About News Services Success Market Contact  
     
Success Stories  
 
   
 

 

RBJ Success Stories

Richards Barry Joyce & Partners is proud of the transition we have made from the new company to the team that is providing creative, innovative strategies that help our clients solve complex issues. Listed below are multiple success stories in which our unique approach has benefitted our client partners.

 
p

Need:

  • Reduce run-rate immediately to offset downturn in WilmerHale’s business
  • Maintain long-term flexibility while taking advantage of historically low rents
  • Rationalize footprint to reflect WilmerHale’s new space standards
Solution:
  • Engage Landlord well in advance of lease expiration
  • Orchestrate full market evaluation to establish leverage
  • Ensure tenant-friendly provisions in existing lease remain
  • Translate renewal leverage into significant base building upgrades
Results:
  • Reduced rent immediately including retroactive benefit
  • Downsized footprint by > 100,000 SF two and a half years prior to lease expiration
  • Preserved valuable grandfathered clauses such as old measurement methodology & free parking
  • Created escrow account to guarantee base building upgrades regardless of changes in ownership

_________________________________________________________
   

Need:

  • Develop long-term strategy for 2.2 million SF office, clinical and research portfolio

Solution:

  • Win Board-level consensus on long term plan
  • Solidify control of “core” assets
  • Empower Corporate Real Estate to determine optimal time to engage Landlords on case-by-case basis

Results:

  • Capitalized on market correction to secure control of a core asset (10 Brookline Place) through long-term lease extension
  • Exchanged long term lease extension for Carried Interest/Equity Participation
  • $8 million realized gain ($95 psf) from Equity Participation < 2 years after transaction

_________________________________________________________
   

Need:

  • Maximize Nutter’s advantage as anchor tenant in cyclical downturn
  • Achieve partnership consensus on divisive issue of Seaport District renewal vs. Financial District relocation
  • Reduce/eliminate Security Deposit

Solution:

  • Identify Financial District option to create leverage
  • Mediate internal dynamics to reach timely, well-received decision

Results:

  • Reduced rent immediately with market-defining low net effective rents
  • Preserved beneficial existing measurements
  • Enabled re-stack with free swing space
  • Eliminated security deposit