The Challenge
Funk & Bolton, P.A. was located at 100 Light Street in Baltimore.  The company had an immediate need of additional space and was projecting needs to grow at a consistent rate.  100 Light Street would be unable to meet their long term needs based on an existing tenant’s ongoing rights of space in the entire building.  MacKenzie was hired to represent Funk & Bolton, P.A.  A short term expansion was negotiated with Funk & Bolton’s existing Landlord to meet its immediate need.  Architects were interviewed and the best firm selected.  An analysis of Funk & Bolton’s short and long term needs for growth and the costs associated with the move were determined.  All lease properties meeting Funk & Bolton’s criteria were identified.  Three finalists were chosen and negotiations were finalized.  A 15-year lease was negotiated at 750 East Pratt Street in Baltimore with rights to grow onto two additional floors.  Rental rates and tenant improvements were pre-negotiated for the entire term.  On September 11th the deal was put on hold.  A decision was made to start the process from the beginning and focus on less expensive buildings. 

The Solution
A 15-year lease was negotiated with expansion rights over the term for two contiguous floors.  All terms and conditions for the expansion space were pre-negotiated for the entire 15 year term.  An early termination agreement was negotiated at 100 Light Street.  MacKenzie identified a tenant in that building needing space; therefore Funk & Bolton, incurred no costs relating to the early termination.

MacKenzie and Cushman & Wakefield recently completed a transaction opening a new Philadelphia office for Funk & Bolton.

Funk & Bolton, P.A.

Services Provided:
• Leasing & Sales
• Corporate Consulting & Strategic Planning
• Development Services
• Financing