Case Study

Tierney

TAMI

Savills Secures a More Efficient Space for Creative Firm Tierney (IPG – Interpublic Group)

CHALLENGE

Tierney, a full-service advertising, marketing and PR agency, that was founded in 1942 in Philadelphia, has offices in New York City and Harrisburg, Penn. Tierney’s offices in the prestigious Bellevue building on Broad St. for over 30 years near City Hall, were outdated and dark. The floorplate in the shape of a capital E kept employee groups isolated, and it disrupted the creative interactions so crucial to the company’s culture. Tierney engaged Savills for an integrated real estate search that would improve its work environment, express its brand and foster a creative spirit all while making a smart business transaction.

SITUATION

Savills identified a building at 1700 Market St. in Philadelphia with impressive views of both City Hall and the Art Museum. The firm could efficiently resize from 42,000 sf to 31,000 sf while accommodating all employees on one floor, to improve employee interaction. With a deep core-to-perimeter floorplate and ample windows, the space offers more natural light levels for all employees than the existing space. After conducting employee surveys and visioning sessions to identify Tierney’s priorities, Savills arranged site tours including three IPG creative agencies. The Project Management team coordinated negotiations with management to further reduce professional fees with preferred corporate service-providers.

RESULTS

Tierney’s new space has wowed clients, employees and the local press. Not far from its former office, 1700 Market offers increased visibility with monument signage on a prominent central business district corridor. An accordion-style lease offers flexibility to expand, contract and terminate as business needs change. The new lease was tied to completion of the landlord’s base building improvements, including a fitness center and conference facility. The transaction is now used as a case study for other offices in parent company IPG’s portfolio around the world.