Cushman & Wakefield – Nelson Mullins RFP Response

APPENDIX B LAW FIRM TEST CASES

AM LAW 100 FIRM TEST CASE #2 FIRM #2 PAIN POINTS: This firm had been operating with numerous real estate providers for decades with local Managing Partners influencing decisions. The firm realized that their process was not cost or time effective and that they needed to build consensus amongst the Managing Partners to develop a firm-wide real estate initiative (using benchmarks and attorney cost metrics), to implement a real estate strategy that would decrease overhead and streamline operations for the years ahead. The desired strategy included “right-sizing” the firm as they had high vacancy rates as well as looking at each office location and evaluating high inefficiency factors and poor workplace conditions that were hindering attorney collaboration, technology advancement, C&W was retained and invited to the firm’s annual Partner Retreat to meet with the firm’s leadership and Managing Partners throughout the US. Over the course of a two (2) hour session, the attendees were educated to the industry shifts using C&W’s proprietary thought leadership, benchmarks, and metrics including potential per equity partner costs savings that could potentially be achieved over the next five (5) to ten (10) years. Included in the session was the firm’s Chairman, CFO, Executive Director, and Head of Real Estate. During the session, C&W was able to clearly define where the firm was currently positioned and how we could achieve significant improvements to profitability, client services, and overall operations. The session evaluated firm-wide benchmarks showing the firm where they stood on a national basis in over twenty (20) business, financial, and operational arenas. At the end of the Session, all fourteen (14) of the firm’s Managing Partners were on board with the strategies that we had developed and in agreement that moving forward each location would be evaluated, and such standards and strategies would be applied throughout the portfolio. Over the course of the next four (4) years of working with the firm, the following was achieved: and recruiting and retention. C&W’S SOLUTION:

percent (50%) through restructure “givebacks” or disposition through subleasing; • Development of firm-wide design standards that included single-size offices with glass fronts; • Square footage target ratios of under six hundred (600) square feet per attorney; • Furniture standards including national buying contracts to reduce furniture costs; • Expanded technology use/increased training to better support client services; • Evaluated merger candidate’s real estate (value, liability & risk, potential disposition) that supported a significant merger and added six (6) new locations to firm totalling twenty-four (24) U.S. office locations, and disposition of excess space after merger was concluded. The firm was so pleased with the success of partnering with C&W/LSAG that they recently extended our national contract for another term.

<50% Reduction in Vacancy

<600 SF Per Attorney

24 Offices Across U.S.

Reduction of vacant space by over fifty-

58 Legal Sector Advisory Group | ADVISING FOR EXCELLENCE

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