Background

 

Stradley, Ronon had over six years left on its lease in a first class building that had filed for a “prepackaged” Chapter 11 bankruptcy. We worked with Stradley, Ronon for about six months to develop a long range facilities strategy taking into consideration both its Center City and suburban occupancies and the financial situation of its headquarters building.

 

Complex Strategy

 

Using an innovative strategy that we developed, we negotiated a long term position for our client that was extremely favorable. Because we are a very technical firm, the strategy is complex, involving the present value of future costs, and a sharing arrangement benefitting Stradley, Ronon immediately and in the long term. It also required us to understand our client’s position with respect to the bankruptcy filing by the landlord and to avoid a “cramdown” or other unfavorable situation.

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A new long term lease was negotiated, the strategy was successful, the building is out of bankruptcy and it was a successful endeavor.

 

Additional Assignment

 

As part of the strategic planning attendant to the new lease, Stradley determined that they needed a new telecommunications system, one capable of maintaining constant voice and data contact with its branch offices. Because of our asset management background, we consulted in selecting a vendor and a system that brought their telecommunications into the twenty-first century.