BDO USA LLP (formerly Asher & Company, LTD)

Asher and Company, since acquired by BDO USA, is a leading accounting and advisory firm based in Philadelphia. In a relationship spanning over 25 years, SSH Real Estate has provided real estate consulting services and negotiated their Philadelphia office relocations.

The SSH team met with Asher to develop a real estate strategy that best fit the firm’s corporate strategy and future growth. The process involved determining the firm’s current and future space needs, performing a comprehensive search of the market to determine all viable alternatives, and cost analyses. A key requirement of the firm was obtaining building signage at street or lobby level, an ask typically reserved for larger tenants.

After consult with SSH’s in-house space planner, it was determined the firm required 20,000 SF. After conducting a market survey, review of proposals, SSH began analyzing and comparing both the quantitative and qualitative aspects of each prospective building and their fit with the firm’s future strategy. It was determined that Asher would execute a long-term lease for 25,000 SF at Ten Penn Center. This was 5,000 SF more than their initial requirement.

SSH was able to negotiate a “put” on the 5,000 SF in 5 years. Despite occupying and using the full 25,000 SF floor, the firm would only pay rent on 20,000 SF until the end of a 5-year period. The additional 5,000 SF allowed the flexibility to expand as projected. As desired, SSH negotiated the right to pylon signage in the front of Asher’s new office building.