Phelan Hallinan & Schmieg

Phelan Hallinan & Schmieg, LLP, a law firm based in Center City Philadelphia with an office in Mount Laurel NJ, was experiencing rapid growth in New Jersey. Having previously outgrown several office spaces, the challenge was to find a property that could accommodate the firm’s future projected growth with no rental payments prior to occupancy.

Based on the firm’s partnership structure, projected growth and unique requirements, SSH encouraged PHS to consider a building purchase versus lease options. After an extensive southern New Jersey market research, 400 Fellowship Road was identified. SSH assisted with the due diligence, construction estimating, space planning and provided property management services. The 40,000 SF office building had 20,000 SF immediately available for PHS occupancy and current tenants with fast approaching lease expirations. This ideal scenario enabled PHS to grow into their own building, eventually expanding into the entire building.

With SSH’s identification and negotiation of very favorable sale terms in New Jersey, the partners of the firm benefited from an excellent real estate investment while also profiting from the tax advantages of the depreciation of real estate. 

Simultaneously, SSH negotiated a 36,000 SF renewal of Phelan Hallinan & Schmieg’s HQ office at 1617 JFK Boulevard in Philadelphia.