Real Estate Roundup: Latest Leases Cap Busy Year
Cooley, which moved into historic new D.C. digs in January, announced in March the relocation of its Seattle office with the signing a 10-year lease for 22,822 square feet of space. Elsewhere to the west, Gordon & Rees signed a lease in May for 24,000 square feet in Oakland, a deal the San Francisco Business Times reported might be a sign of spillover from an overheated Bay Area real estate market. (Shook, Hardy & Bacon unveiled this summer the designs for its new San Francisco office space.)
And finally, in Los Angeles, where Greenberg Traurig and Alston & Bird signed large new leases last year, Gibson, Dunn & Crutcher extended its lease in January for 268,000 square feet of space at the Wells Fargo Tower in the city’s Bunker Hill area.
As for Mayer Brown, the firm followed the lead of many U.S. businesses that tout their offices' green energy credentials—also known as Leadership in Energy and Environmental Design (LEED)—when signing new leases.
In announcing its new Manhattan digs, Mayer Brown notes that the space is “among the largest buildings in Manhattan to achieve LEED certification by the U.S. Green Building Council.”
Akin Gump Strauss Hauer & Feld made a similar proclamation in 2006 when it signed a 15-year lease for more than 203,000 square feet spread across six floors at the 51-story Bank of America Tower under construction in midtown Manhattan.
Alas, the building, located at One Bryant Park and completed in 2009, is actually something of an energy hog, according to a report by The New Republic that drew a strong response from the U.S. Green Building Council and other LEED advocates.