SSH Real Estate

EisnerAmper


Service Provided

Tenant Representation

Location

One Logan Square, 130 North 18th Street, Philadelphia, PA

Size

42,000 Square Feet

OVERVIEW

EisnerAmper, a New York based accounting and consulting firm, hired SSH Real Estate in January 2014 to help evaluate the firm’s relocation options. EisnerAmper’s Philadelphia office had been located in the suburb of Jenkintown, PA since 1991; it later opened a satellite office in Center City in 2012. The Jenkintown building was in need of significant capital improvements and did not fit with the firm’s image as a world-class professional services firm. It was apparent that the firm needed to relocate from their existing building, but choosing the location of their next Philadelphia office would be a challenge.

EXECUTION

SSH’s team quickly began working simultaneously on several issues, including analyzing where each of the firm’s employees live to narrow down the best areas for an office, and creating a comprehensive program to determine how much space the firm would need and how to maximize space usage.

Based on meetings between SSH and EisnerAmper, it was determined that the firm would explore two scenarios: first, consolidating the entire requirement in Center City; and second, maintaining its headquarters in the suburbs and a satellite office in Center City.

Once SSH had completed its analyses, it helped identify and evaluate a wide range of buildings that could meet EisnerAmper’s need in Center City and suburbs of Philadelphia. SSH and EisnerAmper conducted initial inspections of 11 Center City buildings and 11 buildings throughout the suburban submarkets. This list was narrowed to a short-list of buildings. SSH then prepared a comprehensive financial analysis of each proposal and counter proposal.

RESULT

After careful consideration, EisnerAmper decided to relocate to 42,000 SF on the 29th and 30th floors of One Logan Square, one of Philadelphia’s trophy office buildings. The building offered the quality attributes and amenities required for EisnerAmper to attract new talent and be more active in the business community. The allure of a Center City headquarters was enhanced by City Council’s passing of the jobs creation tax-credit. SSH’s excellent relationship with Brandywine Realty Trust allowed for a smooth lease negotiation process, resulting in favorable lease terms and conditions for EisnerAmper.

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