Real Estate Roundup: Latest Leases Cap Busy Year
For its part, Winston reduced the size of its hometown Chicago offices 19 percent earlier this year by putting 75,000 square feet of space back on the market, according to Chicago Real Estate Daily.
Skadden, Arps, Slate, Meagher & Flom—which had its hand in a different kind of real estate deal when it advised Sony on the $1.1 billion sale of its Manhattan headquarters earlier this year—announced in July the relocation of its Boston office by downsizing to 47,000 square feet of space in a building in the city's Back Bay neighborhood. Clifford Naeve, the managing partner of Skadden’s base in Washington, D.C., spoke with sibling publication The Blog of Legal Times earlier this year about his firm’s decision to renew its lease two years ago in the nation’s capital.
Elsewhere in D.C., The BLT reported in August on Sidley Austin’s extension of its lease for 289,000 square feet of space through 2031 in the city. And Pillsbury Winthrop Shaw Pittman agreed earlier this year to become an anchor tenant of a new building going up at 1200 17th Street NW by taking 168,000 square feet at the property.
Miller & Chevalier joined the D.C. real estate parade this week by signing a 15-year lease for 84,000 square feet of space to become the anchor tenant of a building two blocks from the White House, according to The BLT. (Covington & Burling inked a deal late last year to become the anchor tenant at a brand new Beltway building, although presumably none of these firms have the D.C. office ducks for which Crowell & Moring has become famous.)
The Am Law Daily reported earlier this year on how Am Law 100 firms such as Arnold & Porter, Cooley, Goodwin Procter, and Sidley Austin were scoping out new space in Washington, D.C., Boston, and Houston, respectively.
Since then, other large firms across the country have been making plans for future moves of their own.
Day Pitney set up shop this summer in a stately Victorian property in Greenwich, Connecticut, while Wilson Elser Moskowitz Edelman & Dicker has moved its headquarters in suburban White Plains, New York, after signing a large lease back in December 2011.
Down south, Jones Day and Sedgwick have signed leases, respectively, in Miami at Brickell World Plaza and One Biscayne Tower, according to the sibling publication the Daily Business Review. The Tampa Bay Business Journal reported in May that Jackson Lewis had agreed to take 6,277 square feet of space at Tampa’s Wells Fargo Center. The firm opened its Tampa office in February with temporary space.
In Richmond, McGuireWoods signed on in January to become the anchor tenant of a new 15-story building in its hometown by taking 217,000 square feet of space at Gateway Plaza. Local—and Am Law 100—rival Hunton & Williams has secured a new lease for 257,400 square feet of space at nearby Riverfront Plaza, while Troutman Sanders has renewed a lease for 100,000 square feet of space at the Riverside on the James, a mixed-use development in downtown Richmond.
Baker, Donelson, Bearman, Caldwell & Berkowitz announced in May the renewal and expansion of its lease for 107,000 square feet of space at the First Tennessee Building in the city’s downtown. (Baker Donelson can also boast of having a unique office layout in Birmingham.)