & Schlager, please visit www.wlsrealty.com.
