ALASKA WILDERNESS LEAGUE
Alaska Wilderness League (AWL) is a nonprofit organization based in Washington, D.C. AWL occupied approximately 12,800 square feet at 122 C Street, NW and the organization had more than four years remaining on its lease there. They engaged West, Lane & Schlager’s brokerage team to help reduce both their rental rate and footprint.
AWL was only using about 60% of their space and paying around $8.00 per square foot above market. With so much time left on the lease, their landlord was unwilling to reduce the rate or allow them to renegotiate for their smaller size. The property was in need of modernization, and the design of the space didn’t meet their needs. Due to the nature of their work, however, AWL needed to remain on Capitol Hill, Washington’s most expensive submarket.
WLS identified a newly-renovated building in Capitol Hill where the landlord was offering generous concessions to lure new tenants. WLS negotiated for that landlord to offer several years of free rent to AWL which offset their existing liability at 122 C Street. AWL reduced its rent by over $8.00 per square foot, reduced the square footage it was renting by more than a third, and obtained several months of free rent as well as a large improvement allowance. WLS helped obtain all of these concessions three years before the existing lease was set to expire.
AWL saved approximately $635,000 in advance of its lease expiration date. They remained in their ideal location and renovated their space without spending any of their own money.